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Given the table below, graph the demand and supply curves for flashlights. Make certain to label the equilibrium price and equilibrium quantity.
a. What is the equilibrium price and the equilibrium quantity?
b. Suppose the price is currently $5. What problem would exist in the market? What would you expect to happen to price? Show this on your graph.
c. Suppose the price is currently $2. What problem would exist in the market? What would you expect to happen to price? Show this on your graph.
Deceitful
Characterized by dishonesty or manipulation to obscure the truth for personal or professional gain.
Conflicts
Situations where perceived or actual incompatible interests, beliefs, or actions lead to opposition or discord between individuals or groups.
Morals
Fundamental beliefs about what is right and wrong, which serve as guiding principles for behavior.
Values
Core beliefs or principles that guide and influence behavior and attitudes.
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