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    Tutorial 3

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    Onkarabile Matome
    This is the Table on excel that describe model answers of microeconomic theory of demand and supply

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    Tutorial 3

    Uploaded by

    Onkarabile Matome
    6 views3 pages
    This is the Table on excel that describe model answers of microeconomic theory of demand and supply

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    This is the Table on excel that describe model answers of microeconomic theory of demand and supply

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    6 views3 pages

    Tutorial 3

    Uploaded by

    Onkarabile Matome
    This is the Table on excel that describe model answers of microeconomic theory of demand and supply

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
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    PRICE (cent/gallon) 90 100 110 120 130 140 150

    Quantity demanded (1000 gallons/week) 80 70 60 50 40 30 20

    Quantity supplied (1000 gallons/week) 20 30 40 50 60 70 80

    New Supplied Demanded 0 10 20 30 40 50 60

    Demand and Supply curve


    160 140 120 Price (cent per Gallon) 100 80 60 40 20 0 0 20 40 60 80 100 Quantity Demanded or Supplied (1000 gallons/week) y = -x + 170 R = 1 y = x + 70 R = 1

    Demand Supply New Demand after Crude oil price Increase

    Crude oil price

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