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will explain by means of a graph the concepts demand, supply and the equilibrium point
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- What is the difference between the supply and the quantity supplied of a product, say milk? Explain in words and show the difference on a graph with the supply curve for milk.In an analysis of the market for paint, an economist discovers the facts listed below. State whether each of these changes will affect supply or demand, and in what direction. There have recently been some important cost-saving inventions in the technology for making paint. Paint is lasting longer so that property owners need not repaint as often. Because of severe hailstorms, many people need to repaint now. The hailstorms damaged several factories that make paint, forcing them to close down for several months.Explain the simultaneous change in demand and supply with the help of graph?
- Explain the relationship between demand and supply and also draw graphs.Draw a demand and supply graph, label all axes, and the equilibrium price and quantity. Once you have done this draw what would happen if there was a decrease in the number of buyers in the marketHow do u construct a graph showing supply and demand for the tablet case market? How are the laws of supply and demand illustrated in a graph.explain your answer.
- What is the difference between a "change in demand" and a change in "quantity demanded"? Holding demand constant, what is the only thing that can cause a change in quantity demanded and how it will be shown on a graph? What are the things that cause a change in demand and how it will be shown on a graph?Explain in a critical way the effects of supply and demand on seasonal agricultural products (strawberry for example). Use graphs to show your analysisIf supply is diminished what happens to the price of goods? What happens to the demand for goods? Use your research to explain your conclusions and include a graph for at least one of your examples