6 01:10:00 The table below shows the market demand and supply schedules for pumpkins. (1) Price ($ per pumpkin) $10.00 8.00 6.00 4.00 2.00 (2) (3) Quantity Demanded Quantity Supplied (pumpkins per (pumpkins per month) month) 23,000 33,000 43,000 53,000 63,000 55,000 49,000 43,000 37,000 31,000 (4) Surplus (+) or Shortage (-) 32,000 16,000 0 -16,000 -32,000 (5) New Quantity Supplied (pumpkins per month) 38,000 33,000 28,000 23,000 16,000 (6) New Surplus (+) or Shortage (-) 15,000 -15,000 -30,000 -47,000 a. Complete the column (3) in the accompanying table. b. Draw a graph showing the demand and supply curves D and So. Plot only the endpoints of the demand curve D, supply curve So, and demand curve D₁ for part (e). Plot 6 points I total in the graph.

6 01:10:00 The table below shows the market demand and supply schedules for pumpkins. (1) Price ($ per pumpkin) $10.00 8.00 6.00 4.00 2.00 (2) (3) Quantity Demanded Quantity Supplied (pumpkins per (pumpkins per month) month) 23,000 33,000 43,000 53,000 63,000 55,000 49,000 43,000 37,000 31,000 (4) Surplus (+) or Shortage (-) 32,000 16,000 0 -16,000 -32,000 (5) New Quantity Supplied (pumpkins per month) 38,000 33,000 28,000 23,000 16,000 (6) New Surplus (+) or Shortage (-) 15,000 -15,000 -30,000 -47,000 a. Complete the column (3) in the accompanying table. b. Draw a graph showing the demand and supply curves D and So. Plot only the endpoints of the demand curve D, supply curve So, and demand curve D₁ for part (e). Plot 6 points I total in the graph.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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