Equilibrium price Pe labelled on the vertical axis and Qe on the horizontal

Equilibrium price pe labelled on the vertical axis

This preview shows page 1 - 3 out of 4 pages.

Equilibrium price Pe labelled on the vertical axis and Qe on the horizontal axis at the intersection of the supply and demand curves. 1 point: Price line at a price Pc below the equilibrium price 1 point: Correct indication of the shortage, which is the horizontal distance between the quantity demanded and the quantity supplied at the height of Pc ASSIGNMENT: 1) Draw a correctly labelled graph for oranges in equilibrium. Show on your graph how a hurricane that destroys large numbers of orange groves in Florida will affect supply and demand if at all.
Image of page 1
2) Draw a correctly labelled graph for cups of coffee in equilibrium. On your graph, show the effects of a decrease in the price of coffee beans on equilibrium price and equilibrium quantity in the market for cups of coffee. 3) Draw a correctly labelled graph of a housing market in equilibrium. On your graph, illustrate an effective legal limit on rent. Identify the quantity of housing demanded, the quantity of housing supplied and the size of the resulting surplus or shortage 4) Reproduce the graph provided to answer the following questions; a.
Image of page 2
Image of page 3

You've reached the end of your free preview.

Want to read all 4 pages?

  • Spring '14
  • DeborahK.Williamson
  • Supply And Demand, producer, correctly labelled graph

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes