AB 204 Unit 3 Assignment Supply and Demand Model and PPF
prepare the slides. It would take Kate 12 hours to do the series of the calculations and 20 hours to prepare the PPT slides.
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AB 204 Unit 3 Assignment Supply and Demand Model and PPF
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1) The table below indicates the total quantity supplied and demanded of flashlights at different price levels.
Draw Supply and Demand Curves. What are the equilibrium price and the equilibrium quantity?
Suppose the market price is $ 5. What problem would exist in the market? Does it lead to surplus or shortage? How do you expect this problem will affect the price? Indicate this on the supply and demand graphs.
Assume the market price is currently $ 2. What problem would occur in the market due to this price? Will it be shortage or surplus? What will its effect on the price? Indicate this on the supply and demand graph.