Authors libby rittenberg 178
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2. At a price of $1.50 per dozen, how many bagels are supplied per
month?
3. At a price of $3.00 per dozen, how many bagels are demanded per
month?
4. At a price of $3.00 per dozen, how many bagels are supplied per
month?
5. What is the equilibrium price of bagels? What is the equilibrium
quantity per month?
Problems 6–9 are based on the model of demand and supply for
coffee as shown in Figure 3.17 "Changes in Demand and Supply" You
can graph the initial demand and supply curves by using the following
values, with all quantities in millions of pounds of coffee per month:
Price Quantity demanded Quantity supplied
6.
$3
40
10
4
35
15
5
30
20
6
25
25
7
20
30
8
15
35
9
10
40
Suppose the quantity demanded rises by 20 million pounds of
coffee per month at each price. Draw the initial demand and supply
curves based on the values given in the table above. Then draw the new
demand curve given by this change, and show the new equilibrium price
and quantity.
Attributed to Libby Rittenberg and Timothy Tregarthen
Saylor URL: />
Saylor.org
178
