ModNameSupply and Demand Assessment8. If the price of a doughnut is $.50 will there be a shortage or surplus? Explain.9. If the price of a doughnut is $.20 will there be a shortage or surplus? Explain.10. Based on the following circumstances, will there be an increase in demand for jelly-filled doughnuts or adecrease in the demand for jelly-filled doughnuts? Circle the correct bold-answer.Circumstancea. The number of consumers increases.b. The consumers' income decreases.c. Jelly-filled doughnuts becomethe most popular snack.d. The cost of a fruit pastry increases.e. The cost of coffee served with the doughnutsincreases drastically - $10:00 a cupf. The number of consumers decreases.g. The cost of a cherry strudel decreases.CircumstanceDate11. All of the examples above will result in (circle the correct answer)a movement along the demand curvea. a shift in-the demand curvea. The cost of sugar, flour, and jelly increases.b. A new machine is invented to producedoughnuts faster.c. The workers in the doughnut factory becomeless productive.Demand for Jelly-filled DoughnutsIncrease / DecreaseIncrease / DecreaseIncrease / Decreased. The government passes a policy that statesthat all doughnuts must meet certainhealth regulations.e. All doughnut factories must pay more taxes.f. The factory workers become more productive.g. Doughnut factories are given a subsidyfrom the government.Increase / DecreaseIncrease / DecreaseSupply of Jelly-filled DoughnutsIncrease/ DecreaseIncrease / DecreaseIncrease / DecreaseIncrease / DecreaseIncrease/DecreaseIncrease/ DecreaseIncrease / DecreaseIncrease / DecreaseIncrease / Decrease12. Based on the following circumstances, will there be an increase in the supply of jelly-filled doughnuts or-a decrease in the supply of jelly-filled doughnuts? Circle the correct bold answer. NameSupply and Demand AssessmentSupply and Demand31. Create a demand graph using the following table of values:PRICE QUANTITY10500204503040040350503006025070200Mod2. Create a supply graph using the following table of values:PRICE10203040506070QUANTITY200250300350400450500-Date3. Using the graphs-above, what is the quantity demanded if the price is $10?4. Using the graphs above, what would be the quantity demanded at a price of $80?demand at $80 lower than it is at $10?Why is the5. Create a graph by plotting the quantities both tables above into the graph below. Make the demandquantity plots one color and the supply quantity plots another color. After your plots are done, connect thelines and be sure to make the demand and supply lines different colors. At which point do the two linesintersect? What is the price of this intersection? This is how we determine what things are worth!Home L

Demand refers to the quantity of a particular good or service that consumers are willing and able to…

Answered: 1. Create a demand graph using the…

1. Create a demand graph using the following table of values: PRICE QUANTITY 10 500 20 450 30 400 40 350 50 300 250 200 60 70

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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