BM1704

Name: Montallana, Lhea J. Date:

Section: BSMA 301 Score:

I. GRAPH CONSTRUCTION (10 items x 2 points)

Construct the graphs that will correspond to the change in the market.

1. Mang Ramon is a fisherman who sells his catch in the town of Santa Clara. There are other
fishermen like him, who catch mostly the same fish and price their products the same. One (1)
day, they are able to catch more fish, which they all decide to sell in the market. Assuming that
there are no changes in the costs, and the graph below are from before the new fisherman
entered the market, show the shifts in:
 Demand and supply graph (10 points) (How will demand and/or supply shift?)
 Price and profits of Mang Ramon and the other fishermen (10 points) (Will the price and
profits of the others increase/decrease?)

ANSWER:

Assuming that the fishermen were able to catch more fish the other day and decided to
sell them for the same price as before, this graph must show that the supply of fish has
increased. Mang Ramon's and the other fishermen's prices had to decline along with
their earnings since the supply rose even while the price remained the same.

Rubric for Scoring:

CRITERIA PERFORMANCE INDICATORS POINT
S
Design The graph is correctly presented and 6
organized.
Labels All components are labeled accordingly. 4
Total 10

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