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Essentials of Economics 10th Edition by Bradley Schiller, Karen Gebhardt
Edition 10ISBN: 978-1259235702Essentials of Economics 10th Edition by Bradley Schiller, Karen Gebhardt
Edition 10ISBN: 978-1259235702 Exercise 4
In September 2014 Apple was selling a gold version of the 128GB iPhone 6 for $949. Two days later that phone was advertised on eBay for a starting bid of $1,625.
( a ) Was this evidence of A: market shortage or B: market surplus?
( b ) graph this situation
( a ) Was this evidence of A: market shortage or B: market surplus?
( b ) graph this situation
Explanation
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( a ) A good can only be sold at price h...
Essentials of Economics 10th Edition by Bradley Schiller, Karen Gebhardt
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