Homework Answers
Refer the attached picture for the demand curve of Emma
1a. The demand curve of Emma is a negative linear curve. As we can see when the price increases the quantity demanded decreases.
When price is $ 7, Quantity demanded = 34 and when price is $8 quantity demanded is 26
Change in quantity = 8 novels
2.
3. Refer the attached picture
4, When the income of Emma changed then her demand curve shifted that is the demand curve changed its position. But when the price changed then the demanded moved along the demand curve.
5. Slope of Emma at an income level of $ 40,000
Equation of the demand curve
or, 
Inverse Demand Function, P = 11.25 - 0.125Q
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Could Someone take note for me from this paragraph with explantation . Thank you in advance...
Could Someone take note for me from this paragraph with
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Question 1.5: Which arrow on the graph shows a change in Quantity Demanded? OA OB Both Check Answer Change in Demand vs. Quantity Demanded The distinction between a change in demand and a change in the quantity demanded is an important one. A change in the quantity demanded of a good is caused by a change in the price of the good, therefore, "all else equal" creates a ceteris paribus condition. As such, a change in the quantity demanded of...
How
would the following costs be classified
The diagram shows export tax by a large country in perfect competition. The graph shows the effect of export tax bya arge country under perfect competition. The graph shows price on the vertical axis and output on the horizontal axis. It has three curves:1) a downward sloping world demand curve labeled "D 2) a downward sloping domestic demand curve labeled "Dd that starts at the same point on the vertical axis as the...
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Could Someone take note for me from this paragraph with
explantation . Thank you in advance .
Changes in Equilibrium Prices and Quantities o Changes in equilibrium prices and quantities occur when market forces cause either the demand or the supply curve for a product to shift or both curves shift. These shifts occur when one or more of the factors held constant behind a given demand "Etter. "U S. Farmers Reciiscover the Allure of Tobacco "Scott Kilman, "Crop Prices...
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