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Using the market
demand graph, show thelaw of demand .
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Using the market supply graph, show the law of supply.
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Briefly explain the economic connections between
price , quantity, and market demand.
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Briefly explain the economic connections between price, quantity, and market supply.
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Illustrate a demand graph where quantity (Q) went from 250 (Q 2) to 180 (Q 1) because
price (P) went from $25 (P 1) to $40 (P 2).
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Illustrate a supply graph where quantity went from 100 to 175 because market price went
From $55 to $65.
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You need some garbage bags for the house and decide to stop by one of local Dollar
Generals (DG). You are faced with two alternatives that make sense to you. The first
option is a box of 38 bags at a price of $7.00. The second option is a box of 17 bags
At a cost of $5.00. Which is the better choice?
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