Question
Question 1 Demand Problem Set Imagine that a company is interested in the pairs of pants a consumer will buy in the next 10 years.
Question 1
Demand Problem Set
Imagine that a company is interested in the pairs of pants a consumer will buy in the next 10 years. Assuming all things constant graph the following points based on the Demand schedule below:
Price | Qd | Points |
$200 | 200 | A |
$180 | 500 | B |
$160 | 800 | C |
$140 | 1,100 | D |
$120 | 1,400 | E |
$100 | 1,700 | F |
$80 | 2,000 | G |
A) Develop your demand curve. B) Plot all the points according to the graph. B) Label the X and Y axis accordingly.
Question 2
Supply Problem Set
Walmart is interested in analyzing how many of their used cellphones they will sell by next year. Assuming all things constant graph the following points based on the Supply schedule below:
Price | Qs | Points |
$1,400 | 3,200 | A |
$1,200 | 2,800 | B |
$1,000 | 2,400 | C |
$ 800 | 2,000 | D |
$ 600 | 1,600 | E |
$ 400 | 1,200 | F |
$ 200 | 800 | G |
A) Develop your supply curve. B) Plot all the points according to the graph. B) Label the X and Y axis accordingly.
Question 3
Demand and Supply Problem Set
Given the following conditions for the market of bubblegum based on the table below answer the following questions:
Price | Qd | Qs |
$1.60 | 9,000 | 5,000 |
$2.00 | 8,500 | 5,500 |
$2.40 | 8,000 | 6,400 |
$2.80 | 7,500 | 7,500 |
$3.20 | 7,000 | 9,000 |
$3.60 | 6,500 | 11,000 |
$4.00 | 6,000 | 15,000 |
A) Develop your demand and supply curve on the same graph. B) Label the X and Y axis accordingly. C) Find the price and quantity equilibrium.
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