21 Correctly label the x-axis and y-axis with the terms price and quantity. 22. Assign values for price and quantity along each axis. Consider the numbers in your data table and the size of your graph. For example, you may want to label price in increments of 25. 23. Create a title for your graph by choosing a good or service for the data to represent. 24. Using the data table below, plot a supply curve and label the curve "S. 25. Add a curve to your graph that represents a DECREASE in supply. Label the new curve "Sl." 26. Add another curve to your graph that represents an INCREASE in supply Label the new curve "S2." Price Quantity (In whole dollars) 10 600 15 1200 20 2100 25 3000 30 3900 35 5400 40 7200 45 9000 50 10800 27. Using at least one factor from the ROTTEN acronym, explain a situation that could have resulted in a supply increase for the product or service you chose for your graph 28. Using a factor of the ROTTEN acronym thar you dic nor choose n question 27 explain a situation that could have resulted in a supply decrease for the product or service you chose for your graph

21 Correctly label the x-axis and y-axis with the terms price and quantity. 22. Assign values for price and quantity along each axis. Consider the numbers in your data table and the size of your graph. For example, you may want to label price in increments of 25. 23. Create a title for your graph by choosing a good or service for the data to represent. 24. Using the data table below, plot a supply curve and label the curve "S. 25. Add a curve to your graph that represents a DECREASE in supply. Label the new curve "Sl." 26. Add another curve to your graph that represents an INCREASE in supply Label the new curve "S2." Price Quantity (In whole dollars) 10 600 15 1200 20 2100 25 3000 30 3900 35 5400 40 7200 45 9000 50 10800 27. Using at least one factor from the ROTTEN acronym, explain a situation that could have resulted in a supply increase for the product or service you chose for your graph 28. Using a factor of the ROTTEN acronym thar you dic nor choose n question 27 explain a situation that could have resulted in a supply decrease for the product or service you chose for your graph

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 39CTQ: Consider the demand for hamburgers. If the price of a substitute good (for example, hot dogs)...

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