I'm a student of a-level and my board is AQA. Please help out in this hw. Thank u?
2. Using a dotted line, mark on the equilibrium price and quantity.
3. If the price of strawberries falls to £1.20, calculate the level of excess demand. Show your working out.
4. If the price of strawberries increases to £2.00, calculate the level of excess supply. Show your working out.
5. The current level of excess demand is 4,000 units. How much does the price need to increase by for the
market to clear?
6. In the next time period, the demand for strawberries increases by 2,000 units at each price level. Draw in the
line demand curve and label it D2.
7. What is the new market-clearing price and quantity?
8. Suggest three reasons why there has been an increase in demand by 2,000 units
at each price level.
9. What might you expect to happen to demand during the Wimbledon Tennis fortnight?
- ?Lv 62 months ago
We know you are in GB. But would you tell us more about your strawberries. So we can identify your supply demand schedule.