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Demand and supply of umbrellas QUESTION 2 Sludy the graph below and answer the questions that follow: 120 100 80 60 40 20 10 11 7. 8. Name the vertical/y-axis. (2) 2.1 2.2 Name the horizontal /x-axis. (2) 2.3 How many umbrelas are consumers willing to buy at a price of R70? (2)

Demand and supply of umbrellas QUESTION 2 Sludy the graph below and answer the questions that follow: 120 100 80 60 40 20 10 11 7. 8. Name the vertical/y-axis. (2) 2.1 2.2 Name the horizontal /x-axis. (2) 2.3 How many umbrelas are consumers willing to buy at a price of R70? (2)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Demand and supply of umbrellas
Demand and supply of umbrellas Sludy the graph below and answer the questions that tollow: QUESTION 2 120 100 80 60 40 20 3 4. 11 7. 8 10 2.1 Name the vertical/y-axis. (2) 2.2 Name the horizontal / x-axis (2) 2.3 How many umbrelas are consumers willing to buy at a price of R70? (2) 2.4 How many umbrellas are the producers willing to supply at R100? (2) 2.5 What will the impact of a price of R100 be on the producers? (4) (2) 2.6 Name the intersection point (6:R50).
Transcribed Image Text:Demand and supply of umbrellas Sludy the graph below and answer the questions that tollow: QUESTION 2 120 100 80 60 40 20 3 4. 11 7. 8 10 2.1 Name the vertical/y-axis. (2) 2.2 Name the horizontal / x-axis (2) 2.3 How many umbrelas are consumers willing to buy at a price of R70? (2) 2.4 How many umbrellas are the producers willing to supply at R100? (2) 2.5 What will the impact of a price of R100 be on the producers? (4) (2) 2.6 Name the intersection point (6:R50).
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