2. Let (inverse) demand be Pb = 100 - 3 Qb and (inverse) supply be Pv = 28 + 4 Qv. Consider the shift in demand illustrated (the intercept of Pb moves by 7), what is the ORIGINAL price? Answer: your answer Submit Price ($) $180 $ 160 $140 $120 $100 $80 $ 60 $ 40 $ 20 $0 $-20 0 5 Demand 10 Supply Quantity 15 Quantity Eqm 20 D + shift 25 30 35

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The market for paperback detective novels is perfectly competitive. Suppose we have identical book readers, and each individual book reader's demand for paperback novels is given by P=130-7Q. We have 160 book readers in the market. What is the market quantity demanded when the price of a paperback novel is $21. Enter a number only. Remember, fractions of goods are possible.

A student was asked to draw a demand and supply graph to illustrate the effect on the market for premium bottled water of a fall in the price of electrolytes used in some brands of premium bottled water, holding everything else constant. She drew the graph to the right and explained it as follows: "Electrolytes are an input to some brands of premium bottled water, so a fall in the price of electrolytes will cause the supply curve for premium bottled water to shift to the right (from S, to S₂). Because this shift in the supply curve results in a lower price (P₂), consumers will want to buy more premium bottled water and the demand curve will shift to the right (from D, to D₂) We know that more premium bottled water will be sold, but we can't be sure whether the price of premium bottled water will rise or fall. That depends on whether the supply curve or the demand curve has shifted farther to the right. I assume that the effect on supply is greater than the effect on demand, so I show…

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How does the nature of input impact the elasticity of supply of a good.  I need a brief explanation. Please don't write big essay

For a cement firm, the total revenue for the previous month was $6300  The price per unit of cement is $30 What quantity would the firm have sold?

General Electric (GE) produces wind turbines that generate wind power. Over the past 10 years, the advances in technology used to produce wind turbines has resulted in O GE increasing the quantity supplied of wind turbines. a decrease in the supply of wind-generated power. a rightward shift in the supply curve for wind-generated power. a movement up along the supply curve for wind-generated power.

Explain briefly what is a supply curve.