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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

Make up an example of a monthly supply schedule for pizza, and graph the implied supply curve. Give an example of something that would shift this supply curve, and briefly explain your reasoning. Would a change in the price of pizza shift this supply curve?

To determine

Monthly supply schedule.

Explanation

Table -1 shows the supply schedule.

Table -1

PriceQuantity supplied of pizza (in no. of slices)
$  0.000
0.25100
0.50200
0.75300
1.00400
1.25500
1.50600
1.75700
2.00800
2.25900
2.501000

Table 1 shows a monthly supply schedule of pizza. Using Table 1, the supply curve is graphed as shown in Figure 1.

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