1.Suppose the wahes of author rises drastically and the number of school children decrease
(i) Explain why the supply and the demand for textbooks would be affected by these changes.
(ii) With the aid of diagram, explain under what condition the price of textbook would decrease.
**Please use ENGLISH to give the answer.
F.4 Econ
2008-11-21 6:07 am
回答 (1)
2008-11-22 2:09 am
✔ 最佳答案
Ans 1)The rises in the wages of author will increase the cost of the textbook. Generally, the price of the textbook will be increased, too.
The decrease of the no. of school children will drive down the Demand for textbook. .
Ans 2)
When the price of the product increased(Textbook), the Supply curve will move UPWARD (In the graph, you should write the the original supply curve with S1, while new supply curve with S2).
The Demand curve will move DOWNWARD.
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