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please answer both a and b

please answer both a and b

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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please answer both a and b
FIGURE #1: Price (dollars per Price (dollars per ton of plywood) ton of plywood) D2 DI D D2 Quantity (tons of plywood per month) Figure A Quantity (tons of plywood per month) Figure B Price (dollars per ton of plywood) Price (dollars per ton of plywood) S2 S2 D Quantity (tons of plywood per month) Quantity (tons of plywood per month) Figure C Figure D TABLE #1: The following table shows different points on the linear supply and demand curves for electric automobiles: Quantity Supplied In Units 60 120 180 240 300 360 Price $0.00 $20,000.00 $40,000.00 $60,000.00 $80,000.00 $100,000.00 $120,000.00 Quantity Demanded 720 600 480 360 240 120 In Units
Transcribed Image Text:FIGURE #1: Price (dollars per Price (dollars per ton of plywood) ton of plywood) D2 DI D D2 Quantity (tons of plywood per month) Figure A Quantity (tons of plywood per month) Figure B Price (dollars per ton of plywood) Price (dollars per ton of plywood) S2 S2 D Quantity (tons of plywood per month) Quantity (tons of plywood per month) Figure C Figure D TABLE #1: The following table shows different points on the linear supply and demand curves for electric automobiles: Quantity Supplied In Units 60 120 180 240 300 360 Price $0.00 $20,000.00 $40,000.00 $60,000.00 $80,000.00 $100,000.00 $120,000.00 Quantity Demanded 720 600 480 360 240 120 In Units
USE TABLE #1: For the market for electric automobiles, the equilibrium price is $ and the equilibrium quantity is (Remember to use a comma, if a comma is needed and to include the decimal point and two numbers to the right of the decimal point). USE TABLE #1: If the price of electric automobiles dropped by 50% from the market price, the electric automobiles market would be faced with excess demand, or more specifically, a (type either surplus or shortage), which means quantity (type either demanded or supplied) is greater than the quantity (type either demanded or supplied). (Spell all words correctly, choosing the correct word to fit the box)
Transcribed Image Text:USE TABLE #1: For the market for electric automobiles, the equilibrium price is $ and the equilibrium quantity is (Remember to use a comma, if a comma is needed and to include the decimal point and two numbers to the right of the decimal point). USE TABLE #1: If the price of electric automobiles dropped by 50% from the market price, the electric automobiles market would be faced with excess demand, or more specifically, a (type either surplus or shortage), which means quantity (type either demanded or supplied) is greater than the quantity (type either demanded or supplied). (Spell all words correctly, choosing the correct word to fit the box)
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