Question

Stores are overflowing with the latest vampire novel at $10. Store managers are frustrated with the lack of sales. The equilibrium price for this novel is

Answer 1

Less than $10

Step-by-step explanation:

Answer 2

Less than $10

Step-by-step explanation:

If at the market price, the books aren't being purchased, it indicates that prices are too high and supply exceeds demand. The market price is above equilibrium price. In the same vein, the equilibrium price is less than $10.

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