Complete the table by calculating the "New Market Quantity Supplied" if Ann decided to stop tutoring, and then answer one question. Instructions: Enter your responses as a whole number. Price (per Hour) $50 45 40 35 30 Quantity Supplied by Ann 94 93 90 81 68 Quantity Supplied by Bob 35 33 30 27 20 Quantity Supplied by Carlos 19 14 10 6 2 Market Quantity Suppiled (= Ann + Bob +Carlos) 148 140 130 114 90 New Market Quantity Supplied Market Quantity Demanded 5 8 11 16 22
Complete the table by calculating the "New Market Quantity Supplied" if Ann decided to stop tutoring, and then answer one question. Instructions: Enter your responses as a whole number. Price (per Hour) $50 45 40 35 30 Quantity Supplied by Ann 94 93 90 81 68 Quantity Supplied by Bob 35 33 30 27 20 Quantity Supplied by Carlos 19 14 10 6 2 Market Quantity Suppiled (= Ann + Bob +Carlos) 148 140 130 114 90 New Market Quantity Supplied Market Quantity Demanded 5 8 11 16 22
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
ANSWER BOTH PARTS PLEASE
Economics
Transcribed Image Text:Complete the table by calculating the "New Market Quantity Supplied" if Ann decided to stop tutoring, and then answer one question.
Instructions: Enter your responses as a whole number.
Price
(per
Hour)
$50
45
40
35
30
25
20
15
10
Quantity
Supplied by
Ann
94
93
90
81
68
50
32
20
10
Quantity
Supplied by
Bob
35
33
30
27
20
12
7
0
0
Quantity
Supplied by
Carlos
19
14
10
6
2
0
0
0
0
Market Quantity
Suppiled (= Ann +
Bob +Carlos)
148
140
130
114
90
62
39
20
10
New Market
Quantity
Supplied
Market
Quantity
Demanded
5
8
11
16
22
30
39
47
57
What would the new equilibrium price of tutoring services be if Ann decided to stop tutoring?
$
per hour
Transcribed Image Text:The table below shows Iom's demand schedule for web tutoring before and after winning the lottery. Use the data provided to answer
the following questions:
Quantity Demanded (Hours per Semester)
Price (per Initial Quantity
Hour)
Demanded
$50
1
45
40
35
30
25
20
15
10
2
3
5
7
9
12
15
20
Instructions: Enter your responses as a whole number.
At what price would Tom buy 12 hours of web tutoring?
a. Without a lottery win.
per hour
b. With a lottery win.
$
After Increase
in Income
8
9
10
12
14
16
19
22
27
per hour
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