Suppose that the graph illustrates the market demand for soda per month with an equilibrium price of $3.00 and equilibriumquantity of 4,000 sodas. Please indicate on the graph the effects of excess inventories that lower the price by $2 and place pointA at the new equilibrium.Price (5)6.05.04.03.02.01.00.0O3.04.NDemand4,054Quantity (thousands) Price (5)3.02.01.0-0003.012soda demanded:4.04Quantity (thousands)6What is the new quantity of soda demanded? Enter your answer in thousands, specified to one decimal place.thousand

The given graph illustrates the market demand for soda per month with an equilibrium price of $3.00…

Answered: What is the new quantity of soda…

What is the new quantity of soda demanded? Enter your answer in thousands, specified to one decimal place. soda demanded: thousand

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose that the graph illustrates the market demand for soda per month with an equilibrium price of $3.00 and equilibrium
quantity of 4,000 sodas. Please indicate on the graph the effects of excess inventories that lower the price by $2 and place point
A at the new equilibrium.
Price (5)
6.0
5.0
4.0
3.0
2.0
1.0
0.0
O
3.0
4.
N
Demand
4,0
5
4
Quantity (thousands)

Price (5)
3.0
2.0
1.0-
00
0
3.0
1
2
soda demanded:
4.0
4
Quantity (thousands)
6
What is the new quantity of soda demanded? Enter your answer in thousands, specified to one decimal place.
thousand

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