The following companies and scenarios are fictional. In each case, you are to demonstrate graphically the...
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The following companies and scenarios are fictional. In each case, you are to demonstrate graphically the change in the model and then provide a hypothetical explanation of what happened. You can use Word to draw directly on the diagram. Or it is perfectly acceptable to photograph the graphical response and replace the existing one with your own. Whatever is easier for you. Your explanation must be typed though. Example - Capn' Mark's Seafood price is falling even while sales are growing. New Price $ Qº po New Quantity Explanation here Supply Capn' Marks Seafood has developed a new technology that allows it to "grow" seafood chunks using genetic engineering. This new technology means Capn' Marks can supply fast food restaurants with seafood patties at half the price of its competitors. The result is a 40% increase in sales. Question 1- Becky's Bongos sales are falling even while they continue to decrease price. Demand Qty * Qº New Supply Qty Supply Demand The following companies and scenarios are fictional. In each case, you are to demonstrate graphically the change in the model and then provide a hypothetical explanation of what happened. You can use Word to draw directly on the diagram. Or it is perfectly acceptable to photograph the graphical response and replace the existing one with your own. Whatever is easier for you. Your explanation must be typed though. Example - Capn' Mark's Seafood price is falling even while sales are growing. New Price $ Qº po New Quantity Explanation here Supply Capn' Marks Seafood has developed a new technology that allows it to "grow" seafood chunks using genetic engineering. This new technology means Capn' Marks can supply fast food restaurants with seafood patties at half the price of its competitors. The result is a 40% increase in sales. Question 1- Becky's Bongos sales are falling even while they continue to decrease price. Demand Qty * Qº New Supply Qty Supply Demand
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