Was this a result of a change in supply or quantity supply? Was this change an increase or a decrease? As a result, did the equilibrium price increase or decrease? As a result, did the equilibrium quantity increase or decrease?
Was this a result of a change in supply or quantity supply? Was this change an increase or a decrease? As a result, did the equilibrium price increase or decrease? As a result, did the equilibrium quantity increase or decrease?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Not a grade. This is all ONE QUESTION
(You don't have to do this I already have the graph) Label the new equilibrium E1.
What is the new
4
What is the new
250
Was this a result of a change in supply or quantity supply?
Was this change an increase or a decrease?
As a result, did the equilibrium price increase or decrease?
As a result, did the equilibrium quantity increase or decrease?
Transcribed Image Text:Copy the supply and demand graph onto your notes. Then, using the data in the chart, draw a new supply curve on the graph.
PRICE
$8-
SSS CASA
$7-
$6
$5-
$4-
$3-
$0
Price
$3
$4
456
$5
$6
$7
100
CUPS OF COFFEE
150
Quantity
200
250
300
350
400
200
QUANTITY
250
S
D
300
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