A demand schedule shows the relationship between two variables. So what are the two variables on the axes of the area in which we graph a demand schedule?
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Q: PRICE 8 35 30 25 R 15 10 10 15 20 QUANTITY 35 。
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A demand schedule shows the relationship between two variables. So what are the two variables on the axes of the area in which we graph a demand schedule?
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- Sam is a skilled toy maker who is able to produce both cars and balls. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Choice Hours Producing Produced (Cars) (Balls) (Cars) (Balls) A 8 0 4 0 B 6 2 3 8 C 4 4 2 14 D 2 6 1 16 E 0 8 0 17 On the following graph, use the blue points (circle symbol) to plot Sam's initial production possibilities frontier (PPF). Initial PPFNew PPF012345678302520151050BALLSCARS Suppose Sam is currently using combination D, producing one car per day. His opportunity cost of producing a second car per day is per day. Now, suppose Sam is currently using combination C, producing two cars per day. His opportunity cost of producing a third car per day is per day. From the previous analysis, you can determine that as Sam increases his production of cars, his opportunity cost of producing one more car .…Graph and label as either direct or indirect the relationships you would expect to find between (a) the number of inches of rainfal per month and the sale of umbrellas, (b) the amount of tuition and the level of enrollment at a university, and (c) the popularity of an entertainer and the price of her concert tickets.You are a financial analyst with a specialization in the motion pictureIndustry. You have been hired to analyze the prices of movie theater tickets. The following two events are occurring simultaneously in the Ghana:A new national chain opens new multi-screen movie theaters in most cities in Ghana.Movie theaters cut the price of popcorn and soft drinks in half.Draw a demand-and-supply graph showing equilibrium in the market for movie tickets hefore the above two events took place. Label the axes and curves. Label the initial equilibrium — before events (i) and (ii) - as P,and Q, on your graph.b.Now show on your graph how event (i) affects the demand or supply curves for tone teres, Brelly explain which of the demand or supply variables caused the eftect you are showing on your graph.Now slow on your graph how event (il) affects the demand or supply curves for ovis Lesets. Brielly explain which of the demand or supply variables caused the effe you are showing on your graph.Based on your…
- e Price -Q₁ Quantity Which of the following scenarios is BEST represented in the graph? A number of sellers increase B decrease in government taxes C resource costs increase D technology improvesThe following graph shows the market for pizzas in San Diego, where there are over a thousand pizza restaurants at any given moment. Suppose the number of pizza restaurants increases significantly. Show the effect of this change on the market for pizzas by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dollars per pizza) QUANTITY (Pizzas) Supply Demand Demand Supply (?)The following graph shows the market for croissants in Philadelphia, where there are over 1,000 bakeries at any given moment. Suppose croissant sellers expect that tomorrow the price of croissant will be significantly higher than today's price. Show the effect of this change on the market for croissants by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dollars per croissant) QUANTITY (Croissants) Supply Demand Demand Supply (?)
- The following graph shows the market for pizzas in New York City, where there are over a thousand pizza restaurants at any given moment. Suppose the price of grated cheese, a major ingredient in pizzas, suddenly increases. Show the effect of this change on the market for pizzas by shifting one or both of the curves on the following graph, holding all else constant.What type of relationship would you expect between thefollowing?a. Sales of hot dogs and sales of hot dog bunsb. The price of winter coats and sales of winter coatsc. The price of personal computers and the production ofpersonal computersd. Sales of toothbrushes and sales of cat foode. The number of children in a family and the number oftoys in a family2. Represent the following data in bar graph form.Consider the market for pens. Suppose that new medical concerns regarding graphite absorption have put pressure on schools to reduce pencil use in favor of pens. Further, the price of plastic, a major input in the pen production process, has dropped sharply. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dollars per pen) 10 Supply 8 7 X Demand 5 6 7 8 9 10 2 3 QUANTITY (Millions of pens) 9 1 0 10 Scenario 1 0 1 Scenario 2 9 Supply 8 7 X Demand 2 0 1 2 3 4 5 6 7 8 9 10 QUANTITY (Millions of pens) 1 0 Next, complete the following graph, labeled Scenario 2, by shifting the supply and demand curves in the same way that you did on the Scenario 1 graph. Demand 0 Supply Demand Supply ?
- The demand for coffee is given by the following equation, where QD�� stands for the quantity demanded and P stands for price. QD=100−4PQD= 100- 4P The supply of coffee is given by the following equation, where QS�� stands for the quantity supplied and P stands for price. QS=-10+2PQS= -10+ 2P For parts a-d, consider a graph of the demand and supply curves with price on the vertical axis and quantity on the horizontal axis. What is the slope of demand? Slope = At what price is quantity demanded equal to zero (this is, graphically, the vertical intercept of Demand)? P = What is the slope of supply? Slope = At what price is quantity supplied equal to zero (this is, graphically, the vertical intercept of Supply)? P =Stores commonly offer a cheaper unit price for large quantity purchases. Quantity Unit Price 100.00 80.00 70.00 50.00 40.00 Down 1 2 5 10 20 B P a. Make a graph of the data large enough to include a quantity of 30 (use graph paper, label completely, and choose the correct axis for the independent (x) and dependent (y) variables). b. Find the slope between quantities 1 and 2. Explain the meaning of the slope in context. The slope is which means Select an answer c. Find the slope between quantities 5 and 10. d. Add a trend line to the graph. e. Estimate the unit price for a quantity of 30 to the nearest dollar. S f. Estimate the quantity for a unit price of $44 to the nearest unit. unitsIndicate how each of the following might affect the data shown in the table and graph in Figure 2 of this appendix: a. GSU’s athletic director schedules higher-quality opponents.b. An NBA team locates in the city where GSU plays.c. GSU contracts to have all its home games televised.
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