The demand and supply schedules for pizza on a typical weekend night in Cape Girardeau are given in the table below. Suppose that on home football weekends the demand for pizzas increase by 200 at every price. In anticipation of the increased demand, pizza parlor owners each hire 3 more workers and increase the supply of pizzas by 350 at every price. The new equilibrium price of pizzas is and the new equilibrium quantity of pizzas is ----- Quantity Quantity Quantity supplied demanded demanded Price 950 $6 1100 1000 $7 1000 1050 $8 900 1100 $9 800 1200 $10 700 1250 $11 600 1300 $12 500

The demand and supply schedules for pizza on a typical weekend night in Cape Girardeau are given in the table below. Suppose that on home football weekends the demand for pizzas increase by 200 at every price. In anticipation of the increased demand, pizza parlor owners each hire 3 more workers and increase the supply of pizzas by 350 at every price. The new equilibrium price of pizzas is and the new equilibrium quantity of pizzas is ----- Quantity Quantity Quantity supplied demanded demanded Price 950 $6 1100 1000 $7 1000 1050 $8 900 1100 $9 800 1200 $10 700 1250 $11 600 1300 $12 500

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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