Graph the demand and supply curve for air pods. Show the equilibrium price and quantity on the graph? What are the equilibrium price and equilibrium quantity? Remember, price goes on the y-axis and quantity on the x-axis.

I don’t know how to handle this Economics question and need guidance.

Instructions:Graphing demand and supply curves for air pods

Handling economic questions requires a structured approach and an understanding of economic principles. Here are some steps to effectively address economic questions:

1. Read and Understand the Question: Take the time to read the question carefully and ensure you understand what is being asked. Pay attention to any specific terms or concepts mentioned.(Graphing demand and supply curves for air pods)
2. Identify the Relevant Economic Concepts: Determine the economic concepts and theories that apply to the question. This may include topics like supply and demand, market structures, fiscal and monetary policy, international trade, and economic indicators.(Graphing demand and supply curves for air pods)
3. Gather Relevant Data: If the question involves numerical data or specific economic indicators, gather the necessary data from credible sources like government reports, central banks, or reputable economic research institutions.
4. Analyze the Situation: Apply the relevant economic concepts to the given information and data. Consider the cause-and-effect relationships between different economic factors. Use graphs or charts if appropriate to visualize the relationships.(Graphing demand and supply curves for air pods)
5. Consider Assumptions: Recognize any assumptions that you are making while analyzing the question. Clearly state these assumptions and their potential impact on your conclusions.(Graphing demand and supply curves for air pods)
6. Discuss Pros and Cons: When appropriate, discuss the advantages and disadvantages of different economic policies or decisions. Be objective and present a balanced view of the situation.(Graphing demand and supply curves for air pods)
7. Provide Real-world Examples: Whenever possible, support your analysis with real-world examples or case studies that illustrate the economic principles in action.(Graphing demand and supply curves for air pods)
8. Offer Recommendations or Solutions: Based on your analysis, suggest potential recommendations or solutions to address the economic issue at hand. Consider the implications of each suggestion and its potential outcomes.(Graphing demand and supply curves for air pods)
9. Cite Sources: If you reference specific economic theories, data, or research, make sure to provide proper citations and credit the original sources.
10. Keep it Clear and Concise: Present your answers in a clear and concise manner. Avoid jargon or overly complex language that might confuse the reader.
11. Stay Updated: Economics is a dynamic field, and new developments can change the economic landscape. Stay updated with the latest economic news and research to provide accurate and relevant answers.(Graphing demand and supply curves for air pods)
12. Be Honest About Limitations: Recognize the limitations of your analysis, especially if the data provided is limited or the economic situation is complex. Don’t hesitate to acknowledge uncertainties or areas where further research is needed.(Graphing demand and supply curves for air pods)

Remember that economic questions may have multiple valid interpretations and solutions, so always be open to alternative viewpoints. By following these steps, you can effectively handle economic questions and provide well-reasoned and informed answers.(Graphing demand and supply curves for air pods)

ECON 230: Week 2 Assignment:

INSTRUCTIONS (Questions need to be worked on MS Excel. Remember, price goes on the y-axis and quantity on the x-axis. Students need to show full calculations and how answers were derived for a chance at full credit. Use of Excel formulas or Google Sheets are required

• Apple collected information on the demand and supply for the air pods in California where the quantities of air pods are measured in thousands.

a) Graph the demand and supply curve for air pods. Show the equilibrium price and quantity on the graph? What are the equilibrium price and equilibrium quantity? Remember, price goes on the y-axis and quantity on the x-axis. (15points)(Graphing demand and supply curves for air pods)

b) Add another column and show the surplus and shortage numbers of air pods at all prices (5points)

c) Does this table follow the law of demand and supply? Explain.(5points)

2. Consider the supply and demand schedules below to answer the questions that follow:

(a) Graph the demand and supply curve and show the equilibrium price, equilibrium quantity demanded, and quantity supplied be? (15points)

(b) If price were $3, what would happen? (Discuss in terms of adjustment to equilibrium from the graph you provided.) (5points)

(c) If price were $8, what would happen? (Discuss in terms of adjustment to equilibrium from the graph you provided.)-(5points)

(d) If price were $5, what would happen? (Discuss in terms of adjustment to equilibrium from the graph you provided.)-(5points)

3. The table below shows the quantity demanded and quantity supplied of DVDs at each price level.

(a) Fill out the column entitled Surplus/Shortage. Show how the answers are derived using Excel formulas.- (5points)

(b) Graph the demand and supply curve and show the equilibrium price, equilibrium quantity demanded, and quantity supplied? –. (15points)

(c) Suppose that advances in technology reduced the production cost of DVD players. What happens at the original equilibrium price level calculated in Part (a)? Use the graph you created to assist with your answers-(5points)

4) Fill the table below for the GDP of the country of Iember and show times of recession and growth

• Add a column for GDP and fill the results (10points)
• Add a column showing times of recession and economic growth (10points)

References

1. The links below helps in creating a demand and supply graph for this assignment.

https://www.reference.com/technology/graph-supply-demand-curve-excel-755ed0bcee7f3807

https://www.youtube.com/watch?v=pSsFUUMojxc

http://www.sussex.ac.uk/its/help/faq?faqid=2227

https://www.excel-easy.com/introduction/formulas-functions.html

Modern Principles of Economics 4TH 18