Problem

Table 3.9 illustrates the market's demand and sup…

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Problem 54 Hard Difficulty

The computer market in recent years has seen many more computers sell at much lower prices. What shift in demand or supply is most likely to explain this outcome?
Sketch a demand and supply diagram and explain your
reasoning for each.
a. A rise in demand
b. A fall in demand
c. A rise in supply
d. A fall in supply

Answer

Shows an increase in supply which would lower price. Supply curve shifts to the right.

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Principles of Microeconomics for AP® Courses

Chapter 3

Demand and Supply

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Video Transcript

All right, We're doing problem number 54 from chapter three. That's saying the computer market in recent years has seen many more computers. Cell at much lower prices. What? Shift in demand? Er supplies. Most likely to explain this outcome. Sketch a diagram in supply. Sorry. Schedule. Demand supply diagram and explain the reason for each. So they're asking is it a rising demand? A phone demand, a rising supply. Our phones? Why? So what we got from the question is that quantity has increased, uh, and price decreased. So we're gonna shit. We're gonna We're gonna, um We're going to sketch each of these shifts, and we're gonna see which one corresponds to that. So up here is price y axis quantity on the X supply demand. Here's our equilibrium. Okay. Cool. Um, so first is a rising demand. Well, if we see you demand shift, we see that price and quality go up. It cannot be that if we see a fallen demand. Well, price and quantity both go down. Can't be that either. A rise in supply. Now, there we go. Quantity goes up and price goes down. Uh, and just for good measure, let's try D a phone supply. Everything the opposite about price goes up, quantity goes down, so the answer is, See arrives in supply is

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Steven A. Greenlaw, David Shapiro, Timothy Taylor

Principles of Microeconomics for AP® Courses

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Introduction

How Markets Work

Markets and Welfare