Question

IE 3-5 ... Interactive Exercises – If an Equilibrium Price of $2.00 results in the longer run from a right shifting of both Supply and Demand behaviors, then Employment in the Mini-economy will be __________ and Quantity of Goods Produced will be _________ ..

Answer 1

Answer:

132 people.

3100 units

Explanation:

Generally, a change in the equilibrium price of goods and services tends to affect the behaviors of demand and supply. For the system above, we have:

IE 3-5 ... Interactive Exercises – If an Equilibrium Price of $2.00 results in the longer run from a right shifting of both Supply and Demand behaviors, then Employment in the Mini-economy will be __132__people______ and Quantity of Goods Produced will be ___3100__units____ .