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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
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

Price Quantity supplied of pizza (in no. of slices)
$  0.00 0
0.25 100
0.50 200
0.75 300
1.00 400
1.25 500
1.50 600
1.75 700
2.00 800
2.25 900
2.50 1000

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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