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How the enumerated in the table below affects the demand and supply? Describe their impact with the help of the demand and supply curves (draw cases of shift/movement or put "ticks" in the cells, which characterize the effect of the change).

How the enumerated in the table below affects the demand and supply? Describe their impact with the help of the demand and supply curves (draw cases of shift/movement or put "ticks" in the cells, which characterize the effect of the change).

Exploring Economics
Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter1: The Role And Method Of Economics
Section: Chapter Questions
Problem 9P
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Task No 2 How the enumerated in the table below affects the demand and supply? Describe their impact with the help of the demand and supply curves (draw cases of shift/movement or put "ticks" in the cells, which characterize the effect of the change). Table 1 Change (all other things Shift in the being equal) Shift in the supply curve Movement along the supply curve Movement demand curve along the demand curve |Change in consumer incomes Change in prices of competing products |Change in prices for raw materials |Change of fashion goods Introduction of new technology
Transcribed Image Text:Task No 2 How the enumerated in the table below affects the demand and supply? Describe their impact with the help of the demand and supply curves (draw cases of shift/movement or put "ticks" in the cells, which characterize the effect of the change). Table 1 Change (all other things Shift in the being equal) Shift in the supply curve Movement along the supply curve Movement demand curve along the demand curve |Change in consumer incomes Change in prices of competing products |Change in prices for raw materials |Change of fashion goods Introduction of new technology
Task No 1 In an island with a tropical climate, four people are living. They collect coconuts and turtle's eggs. Everyone collects either 30 coconuts or 15 turtle's eggs per day. a) Draw the production possibility curve of this island. Сосоnuts 360 300 240 180 120 60 15 30 45 60 75 90 Turtle's eggs b) Supposing that some technique is brought to the island. It will help to each of four working inhabitants to collect 40 coconuts per day. Show on the graph how the production possibility curve of this island will be shifted.
Transcribed Image Text:Task No 1 In an island with a tropical climate, four people are living. They collect coconuts and turtle's eggs. Everyone collects either 30 coconuts or 15 turtle's eggs per day. a) Draw the production possibility curve of this island. Сосоnuts 360 300 240 180 120 60 15 30 45 60 75 90 Turtle's eggs b) Supposing that some technique is brought to the island. It will help to each of four working inhabitants to collect 40 coconuts per day. Show on the graph how the production possibility curve of this island will be shifted.
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