Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 02 Nov 2017 My Price 6.00

quantity of alarm clock

The following table gives hypothetical data for the quantity of alarm clocks demanded and supplied per month.

Price per

Quantity

Quantity

Alarm Clock

Demanded

Supplied

$ 5

3,500

700

$10

3,000

900

$15

2,500

1,100

$20

2,000

1,300

$25

1,500

1,500

$30

1,000

1,700

$35

500

1,900

a. Graph the demand and supply curves.

b. Find the equilibrium price and quantity.

c. Illustrate on your graph how a decrease in the price of telephone wake-up services would affect the market for alarm clocks.

d. What would happen if there was a decrease in the price of wake-up services at the same time that the price of the plastic used to manufacture alarm clocks rose?

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Nov 2017 07:11 PM My Price 6.00

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