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One of the tables below represents a supply curve; the other represents a demand curve. Table 1 p ($/unit) 180 165 153 143 129 126 118 12 16 20 24 28 q (quantity) 4 8. Table 2 p ($/unit) 4 32 66 109 166 230 314 q (quantity) 4 8 12 16 20 24 28 (a) Which table represents which curve? Why? Table 1 is the demand curve since as price increases the quantity sold decreases, and Table 2 is the supply curve because while the price increases, the quantity supplied increases. Table 1 is the supply curve because while the price increases, the quantity supplied decreases, and Table 2 is the demand curve since as price increases the quantity sold increases. °Table 1 is the demand curve since as price increases the quantity sold increases, and Table 2 is the supply curve because while the price increases, the quantity supplied decreases. °Table 1 is the supply curve because while the price increases, the quantity supplied increases, and Table 2 is the demand curve since as price increases the quantity sold decreases. eTextbook and Media (b) At a price of $128, approximately how many items would consumers purchase? items eTextbook and Media (c) At a price of $128, approximately how many items would manufacturers supply? items eTextbook and Media

One of the tables below represents a supply curve; the other represents a demand curve. Table 1 p ($/unit) 180 165 153 143 129 126 118 12 16 20 24 28 q (quantity) 4 8. Table 2 p ($/unit) 4 32 66 109 166 230 314 q (quantity) 4 8 12 16 20 24 28 (a) Which table represents which curve? Why? Table 1 is the demand curve since as price increases the quantity sold decreases, and Table 2 is the supply curve because while the price increases, the quantity supplied increases. Table 1 is the supply curve because while the price increases, the quantity supplied decreases, and Table 2 is the demand curve since as price increases the quantity sold increases. °Table 1 is the demand curve since as price increases the quantity sold increases, and Table 2 is the supply curve because while the price increases, the quantity supplied decreases. °Table 1 is the supply curve because while the price increases, the quantity supplied increases, and Table 2 is the demand curve since as price increases the quantity sold decreases. eTextbook and Media (b) At a price of $128, approximately how many items would consumers purchase? items eTextbook and Media (c) At a price of $128, approximately how many items would manufacturers supply? items eTextbook and Media

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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One of the tables below represents a supply curve; the other represents a demand curve. Table 1 p ($/unit) 180 165 153 143 129 126 118 12 16 20 24 28 q (quantity) 4 8. Table 2 p ($/unit) 4 32 66 109 166 230 314 q (quantity) 4 8 12 16 20 24 28 (a) Which table represents which curve? Why? Table 1 is the demand curve since as price increases the quantity sold decreases, and Table 2 is the supply curve because while the price increases, the quantity supplied increases. Table 1 is the supply curve because while the price increases, the quantity supplied decreases, and Table 2 is the demand curve since as price increases the quantity sold increases. °Table 1 is the demand curve since as price increases the quantity sold increases, and Table 2 is the supply curve because while the price increases, the quantity supplied decreases. °Table 1 is the supply curve because while the price increases, the quantity supplied increases, and Table 2 is the demand curve since as price increases the quantity sold decreases. eTextbook and Media (b) At a price of $128, approximately how many items would consumers purchase? items eTextbook and Media (c) At a price of $128, approximately how many items would manufacturers supply? items eTextbook and Media
Transcribed Image Text:One of the tables below represents a supply curve; the other represents a demand curve. Table 1 p ($/unit) 180 165 153 143 129 126 118 12 16 20 24 28 q (quantity) 4 8. Table 2 p ($/unit) 4 32 66 109 166 230 314 q (quantity) 4 8 12 16 20 24 28 (a) Which table represents which curve? Why? Table 1 is the demand curve since as price increases the quantity sold decreases, and Table 2 is the supply curve because while the price increases, the quantity supplied increases. Table 1 is the supply curve because while the price increases, the quantity supplied decreases, and Table 2 is the demand curve since as price increases the quantity sold increases. °Table 1 is the demand curve since as price increases the quantity sold increases, and Table 2 is the supply curve because while the price increases, the quantity supplied decreases. °Table 1 is the supply curve because while the price increases, the quantity supplied increases, and Table 2 is the demand curve since as price increases the quantity sold decreases. eTextbook and Media (b) At a price of $128, approximately how many items would consumers purchase? items eTextbook and Media (c) At a price of $128, approximately how many items would manufacturers supply? items eTextbook and Media
(d) Will the market push prices higher or lower than $128? Since demand exceeds supply at a price of $128, the shift would be to a higher price. Since supply exceeds demand at a price of $128, the shift would be to a higher price. Since supply exceeds demand at a price of $128, the shift would be to a lower price. ° Since demand exceeds supply at a price of $128, the shift would be to a lower price. eTextbook and Media (e) Which of the following prices would lead to consumers buying at least 16 items? Select all that apply. °$180 °$153 $178 °$127 $146 °$129 eTextbook and Media (f) Which of the following prices would lead to manufacturers supplying at least 16 items. Select all that apply. $230 $66 $235 $7 $106 $315
Transcribed Image Text:(d) Will the market push prices higher or lower than $128? Since demand exceeds supply at a price of $128, the shift would be to a higher price. Since supply exceeds demand at a price of $128, the shift would be to a higher price. Since supply exceeds demand at a price of $128, the shift would be to a lower price. ° Since demand exceeds supply at a price of $128, the shift would be to a lower price. eTextbook and Media (e) Which of the following prices would lead to consumers buying at least 16 items? Select all that apply. °$180 °$153 $178 °$127 $146 °$129 eTextbook and Media (f) Which of the following prices would lead to manufacturers supplying at least 16 items. Select all that apply. $230 $66 $235 $7 $106 $315
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