Answer to Question #72864 in Microeconomics for SFU
Here are the demand and supply schedules for pizza: (I arranged them like this because a table would be hard to draw.
Price($/cup) 1 2 3 4 5 6 7
Quantity Demanded (pizza/day) 440 415 390 365 340 315 290
Quantity supplied (pizza/day) 330 360 390 420 450 480 510
A) What is the equilibrium price of pizza
B) How many cups of coffee would be exchangedd at this price
C) How would I graph the demand and supply curve on the same graph?
D)Supposed that an increase in population increases quantity demanded at every price by 110 cups per day. What is the new equilibrium price of coffee
E) Has there been movement along or a shift of the demand curve. Has there been movement along or a shift of the supply curve.