atora2funky4u
contestada

This year is expected to be a great one for selling walk shoes in Georgia. At very low prices, only the most efficient shoemakers are able to sell. There are two shoe producers that operate with the most cost-effective equipment and skilled personnel, each of which can put 1000 shoes in the market at $10. At a higher price, eight more shoemakers will enter the market. Each producer makes 12000 shoes at $25 per pair. If the price goes to $40 per pair, the existing firms increase production to 1400 each, plus four small shops open, each of which produces 500 shoes. Graph the supply curve.

Respuesta :

Edufirst
All that information gives you three points to make the graph.

Point 1:

At the price of $10, the offer is 2*1,000 shoes => (10, 2,000)

At the price of $25, the offer is 10*1,200 shoes => (25, 12,000)

At the price of $40, the offer is 10*1400 + 4*500 => (40, 16,000)

Then you have three points. You can check that their are not aligned because when you increase the price $15 from 10 to 25 the offer increases in 10,000 shoes; but when you increase the price $15 from  25 to 40, the offer increases 4,000.

To draw the grpah:

- use a perpendicular coordinate system with the price in the horizontal axis and the offer in the vertical axis,

- lable the horizontal axis with the prices from 10 to 50 and the vertical axis with the offers from 1,000 to 18,000.

- draw the three calculated points (10; 2,000) , (25; 12,000) and (40; 16,000)

- draw a curved line that passes through the three points.

Ther you have the graph.

In economics terms, the supply curve is the curve that represents the relationship between the price snd the quantity of the goods and services consumed. The vertical axis of the graph shows the product price and the horizontal axis shows the quantity of the product consumed.

The information that gives the basic points for the construction of the graph:

Point 1:

[tex]\text{At the price of \$10, the offer}= 2\times1,000\: shoes == (10, 2,000)[/tex]

[tex]\text{At the price of \$25, the offer} = 10\times1,200 \:shoes = (25, 12,000)[/tex]

[tex]\text{At the price of \$40, the offer} = 10\times1400 + 4\times500 = (40, 16,000)[/tex]

The points are not aligned because the increase in the price of $15 from 10 to 25 the offer increases in 10,000 shoes; but the increase in the price $15 from  25 to 40, the offer increases by 4,000.

To draw the graph:

  • Use a perpendicular coordinate system with the price on the horizontal axis and the offer on the vertical axis,
  • Lable the horizontal axis with the prices from 10 to 50 and the vertical axis with the offers from 1,000 to 18,000.
  • Draw the three calculated points (10; 2,000) , (25; 12,000) and (40; 16,000)
  • Draw a curved line that passes through the three points.

And the graph is paved.

To know more about the paving of the graph points, refer to the link below:

https://brainly.com/question/2804092

Otras preguntas