NEED SOLUTION ASAP!! Thank youu 1. The market for pizza has the following demand and supply schedules: Price Quantity Demanded Quantity Supplied $ 4 135 pizzas 26 pizzas 5 104 53 6 81 81 7 68 98 8 53 110 9 39 121 a. Graph the demand and supply curves. What are the equilibrium price and equilibrium quantity in this market? b. Say, the number of buyers increased that caused the movement of quantity demanded. 135 pizzas became 140, 104 to 110, 81 to 86, 68 to 75, 53 to 60, and 39 to 46. What are the new equilibrium price and equilibrium quantity? c. Pizza producers are forced to increase the quantity supplied due to the influx of buyers. The new technology helped them to make 32 pizzas from the original quantity of 26. Likewise, there are 10 additional pizzas for the quantities of 53, 81, 98, 110, and 121. What are the new equilibrium price and equilibrium quantity? d. What are the equilibrium price and equilibrium quantity if simultaneously the non-price factors of demand and supply intervened? Note: Your answer should be like this example, equilibrium price = $20 and equilibrium quantity = 350 pizzas. Use Microsoft Excel to show the curves. Construct the demand and supply schedules. Please put the necessary label in the chart and be creative in presenting it.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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NEED SOLUTION ASAP!! Thank youu

1. The market for pizza has the following demand and supply schedules:

Price	Quantity Demanded	Quantity Supplied
$ 4	135 pizzas	26 pizzas
5	104	53
6	81	81
7	68	98
8	53	110
9	39	121

a. Graph the demand and supply curves. What are the equilibrium price and equilibrium quantity in this market?

b. Say, the number of buyers increased that caused the movement of quantity demanded. 135 pizzas became 140, 104 to 110, 81 to 86, 68 to 75, 53 to 60, and 39 to 46. What are the new equilibrium price and equilibrium quantity?

c. Pizza producers are forced to increase the quantity supplied due to the influx of buyers. The new technology helped them to make 32 pizzas from the original quantity of 26. Likewise, there are 10 additional pizzas for the quantities of 53, 81, 98, 110, and 121. What are the new equilibrium price and equilibrium quantity?

d. What are the equilibrium price and equilibrium quantity if simultaneously the non-price factors of demand and supply intervened?

Note:

Your answer should be like this example, equilibrium price = $20 and equilibrium quantity = 350 pizzas.
Use Microsoft Excel to show the curves.
Construct the demand and supply schedules.
Please put the necessary label in the chart and be creative in presenting it.

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