Question

The chart shows a combined supply and demand schedule.

A 3-column table has 5 rows. The first column is labeled Price per Pair of Running Shoes with entries 45 dollars, 75 dollars, 100 dollars, 125 dollars, and 150 dollars. The second column is labeled Quantity Demanded with entries 100, 80, 60, 40, 20. The third column is labeled Quantity Supplied with entries 40, 50, 60, 70, 80.



According to this table, what will happen when the price of a pair of shoes rises from $100 to $125?

The cost to make a pair of shoes will rise.

A scarcity of shoes will result.

Profits from selling shoes will increase.

Consumers will want to buy fewer pairs of shoes.

Answer 1

Answer:

TA name and section number on top of the homework (legibly). Make sure ... a) What is the opportunity cost of producing the first 5 coconuts? ... 3/2 fish - From the labeled points we can construct the table shown below. Each ..... 3Q = 150 ... Consumer surplus: ½ × (125 – 65) × 30 = 900 thousands of dollars.

Step-by-step explanation:

Answer 2

Answer:

Profits from selling shoes will increase.

Step-by-step explanation:

When the price is $100, the quantity demanded is 60 and quantity supplied is 60.

When the price is $125, the quantity demanded is 40 and quantity supplied is 70.

Out of the given options, the answer is : Profits from selling shoes will increase.

Earnings when sold at $100.

$100\times60=6000$ dollars.

Earnings when sold at $125.

$125\times70=8750$ dollars.

Now as earnings increase per pair of shoes, the profit will also increase.