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As an economist for ABC Plastics, your boss has asked you to respond to some questions she has regarding the company’s main product, tablet cases. A marketing research firm recently developed the following supply and demand schedules for tablet cases:
Price/Case
Quantity Demanded
Quantity Supplied
$24
5000
18000
22
6000
17000
20
7000
16000
18
8000
15000
16
10000
14000
14
11000
13000
12
12000
12000
10
13000
11000
8
14000
10000
6
15000
9000
4
16000
8000
2
17000
7000
You are to develop a report addressing the following questions and present your findings to the Board of Directors:
Questions:
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