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Week 3 Homework
Week 3 Homework
Week 3 Homework
Lara A. Pacheco
International College of the Cayman Islands
BE-201: Principles of Economics I
Instructor: Daniel Alcorn
WEEK 3 HOMEWORK
WEEK 3 HOMEWORK
Quantity Demanded
Quantity Supplied
$11
10
1 million Frisbees
2
15 million Frisbees
12
10
WEEK 3 HOMEWORK
When the price for lemons increase, the supply of lemonade decreases. This means
that the price of lemonade will also increase and the consumer surplus will decrease.
This proves that a change in consumer surplus of one market can affect the other
markets.