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Let us take another look at the supply and demand of widgets as outlined in our previous Assignment No. 3: N ] Quantity Demanded (QD)
Let us take another look at the supply and demand of widgets as outlined in our previous Assignment No. 3: N ] Quantity Demanded (QD) Quantity Supplied (QS) $30.00 0 40 $27.00 4 36 $24.00 8 32 $21.00 12 28 $18.00 16 24 515.00 20 20 512.00 24 16 $9.00 28 12 $6.00 32 8 $3.00 36 50.00 40 0 A- Use Excel charts to show how the supply and demand curves would shift if the sellers would all of a sudden be willing to sell 4 additional units (beyond what the above table suggests) at any given price, and at the same time that the buyers would reduce the amount that they would be willing to buy at any given price by 4 units. Make sure that your chart shows both the original and the new supply and demand curves. Also make sure that your diagram shows both the original and the new equilibrium price and guanfity after these changes in supply and demand. B- What might have caused the changes in supply and demand outlined in part A? Write a short essay that outlines the various reasons (i) why demand might possibly decrease in this manner and also (ii) why supply might increase this way. Your essay should answer should be tied to your excel chart from part A that shows the shifts of the supply and demand curves
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