AB 204 STUDY Successful Learning / ab204study.com AB 204 STUDY Successful Learning / ab204study.com | Page 3

Let us assume two students must prepare a presentation for their
marketing class. As part of their class presentation, they must do a
series of calculations and prepare 50 PowerPoint slides. It would
take Larry 10 hours to do the required calculation and 10 hours to
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.