1 Given market equilibrium of demand and supply of sugar,what happens to the level of equilibrium price and quantity if market demand increases by 50% while its supply increases by 40% ?
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Expert's answer
2014-08-18T09:22:17-0400
The equilibrium price will increase by 50 - 40 =10% and equilibrium quantity will increase by 40 + 50 = 90%.
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