Graph the information in the following table and find equilibrium price and quantity.Suppose that the demand for good XYZ rises by 5 units at every price because of clever advertising.What happens to equilibrium price and quantity? Under what conditions would it be profitable to advertise?
Price
Quantity Demanded
Quantity Supplied
$0
100
0
$0.50
95
20
$1.00
90
40
$1.50
85
60
$2.00
80
80
$2.50
75
100
$3.00
70
120
$3.50
65
140
$4.00
60
160
$4.50
55
180

Question

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The Answer of Graph the information in the following table and find equilibrium price and quantity.Suppose that the demand for good XYZ rises by 5 units at every price because of clever advertising.What happens to equilibrium price and quantity? Under what conditions would it be profitable to advertise?
Price
Quantity Demanded
Quantity Supplied
$0
100
0
$0.50
95
20
$1.00
90
40
$1.50
85
60
$2.00
80
80
$2.50
75
100
$3.00
70
120
$3.50
65
140
$4.00
60
160
$4.50
55
180

Graph the Information in the Following Table and Find Equilibrium