What will happen to the equilibrium price and quantity of cotton shirts if there is an increase in the price of wool shirts and a decrease in the price of raw cotton (Use a demand and supply diagram to explain your answer)

HWICH DA) The following graph presents the market for bikes in 2017. Between 2017 and 2018, the equilibrium quantity of bikes remained constant, but the equilibrium price of bikes decreased. Given this information, you can conclude that between 2017 and 2018, the supply of bikes Increased and the demand for bikes increased Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2018. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps backe to its original position, just drag it a little farther." PRICE (Dollars per bike) Supply Demand Demand Supply X ?

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Ch 23  Economics

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Demand is highest for watermelon in the summer, yet that is also when prices are lowest. Draw a graph showing both demand and supply for watermelon in both the summer and the winter (i.e. two demand curves and two supply curves on one graph) that illustrates how this situation could be possible.

Jim Whitney Economics 101 Market equilibrium worksheet In the diagram to the right, plot the following hypothetical supply and demand information for personal computers (PCs): 1. Price 3000 Quantity Demanded (Qd - millions) Price ($) Quantity Supplied (Qs - millions) 2500 2000 2 $3,000 17 2,500 2,000 4 16 1500 7 14 1000 11 1,500 11 16 1,000 7 500 22 500 2 12 16 20 24 Personal computers (millions) 4 8 The equilibrium price "clears the market," in that quantity demanded equals quantity supplied. The equilibrium price = 2. 3. At a price of $2,500... At a price of $1,000... (1) Is there excess demand or excess supply? (2) How many million units? (3) Are PC inventories rising or falling? (4) Is the incentive to raise or lower price? 4. Indicate whether equilibrium price (P) and quantity (Q) will rise (+) or fall (-) if ... Price Quantity Demand shifts right (1) Demand shifts left (2) Supply shifts right (3) (4) Supply shifts left

Draw a supply and demand diagramshowing the impact of each of the following events on equilibrium price and quantity in the market for paint. Briefly explain your reasoning. There have recently been some important cost-saving inventions in the paint-making industry. Hailstorms damaged several factories that make paint, forcing them to close down for several months. There have recently been some important cost-saving inventions in the paint-making industry, and, because of severe hailstorms, many people need to repaint now.

Draw a supply and demand diagramshowing the impact of each of the following events on equilibrium price and quantity in the market for paint. Briefly explain your reasoning. There have recently been some important cost-saving inventions in the paint-making industry. Hailstorms damaged several factories that make paint, forcing them to close down for several months. There have recently been some important cost-saving inventions in the paint-making industry, and, because of severe hailstorms, many people need to repaint now.

What happens to the quantity of smartphones supplied and the supply of smartphones if the price of a smartphone rises? Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of supply. Then draw an arrow to indicate what happens to the quantity of smartphones supplied when the price of a smartphone rises. A rise in the price of a smartphone OA. does not change; does not change OB. increases; increases OC. does not change; increases incroscoe dinge not channe the quantity supplied and supply. 500 450- 400- 350- 300- 250 200 150 100- Price (dollars per smartphone) 50- 0- 0 Quantity (millions of smartphones per ye