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  • Bushels of Apples: The Following Schedules Are For Bushels of Apples in A Local Market. Graph The

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    Marife Romero
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    This document contains an economic activity completed by Jeramiah C. Roble. It includes graphs of the supply and demand curves for apples before and after a decrease in the apple harvest. The original equilibrium price was $16 for 600 bushels. After the harvest decrease, the new equilibrium price is $18 for 400 bushels, showing that the supply decreased and the price increased while quantity decreased. It also shares an economics joke found online.

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    This document contains an economic activity completed by Jeramiah C. Roble. It includes graphs of the supply and demand curves for apples before and after a decrease in the apple harvest. The original equilibrium price was $16 for 600 bushels. After the harvest decrease, the new equilibrium price is $18 for 400 bushels, showing that the supply decreased and the price increased while quantity decreased. It also shares an economics joke found online.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    87 views3 pages

    Bushels of Apples: The Following Schedules Are For Bushels of Apples in A Local Market. Graph The

    Uploaded by

    Marife Romero
    This document contains an economic activity completed by Jeramiah C. Roble. It includes graphs of the supply and demand curves for apples before and after a decrease in the apple harvest. The original equilibrium price was $16 for 600 bushels. After the harvest decrease, the new equilibrium price is $18 for 400 bushels, showing that the supply decreased and the price increased while quantity decreased. It also shares an economics joke found online.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    ECONOMIC DEVELOPMENT

    Activity
    Jeramiah C. Roble

     The following schedules are for bushels of apples in a local market. Graph the
    supply and demand curves. What are the equilibrium price and quantity?

    Bushels of Apples
    20
    19
    18
    17
    16
    15
    14
    13
    12
    11
    10
    200 400 600 800 1000

    Quantity Demanded Equilibrium

    Equilibrium Price = 16
    Equilibrium Quantity = 600
    ECONOMIC DEVELOPMENT
    Activity
    Jeramiah C. Roble

    Now assume that an early freeze has decreased the apple harvest, and a new
    supply schedule is as follows. Has a supply increased or decreased? What are the
    new equilibrium price and quantity?

    Bushels of Apples
    20
    19
    18
    17
    16
    15
    14
    13
    12
    11
    10
    200 400 600 800 1000

    Quantity Demanded Equilibrium

    Equilibrium Price = 18
    Equilibrium Quantity = 400

     Go to the web site at http://netec.mcc.ac.uk/JokEc, find a good economics joke, and


    share it with your teacher!
    “Economists are armed and dangerous: Watch out for our invisible hand”
    ECONOMIC DEVELOPMENT
    Activity
    Jeramiah C. Roble

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