Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 3, Problem 16APA
(a)
To determine
Rise in price and supply.
(b)
To determine
Rise in price and supply.
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Students have asked these similar questions
Table 3.9 illustrates the market's demand and supply for cheddar cheese. Graph the data and find the
equilibrium. Next, create a table showing the change in quantity demanded or quantity supplied, and a
graph of the new equilibrium, in each of the following situations:
a. The price of milk, a key input for cheese production, rises, so that the supply decreases by 80 pounds
at every price.
b.
A new study says that eating cheese is good for your health, so that demand increases by 20% at every
price.
Price per Pound
$3.00
$3.20
$3.40
$3.60
TABLE 3.9
I
Qd
Qs
750 540
700 600
650 650
620 700
55. Table 3.9 illustrates the market's demand and
supply for cheddar cheese. Graph the data and find the
equilibrium. Next, create a table showing the change in
quantity demanded or quantity supplied, and a graph of
the new equilibrium, in each of the following situations:
a. The price of milk, a key input for cheese
production, rises, so that the supply decreases by
80 pounds at every price.
b. A new study says that eating cheese is good for
your health, so that demand increases by 20% at
every price.
Price per Pound
Qd
Qs
$3.00
750
540
$3.20
700
600
$3.40
650
650
$3.60
620
700
$3.80
600
720
$4.00
590
730
Describe how each of the following will affect the supply of personal computers:a. A rise in wage ratesb. An increase in the number of sellers of computersc. A tax placed on the production of computersd. A subsidy for the production of computers
Chapter 3 Solutions
Macroeconomics
Ch. 3.1 - Prob. 1RQCh. 3.1 - Prob. 2RQCh. 3.1 - Prob. 3RQCh. 3.2 - Prob. 1RQCh. 3.2 - Prob. 2RQCh. 3.2 - Prob. 3RQCh. 3.2 - Prob. 4RQCh. 3.2 - Prob. 5RQCh. 3.3 - Prob. 1RQCh. 3.3 - Prob. 2RQ
Ch. 3.3 - Prob. 3RQCh. 3.3 - Prob. 4RQCh. 3.3 - Prob. 5RQCh. 3.4 - Prob. 1RQCh. 3.4 - Prob. 2RQCh. 3.4 - Prob. 3RQCh. 3.4 - Prob. 4RQCh. 3.4 - Prob. 5RQCh. 3.5 - Prob. 1RQCh. 3.5 - Prob. 2RQCh. 3.5 - Prob. 3RQCh. 3 - Prob. 1SPACh. 3 - Prob. 2SPACh. 3 - Prob. 3SPACh. 3 - Prob. 4SPACh. 3 - Prob. 5SPACh. 3 - Prob. 6SPACh. 3 - Prob. 7SPACh. 3 - Prob. 8SPACh. 3 - Prob. 9SPACh. 3 - Prob. 10SPACh. 3 - Prob. 11APACh. 3 - Prob. 12APACh. 3 - Prob. 13APACh. 3 - Prob. 14APACh. 3 - Prob. 15APACh. 3 - Prob. 16APACh. 3 - Prob. 17APACh. 3 - Prob. 18APACh. 3 - Prob. 19APACh. 3 - Prob. 20APACh. 3 - Prob. 21APACh. 3 - Prob. 22APACh. 3 - Prob. 23APACh. 3 - Prob. 24APACh. 3 - Prob. 25APACh. 3 - Prob. 26APACh. 3 - Prob. 27APA
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