Directions: Using the supply graph you created for Steve’s Farm Tomatoes and what you have learned, answer each of the questions below. 1. If the price for a basket of tomatoes is $6, how many baskets will Steve’s Farm supply? 2. As the price for tomatoes increases, what occurs with Steve’s Farm willingness to supply them? 3. If the price for a basket of tomatoes is $10, how many baskets will Steve’s Farm supply? 4. As the price for tomatoes decreases, what will occur with Steve’s Farm willingness to supply tomatoes? 5. If prices for tomatoes fall to $2 a basket, what will Steve’s Farm most likely decide to do? 6. When Steve’s Farm decides to increase supply because of a major price increase, how might the farm increase its production?
Directions: Using the supply graph you created for Steve’s Farm Tomatoes and what you have learned, answer each of the questions below.
1. If the price for a basket of tomatoes is $6, how many baskets will Steve’s Farm supply?
2. As the price for tomatoes increases, what occurs with Steve’s Farm willingness to supply them?
3. If the price for a basket of tomatoes is $10, how many baskets will Steve’s Farm supply?
4. As the price for tomatoes decreases, what will occur with Steve’s Farm willingness to supply tomatoes?
5. If prices for tomatoes fall to $2 a basket, what will Steve’s Farm most likely decide to do?
6. When Steve’s Farm decides to increase supply because of a major price increase, how might the farm increase its production?
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