Extensions of Demand and Supply Analysis
Price system: An economic system in which relative prices are constantly changing to reflect changes in
supply and demand for different commodities. The prices of those commodities are signals to everyone
Principles of Microeconomics
Questions for Review
8. What happens to the equilibrium price if the supply curve shifts to the right and the
demand curve does not shift?
The equilibrium price will fall.
9. What happens to the equili
Principles of Microeconomics
Due: Jun 16, 2006
Questions for Review
2. Why does scarcity imply a choice among alternatives?
Scarcity implies a choice among alternatives because while we have unlimited wants, needs,
Econ 2 0914 #15 (57 pts) Summer 2015
Name: ohanmalm ‘pu'lz
The Business Cycle
(2) 1. Label the 4 stages of the Business Cycle.
A. Boom Ex ahs'lbn B. P-ealtH'OE (it Hit each?)
c. Busﬁeecession on Conmcmnm Through (gynecsion [mem cycle)
The Two Big Topi
Econ2 #4 (10pts) Summer2015
Name: Chapmaine pulz , M I 4
(MO graph examples, 2 pts. each)
Hand draw the missing graphs below for each X 8! Y shown. Then answer question 2 for each example.
X 8. Y (cause-&-effect), Dlrectllnverse Relations.
1. x is days of
Econ 2 0914 #12 (32 pts) Summer 2015
Name: Ghaﬂmainf pure,
Demand SHQCKS and Shifts.
« ee§$ .7
Do.- §, °
Damn (VALVE) ' V v
'Db w N”
DEMAND SHOCK -) SHIFTS IN DEMAND. (4 pts.)
This i the Demand Curve for Butter. Which ‘shift’ will ha n a or
Econ 2 0914 #13 (30 pts) Summer ‘15
Name: Chapmain€ Euiz
(3 pts) 1. Label the 2 Markets and the 4 “real & nominal” Flows in the
epocds Map ke—f
. Imam 0P ‘lcp GDP)
L090 P Ma Maw
N0 day is ““11th .
Econ 2 0914 # 14 (27 pts) Summer 2015
Name: Chanmalni’ PW"
(4) Key Macro Statistics — web research.
Look up the following numbers at U.S. Debt Clock website, http:/www.usdebtclock.orgl
Write exact DAY & TIME you recorded each number. Round off number to
Econ2 0914 #10 (15 pts) Summer 2015
Market Equilibrium 8. Trade Gains
Use Supply & Demand Graph for macaws (above) to answer these questions.
1. What is the Equilibrium (Agreement) Quantity Sold to Buyers? 500
2. What is the Equilibrium Pric
Econ 2 0914 Assignment #11 (27 pts) Sum’15
Name: a mains Fuip
Shortage, Surplus, and Gov’t. Price Controls
Hint: not all Letters on the Graph are used for answers. Yes-l am trying to ffiCK you.
Assume: Sellers put the Price for the good Clownﬁsh at $
Econ2 0914 #8 (8 pts) Summer 2015
Name: Charmaine Pull. 04w
Demand Curve 8. Consumer Surplus.
Use this Demand for Puppies graph to answer questions.
Assume Price of Good is 51 50.
1. What is her optimal (best) quantity demanded, Gd?
2. What Area shows
Name: anmame i1. 041
Sapply Curve & Producer Surplus (Proﬁt).
Use the Supply Curve (cost graph) for Honda motorcycles above to answer
Assume Price of Good is currently selling at $10,000 each.
1. What is the dealer’s optimal (best) quantity s
Econ2 0914 #5 (8 pts) Summer 2015
Name: . «in! , ' , Q‘ll‘i
Use the graph below to answer questions.
ASSUME ou are on: PPC # 3.
1. List 2 points that are “Unattalnable' or "lnfeasible' outcomes. 2 ¢ .5 L T
2. List 2 po
Econ1 Assignment #15 Due Sun 5/15 (25 pts.) Sp 16
Name: Chmmaine P—uiL
(1) 2 Types of Inputs (Resources) used by ﬁrms
1- gs; the “2 Types of Inputs" that textbooks say businesses use:
(3) Marginal Product Table
2. Fill in the missi
B 1. Celery, a “Substitutes” for Carrot Sticks, is much cheaper in price thi
& 2. ‘Eating Carrot Sticks causes Cancer!’ a new medical study shows!
