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Question 5 (4 points) S1 S2 Price O Quantity Refer to the diagram. An increase in supply is depicted by a Ja move from point
Question 5 (4 points) S1 S2 Price O Quantity Refer to the diagram. An increase in supply is depicted by a Ja move from point y to point x. Ob shift from S2 to S1. O c Shift from S, to $2- O d move from point x to pointy. Question 6 (4 points) $5 A w Price (per bushel) N 2 6 8 10 12 14 16 18 20 Bushels of Corn (thousands per week) Refer to the above diagram illustrating the market for corn. If the price in this market is fixed (price floor) at $4 per bushel, then O a buyers will find too much corn in the market. Ob sellers will quickly run out of corn that they bring to market. O c buyers will be able to get as much corn as they wish to buy. O d sellers will not be able to sell all the corn that they intended to sell
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