Need economics help with a table about hot chocolate

Anonymous
timer Asked: Dec 19th, 2015
account_balance_wallet $5

Question Description

Tutor Answer

madhug
School: Duke University

Thank you for the opportunity to help you with your question!

The new demand and supply schedule is as follows

Price Demand Supply
1.5 600 0
1.75 500 50
2 400 100
2.25 300 150
2.5 200 200
The new equilibrium price is $2.5 

The new equilibrium quantity is 200 cups a day.

Please let me know if you need any clarification. I'm always happy to answer your questions.

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Anonymous
awesome work thanks

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