A 3. Hummus, a “complement" to dip Carrot Sticks, is “on sale” (lower
Econ‘l, A“! #13: Elasticity (25 9“.) Duo: Sun ”2015, 11pm. 8M5
Nam: mine ﬁnia-
Elaatlclty of Damand (on graphs).
1. MlohoftlmaDunandoumaabova-A or B-lathunoot m:_§_
Elaatlclty of Demand lonnula.
2. Sumnﬂtalﬁcmngolnouanﬂtynunandadlam and tln'bClmg
Econ1 #14 Due: May1st, 11 pm. (27 pts.) Sp. 2016
Industries — by ease of entry.
(1) 1- Lis_t the 2 Types of industries - based on ease of entry.
”“92”!" indumuj l“ manm) -. angonc Can mm: and 512+ up shop W?“ F‘W
Econ1 Ass’t #10 (15pts) Due: Sun 3120,11pm Spr’ 16
Name: chanmai ne uni-z.
Market Equilibrium 8- Trade Gains
Use Supply & Demand Graph for macaws above to answer questions.
1 . What is the Equilibrium (Agreement) Quantity Sold to Buyers? ‘4 0
shadcd apea .
Is the“locs 'A
o 5 1o 2 30 35 59 4g 50 55 so Q
Assume: Sellers put the Price for the good Clownfish at: $ 12 .
1. What is the “effective” Quantity? 9.5
2. What is happening, at this Price? SUPEluS
3. How much of one? 50 - 16 2 l5
Econ1 #9 (8 pts) Due Wed 3/16/16 11pm. Spr’16
Name: chapmaing En.
Supply Curve & Producer Surplus (Proﬁt).
Use the Supply Curve (cost graph) for Honda motorcycles above to the answer
Assume Price of Good is currently sellin
Econ 1 # 8 (8 pts) Due: Sun 2I13I16, 11pm. Spr16
Name: chanmaa'ne P-w-z.
Demand Curve & Consumer Surplus.
0 102030405060 7080 0d
Use Demand for Puppies Graph above, to answer these questions.
Assume that Price for Pu ies is: 240.
1. What is her opﬁmal
Assignment #3. 8 pts. Due: Sun 2/21/16, 11 pm. Spring 2016
YourName: Charmaine uiz
P all a awe ON
. You can print out this first page, and DRAW 8: WRITE youranswlrs right on this page. Then
hire a PICTURE of your handwritten page Mil-i your Phone - save
Econ1 Asst #16. Due: Sun 5/15 11pm (10 pts) Spr16
NAME: chanmotine P—u'lz
This I! I Virtual assignmoﬂt. Each short answer It worth 2 pk. WHEN COMPLETING THIS ASSIGNMENT:
90 W GIVE YOUR OWN EXAMPLES. DO m OOOGLE “PUBLIC GOOD”! IF YOU CUT-lu-PASTE ANSWERS
Econ 1 Asst. #4 (8 pts) Due Sun. 2/28/16, 11pm. Sp‘15
Use the Production Possibilities Curves (PFC) graph below to answer the questions.
Assume ou are on: PPC # 3 for all the uestions.
1 . If Society produces only CARS. what is t
1'13 your angling 9n mi; [Hm gage gnu. Identify 'cause’ (X) and ‘effact' (Y).
in each Article. Save word ﬁle - dro
hand-and-papor Icon link (on
Y: Hﬂpm'ln TIMNI «Rim! in Latin America and 1+1! ('ambbmn)
For Article #2
X: coal Ices seal?
Y: ea+ h rs u
Econ 1 Asst. #4
(8 pts) Due Sun. 2/28/16, 11pm. Sp15
Use the Production Possibilities Curves (PPC) graph below to answer the questions.
Assume you are on:
PPC # 3, for all the
1. If Society produces only CARS, what is the maximum that it
Total Surplus [Social Surplus, Trade Gains on Market graph] is the area:
a. above the demand curve and below the price.
b. below the demand curve and above the supply curve.
c. below the supply curve and below the price.
d. below the demand cu