New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here


by: Darina Rybchenko

Project ECON 215-01

Darina Rybchenko

Principles of Economics: Microeconomics
Natalie Gray

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Supply and Demand Project
Principles of Economics: Microeconomics
Natalie Gray
75 ?




Popular in Principles of Economics: Microeconomics

Popular in Economcs

This 0 page Bundle was uploaded by Darina Rybchenko on Wednesday March 23, 2016. The Bundle belongs to ECON 215-01 at a university taught by Natalie Gray in Spring 2016. Since its upload, it has received 16 views.


Reviews for Project


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 03/23/16
SUPPLY AND DEMAND ANALYSIS I Creating Supply and Demand Table Question 1 i 1El 391 3919 2 3915 3 391 4 4 3915 E 5 3915 i 3914 E T 3913 4 E 3912 E 3911 E 3911 9 3912 3912 E 3914 3913 3915 3914 B 3915 3915 5 3915 4 391 El 3913 E E 3919 1 E We have an income 20 While the price is 10 the equilibrium quantity and equilibrium price are also 10 It means that having data of price 10 quantity supplied and quantity demanded are equal to 10 PFICE VS Quantity 25 Price Qd Q5 5 1D 15 2D 25 3D Quantityr Question 2 l 3914 1 1 13 a E 3912 3 3911 4 4 1 2 5 a l a a a r r 4 a 5 a m 4 m 3911 a 3912 412 2 3914 413 391 3915 3914 l 3915 415 1 m 415 a E 41 a 4 3913 4 E 419 45 a 5 In this condition the income has fallen to 14 When the price is 8 the equilibrium quantity and equilibrium price are 6If the data has the price of 8 quantity supplied and quantity demanded are equal to 6 Price US Quantity 25 Price iFQd iP Q5 U 5 10 15 20 25 30 Quantity Question 3 El E 1 391 E 2 E 3 E 41 4 E E E El 1 E E Tquot 3919 4 E 3913 9 391 E 391El 3915 391El 3911 3915 3912 3913 3913 3915 14 12 3915 3915 11 E 3915 391 E 391 E E 3913 E E 3919 E u Now we have an income of 26 Having the price of 12 the equilibrium price and equilibrium quantity are 14 Thus if the price is 12 the quantity demanded and the quantity supplied are both 14 Chart Title 25 Price iFQd Q5 5 10 15 20 25 30 Quantity 1DVD sales are sliding because more consumers are watching content digitally Article bloombergcomnewsarticles20150 1 06usdVdsalescontinuetoslideasdigital Viewingsoars Part II Article Analysis This involves two markets Market What Demand Supply Curve Shift Equilibriu changed In DVDs Demand Decreases The same Demand to Equilibrium the left price goes down Equilibrium n11 antifv Digital Demand Increases The same Demand to Equilibrium Content the right price rises Equilibrium quantity increases Market for DVDs and Digital Content all I Fquot 1 I I I I I I 391 I 555555555555 M D la ENDS FE Fquot 1 1 ill 12 igital content 2 Drought and demand from Arby s creates a brisket shortage the article also mentions the increase in the popularity of brisket Article cbsnewscomnewsbrisketshorta ehastexasbarbecueloversfacin C1 Market W Demand Supply Curve shift Equi hat libri Brisket Supply and Increases Decreases Demand to Equilibrium Demand the right price rises Supply to the Equilibrium left quantity is Ma rket for Briskets 1L 39 52 V i I 51 illlllllll lll lll m 3 There is an oversupply of oil from increased North American and Saudi Arabian production Article businesstodayintodayinstoryoilpricesbrentcrudeextendslossonsupplyglutj an 141214565html Market W Demand Supply Curve Shift Equilibri ha um price Gasoline Supply The same Increases Supply to the Equilibrium right price decreases Pnnilihrinm Fquot 1 FE Market For Gasoline 51L EEEEEEEEEEEEEEEEEE 39H39 D EI M 4 New cage laws for chickens decrease the number of chickens and therefore the number of eggs Market What Demand Supply Curve Shift Equilibriu changed rn Eggs Supply and Increase Decrease Demand to the Equilibrium Demand right price rises Supply t0 the Equilibrium left quantity Market for Egg Article timecom3666765movietheatersticket 5 Movie ticket prices increase ricesbOXofficerevenuesummer Market What Demand Supply Curve shift Equilibriu changed m Movie tickets Price Movement Eouilibrium Market for Movie tickets In I 6 Piano stores close down as fewer young people are taking up the instrument The article also mentions that technology has improved so that pianos last longer Article lehighvalleylivecommusicindeXssf20l5Olpiano stores closing sales pluhtml Market What Demand Supply Curve Shift Equilibriu changed m Pianos Demand and Decreases Increases Demand to the Equilibrium Supply left price Supply to the decreases right Equilibrium quantity is Market for Piano I I I I Illllvl llli VA 52quot r i i i i i i i i i 2 i i 39 um Ir 7 Consumers become more health conscious and reduce their consumption of donuts Market What changed Demand Supply Curve Shift Equilibriu rn Donuts Demand Decreases No changes Demand to the left Equilibrium Price goes down Equilibrium n1 1 a n H m Market f0 Donuts 1F 8 The increase in Mexican immigrants and an increase in popularity for Mexican cuisine has resulted in greater consumption of tortilla chips Article cnncom20l5012lliVingfeattortillachiphistorytailgatingeatocracy Market What Demand Supply Curve Shift Equilibrium changed Price and Equilibriu Tortilla chips Demand Increases No changes Demand to the Equilibrium right price rises Equilibrium Market for Tortilla chips PE I I I I II I I i I I I D 1 1F 9 As the American populations