Q.No.1. Make up an example of a monthly supply schedule for pizza, and graph

the implied supply curve. Give an example of something that would shift this supply curve,

and briefly explain your reasoning. Would a change in the price of pizza shift this supply curve

Q.No.2. Suppose the Government of Pakistan makes it compulsory for Farmers to use a new seed for Wheat that doubles their output (productivity) of wheat.Should farmers be happy about this new seed and use it?Should consumers of wheat (society as a whole) be happy about this new seed?Explain using the relationship between revenue and elasticity of demand

Q.No.g. On a separate diagram, show what happens to the market for pizza if the price of soft drinks falls.