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Q S₁ $2 7- In the figure to the right, what are the effects of a price increase from $4 per wireless earbud to $7 per wireless earbud on the quantities supplied by Supplier 1 and by Supplier 2 individually and combined? 1.) Using the line drawing tool, draw the market supply curve for the two suppliers. Label this line 'S.' 2.) Using the point drawing tool, indicate on Supplier 1's supply curve, S₁, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A₁." 3.) Using the point drawing tool, indicate on Supplier 2's supply curve, S2, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A2' 4.) Using the point drawing tool, indicate on the market supply curve for the two sellers, S, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A.' Carefully follow the instructions above, and only draw the required objects. Price per Wireless Earbud ($) 8- 2- 1- 0+ 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Wireless Earbuds per Year (thousands)

Q S₁ $2 7- In the figure to the right, what are the effects of a price increase from $4 per wireless earbud to $7 per wireless earbud on the quantities supplied by Supplier 1 and by Supplier 2 individually and combined? 1.) Using the line drawing tool, draw the market supply curve for the two suppliers. Label this line 'S.' 2.) Using the point drawing tool, indicate on Supplier 1's supply curve, S₁, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A₁." 3.) Using the point drawing tool, indicate on Supplier 2's supply curve, S2, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A2' 4.) Using the point drawing tool, indicate on the market supply curve for the two sellers, S, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A.' Carefully follow the instructions above, and only draw the required objects. Price per Wireless Earbud ($) 8- 2- 1- 0+ 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Wireless Earbuds per Year (thousands)

MACROECONOMICS
MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter4: Supply And Demand: An Initial Look
Section: Chapter Questions
Problem 1DQ
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Q S₁ $2 7- In the figure to the right, what are the effects of a price increase from $4 per wireless earbud to $7 per wireless earbud on the quantities supplied by Supplier 1 and by Supplier 2 individually and combined? 1.) Using the line drawing tool, draw the market supply curve for the two suppliers. Label this line 'S.' 2.) Using the point drawing tool, indicate on Supplier 1's supply curve, S₁, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A₁." 3.) Using the point drawing tool, indicate on Supplier 2's supply curve, S2, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A2' 4.) Using the point drawing tool, indicate on the market supply curve for the two sellers, S, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A.' Carefully follow the instructions above, and only draw the required objects. Price per Wireless Earbud ($) 8- 2- 1- 0+ 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Wireless Earbuds per Year (thousands)
Transcribed Image Text:Q S₁ $2 7- In the figure to the right, what are the effects of a price increase from $4 per wireless earbud to $7 per wireless earbud on the quantities supplied by Supplier 1 and by Supplier 2 individually and combined? 1.) Using the line drawing tool, draw the market supply curve for the two suppliers. Label this line 'S.' 2.) Using the point drawing tool, indicate on Supplier 1's supply curve, S₁, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A₁." 3.) Using the point drawing tool, indicate on Supplier 2's supply curve, S2, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A2' 4.) Using the point drawing tool, indicate on the market supply curve for the two sellers, S, the quantity supplied when the price is $4 per wireless earbud. Label this point 'A.' Carefully follow the instructions above, and only draw the required objects. Price per Wireless Earbud ($) 8- 2- 1- 0+ 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Wireless Earbuds per Year (thousands)
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