Question
Simplest Possible Graph. Consider the following table of observations in the market for juice oranges: Year 1 2 3 Price $5 $7 $4 Quantity
Simplest Possible Graph. Consider the following table of observations in the market for juice oranges: Year 1 2 3 Price $5 $7 $4 Quantity 100 80 110 Demand is assumed to be stable over time. Use the line drawing tool to draw a supply line for each of the three years to generate the above equilibrium price-quantity combinations. Properly label these lines: S1, S2, and S3. Carefully follow the instructions above, and only draw the required objects. Price ($) 10- 9- 8- 7- 6- 5- 4- 3- 2- 1 0+ 50 Juice oranges Demand 60 60 70 80 90 100 110 Quantity of oranges 120 130
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Introduction to Operations Research
Authors: Frederick S. Hillier, Gerald J. Lieberman
10th edition
978-0072535105, 72535105, 978-1259162985
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