The following table is a demand and a supply schedule for pens. Price
AED
Quantity
Demanded
Per day
Quantity
Supplied
Per day
1
28
4
2
24
8
3
20
12
4
16
16
5
12
20

Using the table above, respond to the following:

1. Plot the demand and supply curves for the pens market and label the axis and each curve. On the graph show the equilibrium point. (2 marks)
2. Determine the equilibrium price and quantity (1 mark)

3. At the equilibrium price, is there a surplus or shortage and how much is it. (1 mark)

4. At price AED 3, describe the situation of the market and show it on the figure. (1 mark)

5. From question 4 above, how much is this surplus or shortage? (0.5 marks)

6. In this case, will the price increase or decrease? (0.5 marks)

early settlements on the subcontinent. both the indus and the ganges rivers carried rich silt from the mountains to the plains. when the rivers flooded, the silt spread over the plains and made the soil in the river valleys fertile for farming.

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.

the answer to this question is d

if you have to make a general question and respond to your thoughts, then this isn't really a question someone can you on. read the passage, form your question, and answer using your thoughts. no one else can understand how you interpreted this text if you don't tell us.