Macroeconomics
Macroeconomics | Assignment 1: Demand Illustration | Market Subject- Blueberries Cultivated/ Produced |
Price Per Pound ($) | Quantity Demanded Per Year (lbs) | $5.10 | 2 | $4.60 | 3 | $4.10 | 4 | $3.60 | 5 | $3.10 | 6 |
Personal Demand:
Market Demand: Price Per Pound ($) | Quantity Demanded Per Year(lbs) | $5.10 | 170,000,000 | $4.60 | 180,000,000 | $4.10 | 190,000,000 | $3.60 | 200,000,000 | $3.10 | 210,000,000 |
Increase in Demand: Price Per Pound ($) | D1 (before income rises) Quantity Demanded Per Year | D2 (after income rises) Quantity Demanded Per Year | $5.10 | 170,000,000 lbs | 200,000,000 lbs | $4.60 | 180,000,000 lbs | 210,000,000 lbs | $4.10 | 190,000,000 lbs | 220,000,000 lbs | $3.60 | 200,000,000 lbs | 230,000,000 lbs | $3.10 | 210,000,000 lbs | 240,000,000 lbs |
Price Per Pound ($) | D1 (before price of subs. falls) Quantity Demanded Per Year | D2 (after price of subs. Falls) Quantity Demanded Per Year | $5.10 | 170,000,000 lbs | 140,000,000 lbs | $4.60 | 180,000,000 lbs | 150,000,000 lbs | $4.10 | 190,000,000 lbs | 160,000,000 lbs | $3.60 | 200,000,000 lbs | 170,000,000 lbs | $3.10 | 210,000,000 lbs | 180,000,000 lbs |
Decrease in Demand:
One Firm’s Supply: Price Per Pound ($) | Quantity Supplied Per Year(lbs) | $5.10 | 170,000 lbs | $4.60 | 180,000 lbs | $4.10 | 190,000 lbs | $3.60 | 200,000 lbs | $3.10 | 210,000 lbs |
Market Supply: Price Per Pound ($) | Quantity Demanded Per Year(lbs) | $5.10 | 210,000,000 | $4.60 | 200,000,000 | $4.10 | 190,000,000 | $3.60 | 180,000,000 | $3.10 | 170,000,000 |
Increase in Supply: Price Per Pound ($) | S-1 (before tech. improves) Quantity Demanded Per Year | S-12 (after price of subs. Falls) Quantity Demanded Per Year | $5.10 | 210,000,000 lbs | 500,000,000 lbs | $4.60 | 200,000,000 lbs | 400,000,000 lbs | $4.10 | 190,000,000 lbs | 300,000,000 lbs | $3.60 | 180,000,000 lbs | 200,000,000 lbs | $3.10 |
Price Per Pound ($) | Quantity Demanded Per Year (lbs) | $5.10 | 2 | $4.60 | 3 | $4.10 | 4 | $3.60 | 5 | $3.10 | 6 |
Personal Demand:
Market Demand: Price Per Pound ($) | Quantity Demanded Per Year(lbs) | $5.10 | 170,000,000 | $4.60 | 180,000,000 | $4.10 | 190,000,000 | $3.60 | 200,000,000 | $3.10 | 210,000,000 |
Increase in Demand: Price Per Pound ($) | D1 (before income rises) Quantity Demanded Per Year | D2 (after income rises) Quantity Demanded Per Year | $5.10 | 170,000,000 lbs | 200,000,000 lbs | $4.60 | 180,000,000 lbs | 210,000,000 lbs | $4.10 | 190,000,000 lbs | 220,000,000 lbs | $3.60 | 200,000,000 lbs | 230,000,000 lbs | $3.10 | 210,000,000 lbs | 240,000,000 lbs |
Price Per Pound ($) | D1 (before price of subs. falls) Quantity Demanded Per Year | D2 (after price of subs. Falls) Quantity Demanded Per Year | $5.10 | 170,000,000 lbs | 140,000,000 lbs | $4.60 | 180,000,000 lbs | 150,000,000 lbs | $4.10 | 190,000,000 lbs | 160,000,000 lbs | $3.60 | 200,000,000 lbs | 170,000,000 lbs | $3.10 | 210,000,000 lbs | 180,000,000 lbs |
Decrease in Demand:
One Firm’s Supply: Price Per Pound ($) | Quantity Supplied Per Year(lbs) | $5.10 | 170,000 lbs | $4.60 | 180,000 lbs | $4.10 | 190,000 lbs | $3.60 | 200,000 lbs | $3.10 | 210,000 lbs |
Market Supply: Price Per Pound ($) | Quantity Demanded Per Year(lbs) | $5.10 | 210,000,000 | $4.60 | 200,000,000 | $4.10 | 190,000,000 | $3.60 | 180,000,000 | $3.10 | 170,000,000 |
Increase in Supply: Price Per Pound ($) | S-1 (before tech. improves) Quantity Demanded Per Year | S-12 (after price of subs. Falls) Quantity Demanded Per Year | $5.10 | 210,000,000 lbs | 500,000,000 lbs | $4.60 | 200,000,000 lbs | 400,000,000 lbs | $4.10 | 190,000,000 lbs | 300,000,000 lbs | $3.60 | 180,000,000 lbs | 200,000,000 lbs | $3.10 |