(Solved): Please Use The Graphs Labled A-D To Help Answer Question Number 3 In Identifying If Each Scenario I ...
please use the graphs labled A-D to help answer question
number 3 in identifying if each scenario is a demand increase,
demand decrease, supply increase, or a supply decrease. Also can
you please make sure that my compliments and subsitutes are labeled
correctly.
Thank You ??
A. Demand Increase B. Supply increase pe' price price pe Pe pe't ge' qe quantity qe quantity qe C. Demand Decrease D. Supply Decrease pe price price per pes Qed' qe' quantity gel quantity
3. Give an example of each of the following & identify which of the cases, A, B, C or D above your example refers to. 1 additional point will be awarded for original work reflecting current trends in the real world. (current does not need to be cutting edge) The price of a (A) a complement in production rises on the (G) market (6) phone (A) charger The price of a (R) resource rises on the (G) market that uses the resource (R) Tortilla (G) Burrito The price of a (R) resource falls on the market that uses the resource (must be a different resource from previous case) (R) Lemons (G) Lemonade The price of a (S) substitute good rises on the (G) market (s) pears (G) Fruit The price of a (SP) substitute in production rises on the (G) market (SP) Pepsi (G) Soda The price of a (C) complement on the (G) market (c) Popcorn (6) Movie
Expert Answer
Answer 3. a. Graph- C When price of complement (charger ) rises, demand in phone market falls. b. Graph- D. When price of resource (tortilla) rises, cost of p