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billyhilly billyhilly
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4 years ago

Question 1.

Use the following supply schedule for cherries to draw a graph of the supply curve. Be sure to label the supply curve and each axis, and show each point on the supply curve.


Price (dollars per bushel)Quantity (thousands of bushels)
           4                      25
           8                      50
          12                      75
          16                    100
          20                    125


Question 2.

Let D= demand, S = supply, P = equilibrium price, and Q= equilibrium quantity. What happens in the market for walnuts if the Centers for Disease Control and Prevention announces that consuming a half cup of walnuts each week helps to lower levels of bad cholesterol?

▸

S increases, D no change, P decreases, Q increases



▸

D and S increase, P and Q decrease



▸

D no change, S increases, P decreases, Q decreases



▸

D increases, S no change, P and Q increase

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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jackjohnson74jackjohnson74
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4 years ago
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billyhilly Author
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#2
4 years ago
This helped my grade so much
wrote...
#3
4 years ago
Perfect
wrote...
#4
4 years ago
thank you
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