This preview shows page 1. Sign up to view the full content.
Unformatted text preview: in (a) words,
(b) symbols, and (c) graphic form.
3. Luisa is willing but not able to produce and
offer to sell plastic cups. Is Luisa a supplier of
plastic cups? Explain your answer.
4. Are all supply curves upward sloping? Why or
5. Write out a supply schedule for four different
combinations of price and quantity supplied.
6. Identify whether the supply curve for each of
the following would be vertical or upward
a. desks in your classroom at this moment
b. seats at a football stadium at this moment
c. television sets over time
d. Hewlett-Packard computers over time
e. Picasso paintings (Hint : Picasso is dead.)
7. What does it mean when a supply curve shifts to
the right? To the left? 05 (110-127) EMC Chap 05 11/18/05 4:19 PM Page 127 8. Between the price of $10 and $14, supply is
inelastic. What does this statement mean?
9. Explain what happens to the supply curve of
television sets as a consequence of each of the
a. Resource prices fall.
b. A technological adv...
View Full Document
This document was uploaded on 01/16/2014.
- Winter '14