2) This same economist is also interested in how the price of this particular item affects its supply. At a price of $p, a quantity,q, of this item is produced each month. Suppose that we write q=S(p). Using complete and descriptive sentences, explain the meaning of each of the following statements: a) S(500) = 1,250. b) S'(500) = 50.

How do i figure this one out?

The supply and demand for a computer in a store are given for two prices: for a price of $800, the demand quanity is 50 and the supply quanity 230: for a price of $50, the demand quanity is 150 and the supply quantity 150.  Let a represent the quanity  A. Write an equation representing the demand function  B. Write an equation representing the supply function C. Find the equlibrium quantity and price

Assume we are looking at the corn market (corn is a normal good). For each of the following statements determine whether the supply or the demand curve shifts, and whether it shifts up or down. - Household income increases. - The price of fertilizer increases. - A new, more efficient harvester is invented. - The price of rice falls. - A large portion of the population discovers that they are allergic to corn.

Solve the attachment.

In each problem, you must explain the scenario’s effect on the market. If the quantity supplied or the quantity demanded changes, state how (increase or decrease). If instead, the scenario meets one of the criteria above, indicating there is a shift. If one of the curves shifts, state why and the direction it shifts (left or right). You should then state the effect on price (increase or decrease)..⦁   You are a wheat farmer. Locusts attack your wheat.                  ⦁   Price of gasoline goes up. You own a gas station.                  ⦁   The price of corn goes up. You normally plant soybeans.                     ⦁   The price of peanut butter goes up. You sell jelly.       ⦁   Your patent runs out on your popular and necessary drug.              ⦁   Amazon has picked your small town to be their new worldwide headquarters.        ⦁   The country is going into a recession. You sell jewelry.          ⦁   The price of TVs just decreased by 20%.                     ⦁   Your product was…

Sales for home weight systems have spiked in the last 7 months as more Americans are working out in the safety of their homes than at public gyms. On a piece of scrap paper, follow the four-step process to predict the ultimate change to equilibrium price and quantity.

Please show work. Thank you

Price A B Quantity Price D Quantity The market for BREAD is represented by the dark solid curves in the two graphs above (demand and supply are shown separately to make the diagram easier to read). Indicate which curve (or curves) we would move to with each of the following changes.

Consider the pizza market in BC. Suppose an innovation in cheese processing technology makes it possible to produce more pizzas at a lower cost than ever before. Holding all other factors constant, What will be the effect of this technology on pizza market. Draw a graph and explain.