The market supply of lettuce in a small town is shown in the table below. Market Supply of Lettuce Quantity of Lettuce Supplied (heads) Price (dollars) Initial New $3.00 260 2.50 220 2.00 180 1.50 140 1.00 100 0.50 60 Instructions: Enter your answers as a whole number. a. Suppose there is a decrease in the cost of renting land that allows lettuce growers to produce 50 more heads of lettuce at each price. Find the new quantities supplied at each price, and then complete the new supply schedule in the table. b. At a price of $2.00 per head of lettuce, the original quantity supplied was heads of lettuce. heads of lettuce and the new quantity supplied is Imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The table below shows the quantity of peaches supplied in each state at each price. Individual and Market Supply of Peaches Quantity of Peaches Supplied (pounds) Price (dollars per pound) GA SC Market $10 24,000 16,000 8 20,000 13,000 6 16,000 10,000 4 12,000 7,000 2 8,000 4,000 Instructions: Enter your answers as a whole number. a. In the table, complete the column labeled "Market." b. How many pounds of peaches will be supplied to the market when the price is $6 per pound? pounds

1. The table below shows information on the demand and supply for Chicken, where the quantities of Chicken are measured in thousands. Price Qd QsGHS 120 50 36GHS 150 40 40GHS 180 32 48GHS 210 28 56GHS 240 24 70Table 1. Demand and Supply for Chicken   a. What is the quantity demanded and the quantity supplied of Chicken at a price of GHS 210?b. At what price is the quantity supplied equal to 48,000 Chickens?c. Graph the demand and supply curve for Chickens. Determine the equilibrium price and quantity from the graph? d. If the price was GHS 120, what would the quantities demanded and supplied be? Would a shortage or surplus exist? If so, how large would the shortage or surplus be?2. An exclusive Yoghurt manufacturer sells 4,000 gallons per month at a price of GHS 40 each. When the price is reduced to GHS 30 sales increase to 6,000 gallons per month.a. Calculate the price elasticity of demand for the Yoghurts over this price range.b. Is demand elastic, unit elastic or inelastic?c.…

Excess supply of a product will cause the price to As a consequence Market for pizza of the price change, the quantity demanded will quantity 14.00- 13.00- 12.00- 11.00- supplied will increase decrease At the current market price PMatet of $9.00, there i of thousand pizzas per month (Enter your response as a positive integer.) 10.00- 9.00- PMarket a 8.00- * 700- 8 6.00- E 500- 4.00- 3.00- 2.00- 1.00- 40 22 510 15 20 25 30 35 40 45 so 55 60 Thousands of pizzas per month 0.00-

Table 3.8 shows information on the demand andsupply for bicycles, where the quantities of bicycles aremeasured in thousands. a. What is the quantity demanded and the quantitysupplied at a price of $210?b. At what price is the quantity supplied equal to48,000?c. Graph the demand and supply curve for bicycles.How can you determine the equilibrium priceand quantity from the graph? How can youdetermine the equilibrium price and quantityfrom the table? What are the equilibrium priceand equilibrium quantity?d. If the price was $120, what would the quantitiesdemanded and supplied be? Would a shortageor surplus exist? If so, how large would theshortage or surplus be?