Suppose the supply of apples in a competitive market decreases due to unfavorable weather conditions. As a  result, there will be  A. a surplus of apples at the existing actual price as the supply curve shifts to the right B. a shortage of apples at the existing actual price as the supply curve shifts to the left C. upward pressure on price that will move it to a new equilibrium that is above the initial equilibrium price and  elimination of a shortage as the quantity moves to equilibrium D. downward pressure on price as a shortage is eliminated. E. B and C, only

Chapter 2 Problem #5. Suppose the demand and supplycurves for a product are given by QD= 500 −2PQS=−100 + 3Pa. Graph the supply and demand curves.b. Find the equilibrium price and quantity.Qd= Q3500-2P= -100+3PP= Pe = 120 & Qe=260The equilibrium price is $120 and the quantity is 260c. If the current price of the product is $100, what is thequantity supplied and the quantity demanded? How would you describe thissituation, and what would you expect to happen in this market?d. If the current price of the product is $150, what is thequantity supplied and the quantity demanded? How would you describe thissituation, and what would you expect to happen in this market?e. Suppose that demand changes to QD= 600 – 2P.Find the new equilibrium price and quantity, and show this on your graph.***PLEASE SHOW ALL EQUATIONS AND METHODS,

Equilibrium: Where Supply Meets Demand - End of Chapter Problem rise and the equilibrium price will a. If the supply of green tea rises, the equilibrium quantity will is because the equilibrium quantity moves down the demand curve to a lower price and a higher quantity demanded b. Shift the appropriate curve or curves below to show the effect of this change. Market for Green Tea S fall . This

An increase in demand for burgers O results in a movement downward and to the right along a demand curve. O results in a movement upward and to the left along a demand curve. results in an increase in quantity demanded at every price. shifts the demand curve to the left.