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- Price ($) a) Suppose that the demand for pizzas were to increase by 120 pizzas per day. Show the new demand, in the graph below: Plot the two end points using the tool provided in the graphing area below. Plot only the end points of the curve and position those points on the edge of the graphing area. 64 56 48 40 32 24 16 8 0 40 80 120160200240 280 320 360 400 440 480 S D Tools Demand Help i Save & Exit SubmitThe following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)The following table represents the market for disposable cameras. Price ($) Quantitydemanded Quantitysupplied5.00 15 010.00 13 315.00 11 620.00 9 925.00 7 1230.00 5 1535.00 3 1840 1 21 Table 1. i. Use the data in the table above to plot a supply and demand curve ii. Identify the equilibrium price and quantityB. Use the midpoint formula to calculate the price elasticity when demand changes from $20to $15 and explain if the disposable cameras are elastic or inelastic.C.…
- The Unique Gifts catalog lists a "super loud and vibrating alarm clock." Their records indicate the following information on the relation of monthly supply and demand quantities to the price of the clock. Demand Supply Price 167 132 $32 137 172 $56 Use this information to find the following. (b) the demand equation p (c) the supply equation p (d) the equilibrium quantity and priceThe diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). The area of the triangle shown on the diagram is $ (Enter your response as an integer.) (D) Price (dollars per unit) 100- 90- 80- 70- 65 60- 50- 40- 30- 20- 10- 0- 39 :25 51 10 20 30 40 50 60 70 80 90 Quantity (1,000s of units per unit of time)The diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). The area of the triangle shown on the diagram is $. (Enter your response as an integer.) Show Transcribed Text Price (dollars per unit) 3 100 C 90- 80- 70- 60-57 50- 40- 30- 21 20- 10- 0+ 33 69 0 10 20 30 40 50 60 70 80 90100 Quantity (1,000s of units per unit of time)
- Refer to the figure and table to answer the following questions: Price (dollars per ounce) 0.50 0.45 0.40 0.35 0.30 2 0.25 0.20 0.15 0.10 0.05 ABCDEFG с H J A B с Point H to | = D E F G Price (per Ounce) $0.50 0.45 0.40 0.35 0.30 0.25 0.20 0.15 0.10 0.05 H 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Quantity Demanded (ounces per show) 21 Quantity Demanded (Ounces per Show) 1 2 4 6 9 12 16 20 25 30 Instructions: In part a, round your responses to one decimal place. In part b, round your responses to two decimal places. a. Compute the price elasticity between points C and D and points H and I. Point C to D = b. Compute the total revenue at points C, D, H, and I. At point C = $ At point D = $ At point H = $ At point I = $ c. If there is a price decrease, total revenue will increase when demand is (Click to select)12:39 LTE AA course.apexlearning.com Economics E Apex Learning 1 2.4.2 Test (CST): Microeconomics Question 10 of 20 The graph shows the supply and demand curves for a certain product, which has a current selling price of $300. The laws of supply and demand most support which conclusion about the product? Demand $500 Supply $400 $300 $200 $100 1,000 2,000 3,000 4,000 5,000 Quantity O A. The current selling price matches the product's equilibrium price. O B. The current selling price for the product is too high. O c. The current selling price for the product is the result of a surplus. O D. The current selling price for the product is too low. SUBMIT E PREVIOUS PriceExercise 1: Read and graph the supply and demand schedules bebw to find the price where the market is at equilibrium (Equilibrium is when quantity demanded and quantity supplied are equal) Price per Video Game in dollars) Quantity Demanded (in millions) Quantity Supplied (in millons) 100 100 1100 90 200 1000 300 900 70 400 800 60 500 700 50 600 600 40 700 500 30 800 400 20 900 300 10 1000 200 1100 100 888888888
- The following graph shows the monthly demand and supply curves in the market for tote bags. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per tote bag) 80 72 64 58 48 40 32 24 16 8 0 X 0 50 100 150 200 250 QUANTITY (Tote bags) Supply 300 350 400 450 500 The equilibrium price in this market is $ Demand Graph Input Tool Market for Tote bags Price (Dollars per tote bag) Quantity Demanded (Tote bags) per tote bag, and the equilibrium quantity is Price (Dollars per tote bag) Shortage or Surplus 48 32 24 Shortage or Surplus Amount (Tote bags) 500 Quantity Supplied (Tote bags) Pressure tote bags per month. Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and whether…what are Factors affecting the demand of gasolinePRICE (Yen per gram) 100 90 80 70 60 40 30 20 10 0 0 0 Demand + 20 40 60 80 100 120 140 160 180 200 QUANTITY (grams of uff per month) Graph Input Tool Demand for Uff Price of Uff (Yen per gram) to eat my uff this morning, but there wasn't any Quantity Demanded DEMAND SHIFTERS Average Income -(Yen per month) Price of Tulg (Yen per gram) Price of Snick (Yen per gram) Of Suppose that the price of a gram of uff decreased from 50 yen to 40 yen. This would cause a an increase in 50 100 100 20 50 Plug any value lower than the current number into the Average Income box. A decrease in average income causes a leftward the demand curve. the demand curve and therefore When the prices of tulg or snick change, there is a shift of the demand curve for uff. The directions of these changes imply that snick and uff are , and that tulg and uff are . For example, a Hermetian might say, "I went in my fridge. So instead of having uff for breakfast, I ate some