100 Demand 90 Supply Curve 80 70 60 Equilibrium 50 40 30

Question b

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Use the table below to answer the following questions: Quantity Supplied Price Quantity Demanded 5000 $2 12,000 6000 $4 9500 7000 $6 7000 8000 $8 4500 9000 $10 2000 a) If the price in this market is $8, find quantity demanded. b) If the price in this market is $8, find quantity supplied. c) If the price in this market is $8, will there be a surplus (excess supply) or a shortage (excess demand)? d)If the price in this market is $8, how big is the imbalance in the market? e) Find the equilibrium price and quantity.   Question 3 options:

Macmillan Learning Calculate the price elasticity of supply for Belinda's Bakery's banana bread. When the price changes by 24%, the quantity supplied changes by 55%. Round your answer to two decimal places.

1. The following headline appeared in the London Times, "England's sheep population nearly destroyed by famine!" How will this affect the supply of wool around the world? Show the shift in supply and name the determinant.

None

Which of the following would NOT shift the supply curve of laptops to the right: *A.an advancement in the technology used in manufacturing laptopB.manufacturers’ expectations of lower watch prices in the futureC.an increase in the price of laptopD.a decrease in the wages/salaries of workers employed to manufacture laptops

In March 2020 the government announced that there was a deadly virus in the country, the likely economic effect in the market for hand sanitizers was:   A. The demand curve remained constant   B. The demand curve shifted right   C. The demand curve shifted left    D. There was a downward movement along the demand curve

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