Question
In March a store sells 20 bags of charcoal a week for $12 each. In April a promotion is offered causing 30 bags to be
In March a store sells 20 bags of charcoal a week for $12 each. In April a promotion is offered causing 30 bags to be sold at $10 each.
1. What happened to Supply? Did we have an increase/decrease in supply or quantity supplied?
2. How are you sure?
3. What happened to Demand? Did we have an increase/decrease in demand or quantity demanded?
4. How are you sure?
In May and June sales return to 20 bags for $10 each. In July the month starts with a blistering heat wave and 30 bags are sold for $12 each.
5. What happened to Supply in July? Did we have an increase/decrease in supply or quantity supplied?
6. How are you sure?
7. What happened to Demand in July? Did we have an increase/decrease in demand or quantity demanded?
8. How are you sure?
In August the charcoal company is inspected and many violations are found. After this 15 bags are sold for $15 each.
9. What happened to Supply? Did we have an increase/decrease in supply or quantity supplied?
10.How are you sure?
11.What happened to Demand? Did we have an increase/decrease in demand or quantity demanded?
12.How are you sure?
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