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Demand SupplyShift
Price Supply DemandShift
5 1100
10 1000 200
15 400
20 900 500
25 600
30 800
35 750 700
45 600 800
50 400 850
....
5
0
5
0
5
0
5
0 I5
I100 200 300 400 500 600 700 ~OO 900 1000
NtJMBER OF UNITS
2. An outside producer wants to sell similar products at $45/unit.
How many would consumers be willing to buy at this price? units
How many would sellers be willing to sell at this price? units
How many would remain unsold at this price (surplus)? units
3. A foreign consumer group offers to buy these products, but will only pay $25/unit.
How many might be available at this price? units
How many might these foreigners purchase at this price? units
How many orders will go unfilled at this price (shortage)? units
5. April 15th income tax surcharges take money out of consumers' pockets, creating a 25% decrease in demand at each price level. Complete the chart and plot
the new demand curve (01).
