Macroeconomics
Assignment 1: Demand Illustration

Market Subject Blueberries Cultivated/ Produced
Price Per Pound ($) Quantity Demanded Per Year (lbs)
$5.10 2
$4.60 3
$4.10 4
$3.60 5
$3.10 6
Personal Demand:
Market Demand:
Price Per Pound ($) Quantity Demanded Per Year(lbs)
$5.10 170,000,000
$4.60 180,000,000
$4.10 190,000,000
$3.60 200,000,000
$3.10 210,000,000
Increase in Demand:
Price Per Pound ($) D1 (before income rises) Quantity Demanded Per Year D2 (after income rises) Quantity Demanded Per Year $5.10 170,000,000 lbs 200,000,000 lbs
$4.60 180,000,000 lbs 210,000,000 lbs
$4.10 190,000,000 lbs 220,000,000 lbs
$3.60 200,000,000 lbs 230,000,000 lbs
$3.10 210,000,000 lbs 240,000,000 lbs
Price Per Pound ($) D1 (before price of subs. falls) Quantity Demanded Per Year D2 (after price of subs. Falls) Quantity Demanded Per Year $5.10 170,000,000 lbs 140,000,000 lbs
$4.60 180,000,000 lbs 150,000,000 lbs
$4.10 190,000,000 lbs 160,000,000 lbs
$3.60 200,000,000 lbs 170,000,000 lbs
$3.10 210,000,000 lbs 180,000,000 lbs
Decrease in Demand:
One Firm’s Supply:
Price Per Pound ($) Quantity Supplied Per Year(lbs)
$5.10 170,000 lbs
$4.60 180,000 lbs
$4.10 190,000 lbs
$3.60 200,000 lbs
$3.10 210,000 lbs
Market Supply:
Price Per Pound ($) Quantity Demanded Per Year(lbs)
$5.10 210,000,000
$4.60 200,000,000
$4.10 190,000,000
$3.60 180,000,000
$3.10 170,000,000
Increase in Supply:
Price Per Pound ($) S1 (before tech. improves) Quantity Demanded Per Year S12 (after price of subs. Falls) Quantity Demanded Per Year $5.10 210,000,000 lbs 500,000,000 lbs
$4.60 200,000,000 lbs 400,000,000 lbs
$4.10 190,000,000 lbs 300,000,000 lbs
$3.60 180,000,000 lbs 200,000,000 lbs
$3.10...
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