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Assume That the Demand Equation for Exercise Watches, Such as the Fitbit

question 101

Essay

Assume that the demand equation for exercise watches, such as the Fitbit, is QD = 2,200 - 15P and the supply equation is QS = 15P - 800. After a favorable study shows that using exercise watches significantly reduces users' weights, quantity demanded increases by 300 at every price. The new equilibrium price will be _____ and the new equilibrium quantity will be _____.


Definitions:

Unstructured Interviews

An interview method in which questions are not prearranged, allowing for spontaneous and open-ended discussions.

Structured Interviews

A systematic method of interviewing where all candidates are asked the same predetermined questions with established scoring keys.

Self-Efficacy

The belief in one's ability to succeed in specific situations or accomplish a task.

Self-Actualization

Attaining or accomplishing one's innate abilities and potentials, regarded as a universal impulse or demand within every individual.

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