History, 17.01.2020 03:31 teacherpreacher
Graph with x axis labeled in 500 unit increments from 0 to 3000. y axis is labeled with prices 0 to 30 dollars in increments of 5. a blue supply line starts at 500, 5 and ascends at an angle upward to 2500, 25. a red line demand starts at 500, 25 and drops at an angle down to 2500, 5. look at the graph. a medical device company is selling a new diagnostic tool at the equilibrium price of $15. the company hires a marketing firm to run an advertising campaign to publicize recent positive findings regarding the effectiveness of the tool. based on the graph, what would be the result? a new equilibrium point, because the demand would increase a shortage, because the price is higher than equilibrium price a surplus, because the price is higher than equilibrium price selling fewer devices, because demand would decrease
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