FIGURE 3 S1 $. S2 S3 Number of pizzas per week All the questions below are referring to Figure 3 and explain your answer 1) A decrease in the price of pizza sauce will cause a movement from Point B on supply curve S2 to 2) A decrease in the wage rate of pizza makers will cause a movement from Point B on supply curve S2 to Price of pizza

FIGURE 3 S1 $. S2 S3 Number of pizzas per week All the questions below are referring to Figure 3 and explain your answer 1) A decrease in the price of pizza sauce will cause a movement from Point B on supply curve S2 to 2) A decrease in the wage rate of pizza makers will cause a movement from Point B on supply curve S2 to Price of pizza

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Keeping all other things constant, graphically show the effects of the following on the SUPPLY CURVE FOR CORN. 1. Cost of fertilizers decrease 4. Less lands are devoted to corn production 2. Bad weather destroyed many corn farms 5. Philippines decreases the importation of yellow corn. 3. Wages of corn workers increase 6. Price of corn increases Pane 69 of 97
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E. Directions: Complete the data inside the supply schedule by providing actual computations and plot a graph after completing the answer inside the supply schedule. 1.Qs = ? Point A B C D E QS = 0 + 5P Price 2 6 10 2.P=? OD 20 40 3.Qs =? PLOT THE GRAPH: P 4.P = ? Qs 5. Qs = ? and for the third column draw
Decide if it is an increase (right shift) or a decrease (left shift) and write that next to the question. Then write the determinant of supply and a short explanation. Then draw a graph to show the shift. 6. The price of pecan shelling machines rises dramatically.
Chapter 3 Review Quantity Figure 3-1 6. Refer to Figure 3-1. Using the graph above and beginning on D1, a shift to D2 would indicate a (n): A. increase in quantity demanded. B. decrease in quantity demanded. C. increase in demand. D. decrease in demand. Price
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S1 S2 S3 B. Number of pizzas per week Figure 4: Price of Pizza Versus Number of Pizzas per week All the questions below are referring to Figure 4 and explain your answer 1. At equilibrium point B of the Supply Curve S2, explain what the impact of the increase in pizza sauce would be. 2. At equilibrium point B of the Supply Curve S2, explain what the impact would be if there was an industrial strike by the pizza workers union demanding a higher wage rate. %24 Price of pizza
Pricel 100 80 50 20 10 25 Supply 40 50 Demand Quantity Use the graph above to answer the following questions. The following points are on the demand curve: (10,80), (25,50), (40,20). The following points are on the supply curve: (10,20), (25,50), (40,80). Do not use dollar signs. Round to two decimal places. a) What price will consumers pay if the government promises to pay producers $80 per bushel and encourage producers to sell all of their production? b) What price will producers get if the government promises to pay producers $80 per bushel and encourage producers to sell all of their production? c) The government has promised to make up the difference between the price they promise producers and the price that consumers pay for the product. Calculate the deficiency payment in this case for all units produced.
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FIGURE 2 D Do Cartons of macaroni and cheese All the questions below are referring to Figure 2 and explain your answer i. Movement along the Curve Do ii. Shift of the Demand Curve from Do to D1 ii. Shift of the Demand Curve from D1 to Do iv. The decrease on the Price of macaroni The increase on the Price of Spaghetti V. Price %24
Price (dollars per pizza) 0 D₁ Figure 3.2.2 Quantity (thousands of pizzas per week) D₂ Refer to Figure 3.2.2. Which one of the following represents a decrease in quantity demanded? Select one: O a. a shift from D₁ to D₂ b. a shift from D₂ to D₁ c. a movement from A to B d. a movement from B to A none of the above