Price(dollars per pound) Quantitysupplied(pounds) Quantityde…

Price(dollars per pound) Quantitysupplied(pounds) Quantitydemanded(pounds) 3 1 7 4 2 5 5 4 4 6 5 2 7 6 1 The above table shows the demand schedule and supply schedule for chocolate chip cookies. An increase in income results in an increase in the demand for chocolate cookies by an amount of 3 pounds at every price. What are the new equilibrium quantity and equilibrium price?

Exam 1 consists of 45 multiple-choice questions and covers l…

Exam 1 consists of 45 multiple-choice questions and covers lessons 1-4.You have 75 minutes to complete the examYou may use 2 sheets of blank paper (No notes)You may use a basic 4-function calculatorThe exam will not shut down after 75 minutes, but you are expected to compete the exam within this time frame unless there are technical issues noted by your proctor. 

       ​Blue Violet Production Possibilities​Blue Violet Pro…

       ​Blue Violet Production Possibilities​Blue Violet Production Possibilities​Sweet Pansy Production Possibilities​Sweet Pansy Production Possibilities Teapots(numberper week) Coffeepots(numberper week) Teapots(numberper week) Coffeepots(numberper week) 150 0 150 0 100 25 100 50 50 50 50 100 0 75 0 150Two countries, Blue Violet and Sweet Pansy, produce only two goods: teapots and coffeepots. The table above gives their production possibilities.