Show effects of innovation on the market price and quantity

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Reference no: EM13208598

Price Quantitiy demanded per year Quntity supplied per year
$45 4300 300
55 2300 700
65 1300 1300
75 800 2100
85 650 3100

B. To quell outrage over tuition increases, the collage places $55 limit on the price of textbooks. How many textbooks will be sold now?

C. while the price limit is still in effect, automated publishing increases the efficiency of textbook production. Show graphically the likely effect of this innovation on the market price and quantity

Reference no: EM13208598

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