is aging fast food consumption is falling Article todaycomhealtl holdfrieswereeatinglessfastfood studysays1C8463926 Market What changed Demand Supply Curve Shift Equilibriu m Fast food Demand Decreases No changes Demand to the left Equilibrium Price goes down Equilibrium Quantity Market for Fast food j iiillllllgllll lb F39 1 10 Avocados become America s favorite fruit Market W Demand Supply Curve Shift Equilibriu ha m Avocados Demand Increases No changes Demand to the Equilibrium right price rises Equilibrium Market for Avocados quot lgri llilill i39l39li l39w39 quotIf 11 Hyundai s car sales are affected by lower gas prices Article autonewsc0marticle20141202RETAILO 13 l2029993hyundaifalls4assmall cars tumble Market What Demand Supply Curve shift Equilibriu changed m Small cars Demand Decreases No changes Demand to Equilibrium the left Price goes down Equilibrium nIIQanv SUVs Demand Increases No changes Demand to Equilibrium the right price rises Equilibrium quantity Market for the Cars L H 1 V IllIllillliii Fi l E E i E i E E i r Fl ii 7 quot L EIIEIISAi39L J a E E I u d2 d1 quot39 r11 a Small cars 5W3 12 Dry weather has decreased Ghana s cocoa production by 22 from last year Market What Demand Supply Curve shift Equilibriu changed In Chocolate Supply The same Decrease Supply to the Equilibrium bars left price rises Equilibrium quantity decreases Market for Chocolate l I I I I I II I i II I i i 1 Ii l I I I ll iv l i l4 39 quot 39239 L W l 3 quot Ah Part III Article Analysis 1 Change in quantity demanded The prices for coffee had risen by 6070 Rimi Katrin Bats reported that coffee prices have been greatly increased That is why the demand on coffee fell by 20 It means that the quantity demanded became less People are buying less coffee The reason of the increasing is the growth of feedstock at the world market a 2 Change in quantity supplied The price on coffee went up The price on coffee was 6 However it was risen by 1so now it is 7 It means that the quantity supplied also went up from 25 million 30 million pounds of coffee beans if 3 Change in number of buyers of coffee Green coffee affects your weight httpWWW webmd comvitaminsSUDDementsinqredientmonol264areen 20C0ffeeaspxactiveinqredientid1264amp The sensation becomes more and more popular There is a report about the advantages of drinking green coffee Decreases appetite Increases immunity Regulates the level of sugar in the blood Tonics Advances metabolism This made the number of buyers of this type of coffee larger Consumers have found a lot of pros of drinking such a coffee that is why the demand went up 4 Change in the price of related goods The prices of the creme went U0 The latest reports show that the prices for the creme went up by 15 It means that demand of creme as well as the demand of coffee falls It means that the quantity demanded of coffee decreased Creme and coffee are complements it means that consumers buy less of the complementary good and less of this good FriSB 5 Change in consumer expectation The price for the coffee will fall by 20 The report tells that the expectations for the price of coffee are positive Analysts promised the prices of coffee to fall by 20 Thus the demand decreased as people will waiting till decline of prices It means that consumers are better to wait till the prices for coffee will be cheaper Price x Quantity 39 6 Change in income of coffee buyers High income lets people to buy more coffee The news say that people are getting higher income If a year ago the average income in Missouri state was 3000 per month so now it is 3500 The researches show that people are buying more goods Such a demand is greatly seen especially in coffee industry Now more people are willing to go to Starbucks and buy their favorite cappuccino or latte there Thus the demand in buying Starbucks coffee has increased https WZ sala rv comsala rvwiza rdla v0 uth tmss W25ta te taxra te M0 htm Price Quantity 7 Change in technology Starbucks has new coffee machines Now coffee is tastier because coffee machines were improved in Starbucks It means that less inputs are needed httpWWW starb ucks comcoffeelearnco ver W 8 Change in input prices The coffee beans are more expensive now According to the latest data the prices on coffee beans went up Now it is more expensive to produce the coffee That means that if the price of increases the costs of producing good rise Thus the supply decreased httpWWW ea ten com2 01 593925 804 9c0ffeeprices elnino 32 Pripa Quantity 9 Change In the number of sellers Starbucks is not the onlv coffee Another coffee companies are becoming more and more popular Such company as Tchibo appears among Americans It is not new but it becomes more popular nowadays It means that there are causes the changes in supply v 10 Change in producer expectations The prices on Caribou will go up Buyers can see less Caribou coffee in the shops It connects with the rising prices of it in future Nearly in a month the price on Caribou coffee will go up Price I 39


Buy Material

Are you sure you want to buy this material for

75 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Amaris Trozzo George Washington University

"I made $350 in just two days after posting my first study guide."

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.