Supply

Supply - of cars would Increase/Decrease/Remain unchanged 5 If P = 50 2Qs then Qs = 0.5P 25 6 If P = 300 then Qs = 1 25 Quantity supplied of X

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1) Suppose workers who pick apples receive a wage increase, the supply for apples would? Increase/ Decrease /Remain unchanged 2) Suppose firms that produce DVDs become pessimistic, then the supply of DVDs would? Increase/ Decrease /Remain unchanged 3) Suppose there is an increase in the productivity of machines that are used to produce cars, the supply 
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Unformatted text preview: of cars would? Increase /Decrease/Remain unchanged 5) If P = 50 + 2Qs then Qs = 0.5P - 25 6) If P = 300 then Qs = 1 25 Quantity supplied of X Price of X 80 $140 $100 Q7) Using the table above, what is the price elasticity of supply using the arc/midpoint formula? PED = + 6 (elastic)...
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This note was uploaded on 09/19/2011 for the course ECN 211 taught by Professor Kingston during the Fall '08 term at ASU.

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