Purchase Solution

Drawing supply curves

Not what you're looking for?

Ask Custom Question

Draw out multiple supply graphs and identify and explain and affect on quantity and price: 1) Elastic Demand Curve, 2) Perfectly Inelastic Demand Curve, 3) Perfectly Elastic Demand Curve, and 4) Unit Elasticity.

Purchase this Solution
Solution Preview

Here is the solution for this problem for one supply curve. To do other supply curves, just change the slope of the supply curve and see how that changes the equilibrium point. Supply curves are generally upward sloping, indicating that at higher prices a greater quantity will be ...

Purchase this Solution
Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

View More Free Quizzes
Related BrainMass Solutions

  • Macroeconomics (Supply and Demand Analysis)

    181402 Macroeconomics (Supply and Demand Analysis) Supply and Demand Analysis. a) Illustrate the market for a good by drawing the industry's demand and supply curves. On the graph, identify the equilibrium price and the equilibrium quantity.

  • compare the economic incidence of tax with its legal incidence

    What are the new supply and demand curves? What is the new equilibrium price and quantity of oranges? What is the new post-tax rice from the supplier's point of view? Illustrate your answer by drawing the supply and the demand curves. D.

  • Market Analysis is achieved.

    Illustrate your answer by drawing the supply and the demand curves. C. Repeat the exercise for 50 cents sale tax instead of excise tax. D.

  • horizontal sum of competitor MC curves

    The market supply curve is the horizontal sum of the supply curves of all the firms in the industry. So, answer is horizontal sum of competitor MC curves. A horizontal sum of competitor MC curves is exemplified.

  • Price elasticity of stockpiled lobster

    The demand curves shifts outward in anticipation of greater sales. This causes the new equilibrium to be at a higher price and greater quantity exchanged.

  • Selecting the suitable option

    466427 Industry supply curve The short-run industry supply curve for a perfectly competitive industry is the ? a) horizontal sum of the individual firms'marginal cost curves above AVC.

  • Supply and Demand (Price) Curves

    210902 Supply and Demand (Price) Curves Please find and answer the question attached. D. The intersect of supply and demand (Price) curves: When P = 40, Qd = Qs = 2; When P = 80, Qd = Qs = 4.

  • Contour maps

    This provides an example of drawing a contour map of functions.

  • Demand and Supply Curves explained in this solution

    Graph the demand and supply curves, and identify the equilibrium price and quantity. Please refer to the attachment. Graph the demand and supply curves, and identify the equilibrium price and quantity.

  • Demand and Supply Curves - Luxury Sports Cars

    210929 Demand and Supply Curves - Luxury Sports Cars Please see the attachment to find the question pertaining to the demand and supply curves for the market for luxury sports cars. Please refer to the attachment.

View More Related Solutions