Download Demand and Supply Problems Part II

Demand and Supply Worksheet
Part II
Answer the questions, respond to the statement, respond to the commands by using
the referenced readings and Help Sheets referenced.
46. What kind of a graphical relationship does a supply curve represent? (See Practical
#4 Help Sheet)
47. In 2005 the price of a good was $10.00 and the quantity supplied was 30 units. In
2010, the price of the good was $12.00 and the quantity supplied was 25 units. Does this
good violate the law of supply since the quantity supplied of the good did not increase as
its price increased? (See Demand and Supply supplementary reading)
48. Why is a supply curve valid only in a specified time period? (See Practical #8 Help
Sheet)
49. Demonstrate a change in quantity supplied. (See Demand and Supply supplementary
reading)
50. What causes a change in quantity supplied? (See Demand and Supply supplementary
reading)
51. Demonstrate a change in supply. (See Demand and Supply supplementary reading)
52. What are the six factors that cause a change in supply? (See Demand and Supply
supplementary reading)
53. Demonstrate the affect that an increase in resource prices has on the supply of a
good. (See Demand and Supply supplementary reading)
54. Demonstrate the affect that a decrease in resource prices has on the supply of a good.
(See Demand and Supply supplementary reading)
55. Demonstrate the affect that an increase in the price of a related good has on the
supply of the other related good. (See Demand and Supply supplementary reading)
56. Demonstrate the affect that a decrease in the price of a related good has on the
supply of the other related good. (See Demand and Supply supplementary reading)
57. Demonstrate the affect that expectations of higher resource prices or a higher price
for a related good has on the supply of a good. (See Demand and Supply supplementary
reading)
2
58. Demonstrate the affect that expectations of lower resource prices or a lower price for
a related good has on the supply of a good. (See Demand and Supply supplementary
reading)
59. Demonstrate the affect that an improvement in technology has on the supply of a
good. (See Demand and Supply supplementary reading)
60. Demonstrate the affect that a decline in technology has on the supply of a good. (See
Demand and Supply supplementary reading)
61. Demonstrate the affect that an increase in the number of sellers has on the supply of
a good. (See Demand and Supply supplementary reading)
62. Demonstrate the affect that a decrease in the number of sellers has on the supply of a
good. (See Demand and Supply supplementary reading)
63. Demonstrate the affect that good weather may have on the supply of agricultural
goods. (See Demand and Supply supplementary reading)
64. Demonstrate the affect that bad weather may have on the supply of agricultural
goods. (See Demand and Supply supplementary reading)
65. Demonstrate the affect that a per unit tax on supply has on the equilibrium price and
quantity of a good. (See Demand and Supply supplementary reading)
66. Demonstrate the affect that a per unit tax on demand has on the equilibrium price and
quantity of a good. (See Demand and Supply supplementary reading)
67. Demonstrate the affect that a per unit subsidy to supply has on the equilibrium price
and quantity of a good. (See Demand and Supply supplementary reading)
68. Demonstrate the affect that a per unit subsidy to demand has on the equilibrium price
and quantity of a good. (See Demand and Supply supplementary reading)