Question

Jaydens Homework: Homework 1 Score: 0 of 10 pts Text Problem 3-2 3 of 7 (2 complete) Suppose that in a recent market period, an industrywide survey determined the relationship between the price of prerecorded movie DVDs and the quantity supplied and quantity demanded shown in the table below and depicted in the graph at right Price Quantity Demanded Quantity Supplied $21 $22. 120 milion 110 million 100 milion 90 million 80 milion 60 milion 80 milion 100 milion 120 million 140 milion Price (5) Suppose that a survey for a later market period indicates that the quantities supplied in the table are unchanged, but the quantity demanded the increased by 30 million units at each price. 1.) Using the multipoint curve drawing tool, draw and label the new demand curve for movie DVDs. Property label this line 2) Using the point drawing tool, indicate the new equilibrium point Label Carefully follow the instructions above, and only draw the required objects. , 700 Hobo 1607 Output After plotting the final point of your multipoint curve, press the Esc key or

Answer 1

Price	Qd	Qs
20	150	60
21	140	80
22	130	100
23	120	120
24	110	140

a.

Price ($) = Qd sos 14 TTT 50 60 70 80 90 100 120 130 140 150 160 170 110 Output

b.

Price ($) - - 50 60 70 80 90 100 120 130 140 150 160 170 110 Output