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3 luisa is willing but not able to produce and offer

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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 why not? 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 sloping. 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 following. a. Resource prices fall. b. A technological adv...
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