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a. Use the figure to fill in the quantity supplied given the supply curve S1 for each price in the table below (second column, gray- shaded cells). Instructions: If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. S1 Quantity Supplied 15 10 S2 Quantity Change in Quantity Price Supplied Supplied $3

The figure below shows the supply curve for tennis balls, S, for Drop Volley Tennis, a producer of tennis equipment. If production costs were to increase, the quantities supplied at each price would be as shown by the third column of the table (S2 Quantity Supplied) 4 s1 (20, 3) 2 10 15 20 Quantity supplied

b. Use those data to draw supply curve S2 on the graph below. Instructions: On the graph below, use your mouse to click and drag the supply curve S1 as necessary, or you may move the individual points. 10 15 20

c. In the fourth column (gray-shaded cells) of the table in part a, enter the amount by which the quantity supplied at each price changes due to the increase in product costs. (Use positive numbers for increases and negative numbers for decreases.) d. Did the increase in production costs cause a decrease in supply or a decrease in quantity supplied? (Click to select A decrease in supply A decrease in the quantity supplied

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Answer #1

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