8. The market for pizza has the following demand and supply schedules: Price in $ Quantity Demanded Quantity Supplied 26 4 135 104 53 81 81 68 98 53 39 110 121 a) Graph the demand and supply curves. (Graph should be properly labelled) b) What is the equilibrium price and equilibrium quantity? c) Show graphically the shifts in demand curve OR supply curve of Pizza in the following cases; Income of the consumers decreases (consider pizza is a normal good) Prices of Burgers increases (consider burgers are substitute to pizza) (1) (ii) (ii1) Number of pizza sellers increased.

8. The market for pizza has the following demand and supply schedules: Price in $ Quantity Demanded Quantity Supplied 26 4 135 104 53 81 81 68 98 53 39 110 121 a) Graph the demand and supply curves. (Graph should be properly labelled) b) What is the equilibrium price and equilibrium quantity? c) Show graphically the shifts in demand curve OR supply curve of Pizza in the following cases; Income of the consumers decreases (consider pizza is a normal good) Prices of Burgers increases (consider burgers are substitute to pizza) (1) (ii) (ii1) Number of pizza sellers increased.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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