1. Activity is individual
2. Plagiarism of any means will be report and will lead to reduction of weight age.
Max. Marks: 5.
Q.1 = Using the data below:
A= Find out the Quantity demanded by the Market
B= Draw the Demand Curve for each Buyers

P QD1 QD2 QD3 QDM
5 60 55 70
10 50 50 65
15 40 45 60
20 40 30 55
25 20 35 50
30 10 30 45
35 5 25 40

Q.2 = Using the data below:
A= Find out the Quantity Supplied by the Market

B= Draw the Supply Curve for each Suppliers
P QS1 QS2 QS3 QSM
5 5 25 70
10 10 30 65
15 20 35 60
20 55 40 30
25 40 45 50
30 50 50 45
35 60 55 40

Q.3 = Using the data from Q.1 & Q.2 above:
Draw the market demand and the market supply curves and show the equilibrium between
the demand and supply .

Q. 4 = Show with the help of diagrams the effects of the changes either in demand or in supply
on the market equilibrium :
1) €“ A change in demand (decrease & increase) with no change in supply.
2) €“ A change in Supply (decrease & increase) with no change in demand.
3) €“ A change in demand and supply moves in the same direction (increases & decreases)
4) €“ A change in demand and supply moves in the opposite direction
(increases & decreases)

Suppose we are analyzing the market for oranges in 2017. Graphically illustrate the impact of each of the following events would have on supply and demand curves. Also show how equilibrium price and quantity would change in each scenario. See instruction video, “Week 2_Homework Guideline.ppsm”. Make sure you provide narrative discussions on each scenario to receive full credits

A. In 2017, Wildfires destroyed a majority of orange farms, reducing orange production substantially (minimum words requirement: 100 words)

B. The price of apple, orange substitute, decreased in 2017.

(minimum words requirement: 100 words)

C. The price of orange in 2018 is expected to rise dramatically compared to 2017

(minimum words requirement: 100 words)

D. The United States Census Bureau reported that household income dramatically increased in 2017

(minimum words requirement: 100 words)

Note that you must submit everything (discussions and graphical analysis) in one word or pdf document, otherwise, I will return your assignment. Separate files or documents will not be accepted.