Demand and Market Supply

Week 2: Market Forces of Supply and Demand on: Surplus and Shortage

Problem #1

Don't use plagiarized sources. Get Your Custom Essay on
Demand and Market Supply
Just from $13/Page
Order Essay

Due Date: Due by the end of Week 2 at 11:59 pm, ET.

In any market, demand is used to study the behavior of buyers, and supply is used to study the behavior of sellers and producers. In order to study the behaviors of buyers and sellers, you will use the beans market for your Homework Problem to determine the market demand and market supply.

Demand and supply curves explain the relationship between price and quantity. Because there is a law that guides market demand and supply, the demand and supply curve shifts. This law of demand and supply assumes that every factor that affects market demand and market supply, other than price, is constant. Factors that are held constant for market demand are: income, price of related good, tastes, expectations, and number of buyers. For supply market, they are: input prices, technology, expectations, and number of sellers.

In Problem #1, you need to plot graphs in Excel to show how the demand and supply curve shifts when quantity increases or decreases at given prices.

Supply and Demand: The Beans Market
View this video to complete the problem below: https://www.youtube.com/watch?v=w-R4BDNxSLU

Answer the questions below by using the following schedule for the beans market:

 

Price

 

Quantity Demanded

 

Quantity Supplied

 

$5

 

50

 

20

 

$6

 

45

 

25

 

$7

 

40

 

30

 

$8

 

35

 

35

 

$9

 

30

 

40

 

$10

 

25

 

45

 

$11

 

20

 

50

 

$12

 

15

 

55

 

 

· Use the Excel template to graph the demand and supply curves based on the values given in the table above.

· Assume that the quantity demanded for beans rises by 30 million pounds per month for specific given price.

· Plot the initial demand and supply curves on a single graph based on given values in the above table.

· Graph the new demand curve given by this change.

· Relative to the values given in the above table, let’s assume that the quantity demanded falls by 30 million pounds per month between $5 and $10 per pound; between $10 and $12 per pounds, and the quantity demanded become zero.

· Plot initial the demand curve given by this change on a single graph.

· Graph the new demand curve given by this change.

· Assume that the quantity supplied for beans rises by 30 million pounds per month for specific given price, at the time the value for quantities supplied remain the same as shown in the table above.

· Plot initial demand and supply curves on a single graph based on given values in the above table.

· Graph the new supply curve given by this change.

· Relative to the values given in the table above, let’s assume that, the quantity supplied falls by 30 million pounds per month at prices above $8, at a price of $8 or less per pound and the quantity supplied becomes zero.

· Plot the initial demand and supply curves based on the values given in the table above and new supply curve given by this change on a single graph.

* Information must be entered in Excel template*

Grab 16% Discount On This Paper
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

ACME Homework provides the best top-grade academic writing services in compliance with our customers’ instructions. Have your paper written by a certified professional online college homework help writer to produce only high-quality essays with zero plagiarism.

Professional Academic Writers

You can now choose from a pool of online college homework help writers. Choose your writer and have them write the best content for you. ACME Homework has, over the years, secured a team of the most reliable, experienced, and qualified writers. You can, therefore, trust that your assignment is in good hands.

Affordable Prices

We know that students have very limited budgets. And for that, we always strive to provide only the best, most affordable online college homework help services to our customers. Our goal is to provide top-quality assignment help services to all customers at the lowest, most affordable prices.

On-Time delivery

At Acmehomework.com, we pay strict attention to deadlines. We recommend you to check out clients’ reviews for assurance that we will complete your assignments within the set deadlines. You can, therefore, trust that your paper will be done within and before the set deadline. Until now, we have not missed a single deadline.

100% Originality

Our Acmehomework.com homework helper experts write only 100% original and plagiarism-free content for all of our clients. We also have a Quality Assurance Department team that goes through all work submitted by our writers multiple times. You can, therefore, rest assured that any signs of plagiarized or unoriginal content will be rejected before it reaches your portal.

Customer Support 24/7

Acmehomework.com expert writers are always available 24/7 for customers who need assistance with using our website. You don’t have to check your watch the next time you want to have your assignment written. Our customer support is always available round the clock and ready to listen to your queries. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Grab 16% Discount On This Paper

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

For years now, Acmehomework.com has stood as a leader in providing its customers with the best online college homework help service in the industry. And all you have to do is provide us with the details of your order. Leave everything else to us. We’ve always got you covered.

Essays

Essay Writing Services

Since we launched, Acmehomework.com deserved the best online “college homework help status” thanks to our essay ordering, writing, and delivery process. We deliver nothing but excellence in our results. Our essay writing services include impeccable grammar, zero-plagiarism, proper structure, and conformance to guidelines.

Admissions

Admission and Business Papers

Our top-quality online college homework help services guarantee that you will be accepted into your desired university. You just need to fill out your admission and business papers, and our team of online homework help workers will handle the rest. We will help you achieve and secure the best positions in your admissions forms.

Editing

Editing and Proofreading

At Acmehomework.com, we have a skilled writing and editing team that’s dedicated to creating, editing, and restructuring for all types of papers. Our online college homework help editing and proofreading team will check, paraphrase, and correct any grammar mistakes on your paper before submitting the final document to you.

Coursework

Technical Papers

At Acmehomework.com, we pride ourselves in having writers in almost all fields, even the most technical ones. You never have to worry about your paper being too technical for our certified online college homework help writers to handle. ACME Homework’s team of writers can handle even the most complex writers. We will match your paper to the most competent writer that we believe will handle your paper the best way possible.

                                                                                     Place Order