Price of inputs goes up supply goes down whole supply

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price of inputs goes up supply goes down = whole supply curve will go the left2.price of other things I can produce (blueberries went up) = supply of grapes will go down3.number of suppliers goes up = aggregate supply will go up4.technological improvements = supply will go up5.price expectationsIf the price were high the quantity demand will be lowershortage - price goes upsurplus - price goes downequilibrium priceequilibrium quantity------------------------------------------------------------------------------------------Price elasticity of demand = Change in price impact quantity demanded% change in quantity / % change in price
Very Elastic - Given % change in PriceLarge % change in QuantityVery Inelastic -Given % change in PriceSmall % change in QuantityE = % change in Q/ % change in PLinear demand curvePerfect Inelasticity - it doesn’t matter how much within reason, it’s not gonna change thedemand------------------------------------------------------------------------------------------------------------Total Revenue and Price Elasticity of DemandTotal Revenue= Price * QuantityPQTotal Revenue921884325,50949.504.501149.502163211818For any change in price, that is a much lower percent change in price than the impact that youget on quantity. For every 1 down we move the price, we’re moving 2 up quantity. Huge changesin percent quantity for very small changes in price so this is elastic.Much larger percentage change in price and a much smaller change in quantity - relativelyinelasticPrice goes down total revenue was going up. At unit elasticity, when you do a price cut, the total

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