In the graph below, assume that the original demand and supply curves are given by D₁ and S, respectively. Question 1 Tasks: 1. Locate the original equilibrium point, graphically identifying both the original equilibrium price and quantity. Clearly label the equilibrium price as P, and equilibrium quantity as Q₁. 2. Now assume that supply decreases. How is this represented on the graph? Clearly show and label the changes. 3. Locate the new equilibrium point. What happens to the equilibrium price when supply decreases? What happens to the equilibrium quantity? Clearly label the new equilibrium price as P₂ and the new equilibrium quantity as Q₂. 4. Finally, discuss the idea of price as a rationing device in the context of this example. (Suggested response length: one paragraph or 3 to 4 sentences). S₁ IX Price Quantity

22. Hydrothermal vent systems are unique and face challenges, like a. extreme temperature b. no light intense pressure all of the above are correct c. d.

(describe) 3 ways in build an economy based on the principles of sustainability,

What are the advantages of forming a business partnership over a sole proprietorship? (multiple choice)   a.  Partners in business generally get along very well. b.  If the business fails, the partners normally share responsibility for the loss rather than assigning it to one person. c.  One partner can work on one component of the business, while the other partner can work on another. d.  Partnerships are relatively easy to start up

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