Assessment 3.2 1. What does an upward-sloping supply curve mean about how sellers in a market will react to a lower price? 2. What is the difference between the supply and the quantity supplied of a product, say face shields? Explain in words and show the difference on a graph with a supply curve for face shields. 3. Will supply curves have the same exact shape in all markets? If not, how will they differ? 4. Explain and give example of at least 2 determinants of supply? 5. Explain and give example of at least 2 determinants of elasticity of supply? Instructions on how to submit student output Follow the instruction from Module 1, Lesson 1.1 (Assessment 1.1). You will submit your output together for Modules 1 and 2 Pegeef 97 A gbbaly competitive university for science, technology, and environmentalconservation. Devalopment of a highty competitive humanresource, cutting edge scientific knowiedge and innovative tachnologies for sustainable communities and envonment. Vision: Mission: TP-IMD-02 N.DO For instructional purposes only - 1" Semester SY 2020-2021 69 AGSC12 Exercise No. 3 Change in Supply and Change Quantity Supplied Name: Score: Class schedule: Keeping all other things constant, graphically show the effects of the following on the SUPPLY CURVE FOR CÓRN. 1. Cost of fertilizers decrease 4. Less lands are devoted to corn production
Assessment 3.2 1. What does an upward-sloping supply curve mean about how sellers in a market will react to a lower price? 2. What is the difference between the supply and the quantity supplied of a product, say face shields? Explain in words and show the difference on a graph with a supply curve for face shields. 3. Will supply curves have the same exact shape in all markets? If not, how will they differ? 4. Explain and give example of at least 2 determinants of supply? 5. Explain and give example of at least 2 determinants of elasticity of supply? Instructions on how to submit student output Follow the instruction from Module 1, Lesson 1.1 (Assessment 1.1). You will submit your output together for Modules 1 and 2 Pegeef 97 A gbbaly competitive university for science, technology, and environmentalconservation. Devalopment of a highty competitive humanresource, cutting edge scientific knowiedge and innovative tachnologies for sustainable communities and envonment. Vision: Mission: TP-IMD-02 N.DO For instructional purposes only - 1" Semester SY 2020-2021 69 AGSC12 Exercise No. 3 Change in Supply and Change Quantity Supplied Name: Score: Class schedule: Keeping all other things constant, graphically show the effects of the following on the SUPPLY CURVE FOR CÓRN. 1. Cost of fertilizers decrease 4. Less lands are devoted to corn production
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 20RQ: What is the difference between the demand and the quantity demanded of a product, say milk? Explain...
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