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The following table describes the weekly market situation for unsweetened apple juice before and after the price of apples, an input, decreased. The original supply
The following table describes the weekly market situation for unsweetened apple juice before and after the price of apples, an input, decreased. The original supply is 51 and the new supply is 82. Price per Carton Supply Original New Supply {81} Demand {D1} [32) {0005} (0005} {0005] $3.50 14 6 18 3.00 12 8 16 2.50 10 10 14 2.00 8 12 12 1.50 6 14 10 1.} Using the point drawing toot, plot the original equilibrium point and label it 'E1'. 2.} Using the tine drawing toot, draw in the new supply curve and label it '32'. 3.} Using the point drawing toot, plot the new equilibrium point and label it 'E2'. Note: if you are not prompted for a tahei, then you have used the wrong drawing foot. :3 According to the graph, an increase in supply will cause the equilibrium mice to decrease and the equilibrium quantity to increase Suppose a market consists of 10 buyers, each of whom is assumed to have the identical demand schedule given by: Price Quantity Point ($ per unit) Demanded $5 5 $4 10 MOOOR $3 15 $2 20 $1 25 1.) On the graph to the right, plot the five points (using the point drawing tool) representing the market demand at each price. Properly label each point. 2.) Then connect the points (using the line drawing tool) to create the market demand curve. Label the line 'Demand'. Note: if you are not prompted for a label, then you have used the wrong drawing tool.Refer to the graph of the market for French fries, displayed to the right, to answer the following. Event: Number of firms supplying fries increases Using the line drawing tool, show how the event above will affect the supply curve in the French fry market. Label line 'S2' S 4- Note: if you are not prompted for a label, then you have used the wrong drawing tool. Price per Serving 2- 1- 0 # Servings of Fries (thousands per day)
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