Screenshot 2024-12-10 1.24.53 PM
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School
Skyline High School**We aren't endorsed by this school
Course
ECONOMICS 101
Subject
Economics
Date
Dec 18, 2024
Pages
1
Uploaded by MagistrateNeutronSwan31
ARl ol What is the shortage at $2.007? How did this scenario benefit the supplier of CDs? Changes in Supply Scenario: The following schedule shows a change in supply based on new technology and methods of producing CDs. The supply increased for CDs because the new technology allowed the supplier to produce CDs at a reduced rate. What happened to the original demand curve? How was the equilibrium point affected? What is the surplus at $6.007? 5 shifted right increased by 2 8 It caused the price to increase Price Per | Quantity Quantity Quantity Shortage/ Compact | Demanded Supplied Supplied Surplus Disc (old (new (New QS technology) | technology) minus QD) 6 0 9 14 14 5 2 6 12 10 4 3 5 10 3 4 4 2 6 3 6 1 9 0 3 -6 1. What happened to the original supply curve? 2. How was the equilibrium point affected? _increased by 2 shifted right
