Suppose the price of cotton (a production input for t-shirts) falls, which causes the quantity of COC t-shirts supplied to increase by 600 units at EVERY price. (Remember, when price of an input decreases, this makes it cheaper to produce the good.) The demanc and supply schedules for COC t-shirts are now as follows: Table 2-3: Demand & Supply Schedules for COC t-shirts Price ($) Quantity Demanded per Year Quantity Supplied per Year 10 2000 800 (-200+600) 20 1600 1000 (-400+600) 30 1200 1200 (-600+600) 40 800 1400 (-800+600) 50 400 1600 (-1000+600) 60 1800 (-1200+600) Refer to Table 2-3 above. The change described above represents a | Select) to the [ Select )
Suppose the price of cotton (a production input for t-shirts) falls, which causes the quantity of COC t-shirts supplied to increase by 600 units at EVERY price. (Remember, when price of an input decreases, this makes it cheaper to produce the good.) The demanc and supply schedules for COC t-shirts are now as follows: Table 2-3: Demand & Supply Schedules for COC t-shirts Price ($) Quantity Demanded per Year Quantity Supplied per Year 10 2000 800 (-200+600) 20 1600 1000 (-400+600) 30 1200 1200 (-600+600) 40 800 1400 (-800+600) 50 400 1600 (-1000+600) 60 1800 (-1200+600) Refer to Table 2-3 above. The change described above represents a | Select) to the [ Select )
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 1WNG
Related questions
Question
1) movement / shift
2) left/right
![Suppose the price of cotton (a production input for t-shirts) falls, which causes the quantity of COC t-shirts supplied to increase by
600 units at EVERY price. (Remember, when price of an input decreases, this makes it cheaper to produce the good.) The demand
and supply schedules for COC t-shirts are now as follows:
Table 2-3: Demand & Supply Schedules for COC t-shirts
Price ($)
Quantity Demanded per Year
Quantity Supplied per Year
10
2000
800 (=200+600)
20
1600
1000 (=400+600)
30
1200
1200 (=600+600)
40
800
1400 (=800+600)
50
400
1600 (=1000+600)
60
1800 (=1200+600)
Refer to Table 2-3 above. The change described above represents a (Select)
to the
[ Select ]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fde2bc768-4f62-4517-bed1-58f3ec52f991%2F0eafe20a-dc72-494d-8a2b-468e1813d1e4%2Fug9ngi7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose the price of cotton (a production input for t-shirts) falls, which causes the quantity of COC t-shirts supplied to increase by
600 units at EVERY price. (Remember, when price of an input decreases, this makes it cheaper to produce the good.) The demand
and supply schedules for COC t-shirts are now as follows:
Table 2-3: Demand & Supply Schedules for COC t-shirts
Price ($)
Quantity Demanded per Year
Quantity Supplied per Year
10
2000
800 (=200+600)
20
1600
1000 (=400+600)
30
1200
1200 (=600+600)
40
800
1400 (=800+600)
50
400
1600 (=1000+600)
60
1800 (=1200+600)
Refer to Table 2-3 above. The change described above represents a (Select)
to the
[ Select ]
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