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ECON 213: Problem Set 1 - Market Analysis, Consumer and Producer Surplus, and Economic Curves

Problem set on market analysis.

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ECON 213Page1of6ECON 213: Problem Set 1-Market Analysis, Consumer and ProducerSurplus, and Economic CurvesECON 213PROBLEMSET1Name: ______________________________________________Problem Set 1 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 2.1.Based on the information provided for the market for video games, answer the following questions.PRICEQDEMANDEDQSUPPLIED$5059$4577$4095$35113$30131a.)Draw and properly label the demand and supply graphs(this means you must label the axes and anylines you include on the graph).ORANGE LINE = DEMAND CURVEBLUE LINE = SUPPLY CURVEb.)What is the equilibrium price and quantity?

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Document Details

University
Harvard University
Course
ECON 213
Subject
Economics

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