GRAPHING THE DEMAND AND SUPPLY Instruction: Plot the demand and supply curve using a graphing paper....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
GRAPHING THE DEMAND AND SUPPLY Instruction: Plot the demand and supply curve using a graphing paper. Scenario: You are a BSBA student enrolled in an event management class this first semester. Your class is assigned to organize a concert in order raise funds to support the construction of a new building at SLSU-TO. Your class targeted the student population of the Campus, suppose that the price of concert tickets is determined by market forces. Currently, the demand and supply schedules are as follows: ITT Price per Ticket Quantity Demanded Quantity Supplied for Tickets (S1) for Tickets (D1) 450 50.00 200 75.00 400 250 100.00 350 350 125.00 300 400 150.00 200 450 175.00 150 550 Directions: Plot the demand and supply schedule and draw the demand and supply curves. Use the Y Axis for Price. From 0 to 200.00, Divisible of P25.00 Use the X Axis for Quantity. From 0 to 900 Divisible of 50 Questions: 1. What Quantity demanded at a particular price (as shown in the graph) that will render the condition a shortage? Provide all possible answers. 2. What Quantity supplied at a particular price (as shown in the graph) that will render the condition a surplus? Provide all possible answers. 3. What are the equilibrium price and quantity of tickets? 4. SLSU-TO Campus plans to increase its enrollment next year by 100 students. The additional students will have the following demand (D2) schedule for next year: Price per Ticket 50,00 Quantity Demanded for Tickets (D2) Quantity Supplied for Tickets (S2) 750 250 75.00 650 350 100.00 500 500 125.00 400 550 150.00 300 650 175.00 250 700 4.1 Plot the new demand schedule and draw the new demand curve using the same graph. 4.2 What are the new equilibrium price and quantity of boxes of toys? REFLECTION: In a separate sheet of Paper, write a minimum of 2 Paragraph PERSONAL REFLECTION/LEARNING on this activity. What lesson/personal insights/relatable experience you have learned or captured from the activity. Do Not copy/paste from the internet, I can easily detect those. GRAPHING THE DEMAND AND SUPPLY Instruction: Plot the demand and supply curve using a graphing paper. Scenario: You are a BSBA student enrolled in an event management class this first semester. Your class is assigned to organize a concert in order raise funds to support the construction of a new building at SLSU-TO. Your class targeted the student population of the Campus, suppose that the price of concert tickets is determined by market forces. Currently, the demand and supply schedules are as follows: ITT Price per Ticket Quantity Demanded Quantity Supplied for Tickets (S1) for Tickets (D1) 450 50.00 200 75.00 400 250 100.00 350 350 125.00 300 400 150.00 200 450 175.00 150 550 Directions: Plot the demand and supply schedule and draw the demand and supply curves. Use the Y Axis for Price. From 0 to 200.00, Divisible of P25.00 Use the X Axis for Quantity. From 0 to 900 Divisible of 50 Questions: 1. What Quantity demanded at a particular price (as shown in the graph) that will render the condition a shortage? Provide all possible answers. 2. What Quantity supplied at a particular price (as shown in the graph) that will render the condition a surplus? Provide all possible answers. 3. What are the equilibrium price and quantity of tickets? 4. SLSU-TO Campus plans to increase its enrollment next year by 100 students. The additional students will have the following demand (D2) schedule for next year: Price per Ticket 50,00 Quantity Demanded for Tickets (D2) Quantity Supplied for Tickets (S2) 750 250 75.00 650 350 100.00 500 500 125.00 400 550 150.00 300 650 175.00 250 700 4.1 Plot the new demand schedule and draw the new demand curve using the same graph. 4.2 What are the new equilibrium price and quantity of boxes of toys? REFLECTION: In a separate sheet of Paper, write a minimum of 2 Paragraph PERSONAL REFLECTION/LEARNING on this activity. What lesson/personal insights/relatable experience you have learned or captured from the activity. Do Not copy/paste from the internet, I can easily detect those.
Expert Answer:
Answer rating: 100% (QA)
1The condition of shortage of demand is occures in two ... View the full answer
Posted Date:
Students also viewed these economics questions
-
What is the equilibrium price for the demand and supply conditions described in Problems 1 and 2? How much corn is bought and sold? What if the price of diesel fuel increases to $4.50 per gallon?...
-
The diagram below shows the demand and supply for hamburgers on your college campus. a. Suppose your college announces a new plan to improve student life: Any time you buy a hamburger anywhere on...
-
The following figure shows the demand and supply of television sets in a city. Since TVs are considered normal goods, demand increases from D1 to D2 in response to an increase in the income level. a....
-
Advertising plays a major role in the ______________ stage of the product life cycle, and_______________ plays a major role in the maturity stage.
-
Prescott, Inc. manufactures bookcases and uses an activity-based costing system. Prescotts activity areas and related data follow: Prescott produced two styles of bookcases in October: the standard...
-
Consider a distribution that at the initial time t = 0 has the form of a Dirac delta function (x). A delta function can he represented by a Fourier integral: At later times the pulse becomes or by...
-
While designing a mixer-settler extraction system, you obtain a mass transfer correlation from a book. Unfortunately, the book does not explain which model was used. Which model would you use to...
-
Lid Corporation produces a line of beverage lids. The production process has been automated, so the product can now be produced in one operation rather than in the three operations that were needed...
-
The accompanying table shows two samples that were collected as matched pairs. Complete parts (a) through (d) below. Click the icon to view the data table. a. State the null and alternative...
-
Haverhill Engineers Ltd manufactures components for the car industry. It is considering automating its line for producing crankshaft bearings. The automated equipment will cost 700,000. It will...
-
a b The mean preparation fee H&R Block charged retail customers in 2012 was $273 (The Wall Street Journal). Use this price as the population mean and assume the population standard deviation of...
-
The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 656,000 Direct labor cost $ 83,000 Raw material purchases $ 132,000 Selling expenses $...
-
Callie is the 11-year-old dependent of the Sanders. This year, Callie filed a Form 1040 on which the only item of gross income was $10,557 interest from an investment bond portfolio that Callie...
-
The structure of a firm using this production technology is often tall and thin, or even an inverted pyramid. You decide to group employees based on what they know. What basis of grouping employees...
-
Which aspect of environment law makes it uniquely hard to sue for environmental harm? 1. It is often hard to find a plaintiff willing to sue for environmental damage 2. It is uncommon for entities to...
-
From your dataset calculate return on assets (ROA) for each year, with a trend analysis, and comment on the firm performance. Also use graph to explain (ROA). From your dataset calculate return on...
-
Note: you must use the instrument readings to calculate Reduced Levels, as you have done for the levelling run, (Task 1.3). 1. Sum BS column and sum FS column. Calculate misclose. 2. Calculate Rises...
-
A Bloomberg Businessweek subscriber study asked, In the past 12 months, when traveling for business, what type of airline ticket did you purchase most often? A second question asked if the type of...
-
Create a statement of cash flow for the Arrow Company for the years ended December 31, 2014 and December 31, 2015 from the balance sheets and income statement created in problem P1.32 from Chapter 1....
-
Recent financial statements for The Hoechst Group, a German conglomerate with operations in agriculture, chemicals, pharmaceuticals, and veterinary products are pre- ver sented as follows: The...
-
The 2015 annual report of The Procter & Gamble Company (P&G) is available at www.pginvestor.com. After reviewing P&Gs annual report, respond to the following questions: a. P&Gs 2015 statement of cash...
Study smarter with the SolutionInn App