Supply and Demand project Step 7: Determinants of Supply (New

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Supply and Demand project

Step 7: Determinants of Supply (New Supply Schedules/Supply Curves) Using the six determinants of supply (from 4.2), you will create two new supply schedules/supply curves. One of the supply schedules will indicate an increase in demand; one will indicate a decrease in supply  As a group, select one of the six DoS’s to explain an increase in demand for your project. Draw out another 2-row, 7 column demand schedule. Using the same prices as before, indicate demand has increased by increasing each of the quantity-supplied boxes. (Increase each one by the same amount. See the example below) Label this S2 and a one paragraph scenario explaining how supply increased

Price Quantity Supplied $140 900 $160 1000 $180 1100 Trgt. Price $200 1200 $220 1300 $240 1400 $260 1500

 Example: Supply for the fart phone increase because the price of sulfur used to make the smell went down. Since you already have your graph drawn, labeled, and incremented; all you have to do is plot the new supply schedule points. After you have drawn in all of the points, connect the dots, creating a NEW demand curve. Label this new demand curve S2. After you have created your second Supply schedule/Supply curve (showing an INCREASE in supply), its time to create your last supply schedule. This time your new supply schedule/curve will show a DECREASE in demand.  As a group, select one of the six DoS’s (a different one) to explain a decrease in supply for your project. Draw out another 2-row, 7-column supply schedule. Using the same prices as before, indicate supply has decreased by decreasing each of the quantity supplied boxes. (Increase each one by the same amount. See the example below) Label this S3 and a one paragraph scenario explaining how supply increased

Price Quantity Supplied $140 1100 $160 1000 $180 900 Trgt. Price $200 800 $220 700 $240 600 $260 500

 Example: Supply for the fart phone decreased because one of the stores in San Leandro stopped selling it. Plot the last supply schedule points. After you have drawn in all of the points, connect the dots, creating a NEW demand curve. Label this new supply curve S3.

Your final poster should include the following and will be graded by Illustration and description- 20 points (based on collaboration, quality of description/image) Demand Schedules D1, D2, D3-15 points (accurate, instructions followed, labeled) Demand Curves D1, D2, D3-15 points (accurate, instructions followed, labeled)

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