5. Consider the market for bicycles as discussed in problems(1) and (3). If the price was $120, would a situation of excessdemand or excess supply exist? Identify this price level and thequantities demanded and supplied on a graph like the one you drewfor problem (3). Describe the economic forces that will tend tomove the price of $120 toward the equilibrium price. . . .
https://proficientwriters.net/wp-content/uploads/2020/04/logo-300x60.png 0 0 Paul https://proficientwriters.net/wp-content/uploads/2020/04/logo-300x60.png Paul2021-05-03 04:47:142021-05-03 04:47:145. Consider the market for bicycles as discussed in problems(1) and (3). If the price was $120, woul