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Problem: Google to Give Staff 10% Raise
Price : Draw a supply and demand curve: Label all axis Label
equilibrium Price I Quantity with 1
Quantity: Internet Services
2. Demand Taste Income for normal good Income for inferior good Price of substitute good Price of complimentary good Number Buyers Expectations of changes in Price & Income Price of good (Px) Price of good Supply Cost Nunber of Sellers
(T) (Yn) (Yi) (P sub) (Pc) (#B) (EXP p,y)
Read Problem, and Star Determinant Changed
7. List the conclusion : Justify the determinant that changed . Draw Formula to solve Problem: (always same).4. then fill in first three components DETERMINANT (Yn) 5. DEMAND SUPPLY PRICE QUANTITY Change supply and demand curve accordingly: Then fill in last two components of Formula PE Quantity: Internet Services QE DETERMINANT (Yn) DEMAND SUPPLY PRICE QUANTITY 6.