Price Rands Quantity Demanded (000 units) Quantity Supplied (000 units) 20.0 40 5 22.5 30 10 25.0 20 20 27.5 10 30 30.0 5 40 Using the data in Table 1 above, draw the diagram showing the market demand and market supply curves for the Hunters Dry Kwantu tops
|
Price Rands
|
Quantity Demanded (000 units) |
Quantity Supplied (000 units) |
|
20.0 |
40 |
5 |
|
22.5 |
30 |
10 |
|
25.0 |
20 |
20 |
|
27.5 |
10 |
30 |
|
30.0 |
5 |
40 |
Using the data in Table 1 above, draw the diagram showing the market
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Assume costs of production fell, resulting in an extra 20,000 units supplied at each of the above listed prices. With reference to your diagram in 1(a) (i) above and assuming that demand remains unchanged, draw the new supply curve. Clearly indicate the new point of equilibrium and the new equilibrium price and quantity.
by Bartleby ExpertAssume costs of production fell, resulting in an extra 20,000 units supplied at each of the above listed prices. With reference to your diagram in 1(a) (i) above and assuming that
by Bartleby Expert
