20. Shifting Demand and Supply Curves Suppose that an increase in the demand for a particular good arises. What happens to equilibrium? Demand increases shifting the demand curve up, out, and to the right. At the original equilibrium price, excess demand exists in the market. Buyers will drive up the price to outbid other buyers for this shortage. As the price rises, quantity supplied rises. The price and quantity will continue to rise until equilibrium is reached. In a free market, the equilibrium price will adjust rather quickly.
21. Shifting Demand and Supply Curves Suppose that an increase in the demand for a particular good arises. What happens to equilibrium? Demand increases shifting the demand curve up, out, and to the right. At the original equilibrium price, excess demand exists in the market. Buyers will drive up the price to outbid other buyers for this shortage. As the price rises, quantity supplied rises. The price and quantity will continue to rise until equilibrium is reached. In a free market, the equilibrium price will adjust rather quickly. 17 Jose Vazquez - Master Presenter
22. Shifting Demand and Supply Curves Suppose that an increase in the demand for a particular good arises. What happens to equilibrium? Demand increases shifting the demand curve up, out, and to the right. At the original equilibrium price, excess demand exists in the market. Buyers will drive up the price to outbid other buyers for this shortage. As the price rises, quantity supplied rises. The price and quantity will continue to rise until equilibrium is reached. In a free market, the equilibrium price will adjust rather quickly. 17 Jose Vazquez - Master Presenter
23. Shifting Demand and Supply Curves Suppose that an increase in the demand for a particular good arises. What happens to equilibrium? Demand increases shifting the demand curve up, out, and to the right. At the original equilibrium price, excess demand exists in the market. Buyers will drive up the price to outbid other buyers for this shortage. As the price rises, quantity supplied rises. The price and quantity will continue to rise until equilibrium is reached. In a free market, the equilibrium price will adjust rather quickly.
24. Shifting Demand and Supply Curves Suppose that an increase in the demandfor a particular good arises. What happens to equilibrium? Demand increases shifting the demand curve up, out, and to the right. At the original equilibrium price, excess demand exists in the market. Buyers will drive up the price to outbid other buyers for this shortage. As the price rises, quantity supplied rises. The price and quantity will continue to rise until equilibrium is reached. In a free market, the equilibrium price will adjust rather quickly. Increase in Demand
28. “ Slides are slides. Documents are documents. They aren’t the same thing. Attempts to merge them result in what I call the ‘slideument’ .” --Garr Reynolds
35. The yearly cost of the Buick is given by C(B) = $100 + $M/20 = $100 + $7,000/20 = $450 where M is the number of miles you drive each year. The corresponding cost for the Toyota is C(T) = $600 + $M/40 = $300 + $7,000/40 = $775
47. Which one is going to reach the end of the tube faster? A. Aluminum B. Glass C. Same
48. In what year did Charles Darwin published OnThe Origin of the Species? 1859 1776 1970 1800 Trick question; Charles Darwin did not write that book. A Tale of Two Cities by C. Dickens is published. Declaration of Independence The most awesome economist is born. Larry King is born.
49. All other things equal, when the price of good X goes down people usually buy ______ of good X. a) more b) less c) the same amount d) None of the above
50. Which of this do you think is the best way to deal with the drug problem in this country? Strong enforcement to reduce supply. Legalize some (or all) drugs. Interdiction (education, free needles, etc) to reduce demand.
51. In your opinion, my English accent is: not so bad a little annoying horrible, I can’t understand anything. thick, but very sexy… Accent; what accent?
52. Which of the following prices reflect a price you would be willing to pay to see me shaving my head right here in front of the class (at the end of the poll, I will choose someone at random and that person will have to pay)? $0.00 $1.00 $2.00 $3.00 $4.00 or more
53. Incentive:I will offer a bonus of ____ if 80% of the students get the correct answer! Assuming all else is the same, when the price of bagels increase the price of cream cheese tend to ________. a) increase b) decrease c) stay the same d) increase first, then decreases.
54. Incentive:I will riffle a Starbucks gift card if 80% of you get the correct answer! Assuming all else is the same, when the price of bagels increase the price of cream cheese tend to ________. a) increase b) decrease c) stay the same d) increase first, then decreases.
Provide incentives for them not only to participate, but also to monitor each other.
Provide incentives for them not only to participate, but also to monitor each other.
What are the benefits of this problem over the previous one (asking to make a list)?Interesting and rich on context.Have them commit to one single answer.Have them work on the same problem.Have them report at the same time.How to collect information?
Provide incentives for them not only to participate, but also to monitor each other.
Provide incentives for them not only to participate, but also to monitor each other.
Provide incentives for them not only to participate, but also to monitor each other.
Give people percentage of the money of points made.ScoringEnter the number of un-scrathed choices for each row. That is your score for that row. Add for each row a 1 for correct answer and 0.5 for incorrect answer.Divide by 5 and multiply by 100 to get your average for that row.
