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At the market price of $8, the quantity demanded is units, and quantity supplied is units. 12- 11 At this price, exists. 10 At a market price of $4, now exists. 9- The market equilibrium exists at a price of S Price ($) In equilibrium, the quantity demanded by consumers is to the quantity supplied by producers. 10 20 30 40 50 60 70 80 Quantity (per week)The following table gives the supply schedule for an single firm's monthly supply of shirts. 507 Quantity Supplied 45- Price 40- $5 $10 $15 $20 11 Price of shirts 25 Assume there are 10 identical firms in the market. 20- Using the multipoint curve drawing tool, draw the market supply curve, and label it. Carefully follow the instructions above, and only draw the required object. 40 50 60 70 80 90 100 110 120 130 140 Quantity of shirts After plotting the final point of your multipoint curve, press the Esc key on your keyboard to and the lineThe following table indicates the supply schedules for four types of producers: A, B, C, and D and the number of producers in each group (top row). The quantity supplied by each type of producer (QA, Qs, Qc, and QD) is shown for market prices ranging from $8 down to $2. What is the combined quantity supplied at a market price of $7? Number of producers A = 50 B = 60 C = 30 D = 20 Market Price QA QB Qc QD 58 14 13 12 10 ANWAWON ONWAUG NWAGON O A. 1,360 O B. 34 O C. 9,590 O D. 1,370The graph indicates the market equilibrium for paperback novels. 30- Suppose that consumer tastes for paperback novels 28- become more favorable. At the same time a new 26- technology has been adopted in the industry that S 24- improves the production of paperback novels. 22- 20- 1.) Using the line drawing tool, draw a new demand curve that is parallel to Do for paperback novels that 18- indicates a $2 equilibrium price increase. Label this Price (per novel) D1. 14- 12 2.) Using the line drawing tool, draw a new supply 10 curve that is parallel to S, for paperback novels that returns the equilibrium price to $14. Label this S. D Carefully follow the instructions above, and only draw the required objects. 0 4 6 8 10 12 14 16 18 20 22 24 2 Quantity (novel)Consider the table below: Demand and Supply Schedule for Pizza Price ($) Quantity Demanded Quantity Supplied 14 130 190 12 140 170 10 150 150 160 130 6 170 110 180 90 The equilibrium price for pizza is $ and the equilibrium quantity is pizzas. (Enter your responses a5 whole numbers.) Now, suppose that the demand increases such that the quantity demanded increases by 60 more pizzas at every price. Calculate the new equilibrium price $ and the new equilibrium quantity pizzas. (Enter your responses as whole numbers.)The following table indicates the demand schedules for four types of consumers: A, B, C, and D and the number of consumers in each group (top row). The quantity demanded by each type of consumer (QA, QB, QC, and Qo) is shown for market prices ranging from $10 down to $4. What is the combined quantity demanded at a market price of $5? Number of Consumers A = 200 B = 300 C = 300 D = 200 Market Price QA QB Qc QD $10 11 15 11 20 O A. 25,000 O B. 415,000 O C. 8,500 O D. 8,300Suppose that in a recent market period, an industry-wide survey determined the following relationship between the price of rap music CDs and 12- the quantity supplied and quantity demanded. 11- 10- Quantity Demanded Quantity Price of rap music CDs Supplied of rap music CDs $3 100 million 40 million $4 90 million 60 million Price $5 80 million 80 million w h ing g $6 70 million 100 million $7 60 million 120 million 1.) Using the multipoint curve drawing tool, draw and label the demand curve for rap music CDs. 2.) Using the multipoint curve drawing tool, draw and label the supply curve for rap music CDs. 20 40 60 80 100 121 3.) Using the point drawing tool, plot the equilibrium Quantity (millions) point for rap music CDs. Label it 'E'. After plotting the final point of your Carefully follow the instructions above, and only draw multipoint curve, press the Esc key on your the required objects. keyboard to end the line.There are three producers of ham in Corpus Christi. The table below depicts the willingness and ability of Han Ham Supply each producer to provide finished products to the 40 market. 35- Quantity Supplied Price Han Ham Park Porkers Ham Hocks 30- $5 6 25- $10 $15 6 11 Price/lb 20 $20 8 14 $25 10 17 15- Using the multipoint curve drawing tool, draw 10- Han Ham's supply curve. Label this line 'Sarm" 5- Carefully follow the instructions above, and only draw the required object. 12 16 What is the quantity supplied in the market for ham Pounds of ham when the price is $5 per pound? After plotting the final point of your OA. 6 OB. 8 OC. 12 OD. 2 multipoint curve, press the Esc key on your keyboard to end the line. What is the quantity supplied in the market for ham when the price is $20 per pound? OA. 8 OB. 26 O C. 30 OD. 14Consider the table below: Demand and Supply Schedule for Pizza Price ($) Quantity Demanded Quantity Supplied 14 130 190 12 140 170 10 150 150 8 160 130 6 170 110 4 180 90 The equilibrium price for pizza is $ and the equilibrium quantity is pizzas. (Enter your responses as whole numbers.) Now, suppose that the supply increases such that the quantity supplied increases by 60 more pizzas at every price. The new equilibrium price is $ and the new equilibrium quantity pizzas. (Enter your responses as whole numbers.)Consider the market for tennis balls shown at right. Market for Tennis Balls Consider the effect of the following two events on the market: i. An increase in the cost of labor S Wi. A decrease in the price of a tennis racquets 1.) Using the line drawing tool, draw new supply and demand lines, making sure to properly label the lines. A 2.) Using the point drawing tool, indicate the new Market Price equilibrium quantity and price and label this "B'. Carefully follow the instructions above, and only draw the required objects. D QuantityThe graph on the right shows the demand for automobiles. Suppose that there is a decrease in the price that people expect to pay for cars next year. Using the line drawing tool, show the effect on the current demand curve. Label it 'D2'- Carefully follow the instructions above, and only draw the required objects. Price of automobiles, D Quantity of automobiles