Economic Issues and Policy 5th Edition by Jacqueline Murray Brux

تمرين 7

The following schedules are for bushels of apples in a local market. Graph the supply and demand curves. What are the equilibrium price and quantity

Now assume that an early freeze has decreased the apple harvest, and the new supply schedule is as follows. Has supply increased or decreased What are the new equilibrium price and quantity (Note that the demand curve is unchanged.)