Then indicate on your graph how a change in taste for the

Reference no: EM13480494

For all questions complete this part first. Draw a demand and supply graph. Be sure to label the vertical Y axes as price and the horizontal X axes as quantity. Draw your demand and supply curves and label them D1 and S1 accordingly. Then indicate the equilibrium point on the graph and label it E1 draw a dashed line from the equilibrium point over to the price axes and label the point P1 draw another dashed line to the quantity axes and label it Q1.

1.Then indicate on your graph how a change in taste for the good will shift the curves or curve, and label the new equilibrium point. Label any new demand or supply curves you may have to draw as D2 and S2. Label any new equilibrium point you may have to draw as E2. Also draw any new dashed lines that you may have to draw to the price and quantity axes and label them as P2 and Q2.

2. Now draw a brand new graph. Once you have done this on this graph indicate how an increase in resource price would or would not shift one or more of the curves. Label any new demand or supply curves you may have to draw as D2 and S2. Label any new equilibrium point you may have to draw as E2 also draw any new dashed lines that you may have to draw to the price and quantity axes and label them as P2 and Q2.

3. Draw a brand new graph. On this graph indicate how a decrease in the price of a substitute good will or will not shift the curves and cause a new equilibrium point. Label any new demand or supply curves you may have to draw as D2 and S2 label any new equilibrium point you may have to draw as E2 also draw any new dashed lines that you may have to draw to the price and quantity axes and label them as P2 and Q2.

4. Draw a brand new graph. On this graph indicate how an increase in subsidies given will or will not change the graph. Label any new demand or supply curves you may have to draw as D2 and S2 label any new equilibrium point you may have to draw as E2 also draw any new dashed lines that you may have to draw to the price and quantity axes and label them as P2 and Q2.

5. Draw a brand new graph. On this graph indicate how an increase in the number of buyers with a simultaneous decrease in resource price will or will not change the graph. Label any new demand or supply curves you may have to draw as D2 and S2 label any new equilibrium point you may have to draw as E2 also draw any new dashed lines that you may have to draw to the price and quantity axes and label them as P2 and Q2.

6. Draw a brand new graph. On this graph indicate how a decrease in consumer price any new demand or supply curves you may have to draw as D2 and S2 label any new equilibrium point you may have to draw as E2 also draw any new dashed lines that you may have to draw to the price and quantity axes and label them as P2 and Q2.

7. Draw a brand new graph. On this graph indicate how a decrease in the price of a complementary good with a simultaneous decrease in the number of sellers will or will not change the graph. Label any new demand or supply curves you may have to draw as D2 and S2 label any new equilibrium point you may have to draw as E2 and also draw any new dashed lines that you may have to draw to the price and quantity axes and label them as P2 andQ2.

8. Draw a brand new graph. On this graph indicate how a decrease in the price of a substitute good with a simultaneous increase in taxes will or will not change the graph. Label any new demand or supply curves you may have to draw as D2 and S2 label any new equilibrium point you may have to draw as E2 and also draw any new dashed lines that you may have to draw to the price and quantity axes and label them as P2 and Q2. For all eight graphs, you are to state which if any of the curves shifted either demand or supply or both you are to state in which direction they shifted either out to the right or in to the left. You are also to state what happened to both equilibrium price and quantity. That is did equilibrium price increase or decrease or was it indeterminate? Did equilibrium quantity increase or decrease or was it indeterminist?

Reference no: EM13480494

Questions Cloud

Explain how the efficient market hypothesis emh depicts the : explain how the efficient market hypothesis emh depicts the reaction of market prices to financial and other

Varilux manufactures a single product and sells it for 10 : absorption vs. variable costingvarilux manufactures a single product and sells it for 10 per unit. at the beginning of

Explain the claim while we theoretically use the effective : explain the claim while we theoretically use the effective interest rate to compute a bonds present value in practice

Again no other financing will be necessary apart from this : xyzs revenues this past year were 250000 and total costs were 150000 and both costs and revenues have been expected to

Then indicate on your graph how a change in taste for the : for all questions complete this part first. draw a demand and supply graph. be sure to label the vertical y axes as

Show the effects of the above transactions in a horizontal : the following transactions apply to baker co. for 2010 its first year of operations. 1.issued 160000 of common

Rent and other fixed expenses are 1750 per month assume : martha has asked you to evaluate her business marthas tattoo salon. martha has five tattoo artists working for her.

The risk free rate is 4 and the expected return on the : the risk free rate is 4 and the expected return on the market portfolio is 12. please use the capm to answer the

Please answer true or false to each of the following : please answer true or false to each of the following statements and briefly justify your answer.a the capm predicts

User Account

All Pages