Answer to Question #299241 in Microeconomics for sithole

Question #299241

If the market demand decreases by 50% what will be the new clearing price and

quantity for this market?

Expert's answer

"NCP=(1-\\frac{50\\%}{100\\%})P=(1-0.5)P=0.5P,"

"Q=\\frac 1{0.5}=2."

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