.4. Draw a demand line for celery. No need to find real numbers, just draw the line. Explain why the demand line slopes up. (For the X-axis use Quantity of celery from 0 to 100,000 boxes of celery a month. For the Y axis use price from $0 to $30 a box.) 2. Draw a supply line for celery. Explain why the supply line slopes up. No need to find real numbers, just draw the line. (For the X-axis use Quantity of celery from 0 to 100,000 boxes of celery a month. For the Y axis use price from $0 to $30 a box.) 3. Draw a market diagram for celery. Put the demand and supply line on the same diagram. 4. The demand line represents those consumers who are willing and able to pay. In short, if you can not pay, then you are not part of the
.4. Draw a demand line for celery. No need to find real numbers, just draw the line. Explain why the demand line slopes up. (For the X-axis use Quantity of celery from 0 to 100,000 boxes of celery a month. For the Y axis use price from $0 to $30 a box.) 2. Draw a supply line for celery. Explain why the supply line slopes up. No need to find real numbers, just draw the line. (For the X-axis use Quantity of celery from 0 to 100,000 boxes of celery a month. For the Y axis use price from $0 to $30 a box.) 3. Draw a market diagram for celery. Put the demand and supply line on the same diagram. 4. The demand line represents those consumers who are willing and able to pay. In short, if you can not pay, then you are not part of the
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Q.4.
Draw a demand line for celery. No need to find real numbers, just draw the line. Explain why the demand line slopes up. (For the X-axis use Quantity of celery from 0 to 100,000 boxes of celery a month. For the Y axis use price from $0 to $30 a box.)
2. Draw a supply line for celery. Explain why the supply line slopes up. No need to find real numbers, just draw the line. (For the X-axis use Quantity of celery from 0 to 100,000 boxes of celery a month. For the Y axis use price from $0 to $30 a box.)
3. Draw a market diagram for celery. Put the demand and supply line on the same diagram.
4. The demand line represents those consumers who are willing and able to pay. In short, if you can not pay, then you are not part of the demand line. Explain how this does or does not complicate the use of the demand and supply model as a depiction of actual situations.
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