F2 2. Shifting supply and demand in the market for new textbooks Consider the market for new copies of a popular economi

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F2 2 Shifting Supply And Demand In The Market For New Textbooks Consider The Market For New Copies Of A Popular Economi 1 (54.15 KiB) Viewed 9 times

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F2 2. Shifting supply and demand in the market for new textbooks Consider the market for new copies of a popular economics textbook. The downward-sloping blue line on the following graph shows demand curve for new copies of the textbook one year after the release of the latest edition. Assume the textbook is revised on a f year cycle. Expected resale value represents the amount of money students can expect to get by selling their textbooks in the used market at the end of their course. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and the corresponding amount in the grey field will change accordingly. (Hint: Once you leave the page or select Check Answer, this calculator will reset to its initial values.) 180 150 PRICE (Dollars per textbook) 8 120 2 0 0 80 F3 98 199 300 398 499 600 000 000 F4 FS Graph Input Tool Price (Dollars per textbook) Quantity Demanded (Thousands of textbooks) Demand Shifters Expected Resale Value (Dollars) F7 $130 166.67 $60 Dil FB
PRICE (Dolars per textbook) 160 #3 150 3 120 00 8 O M 199 300 300 QUANTITY (Thousands of text 80 V E Suppose that the publisher of this textbook new textbooks demanded is approximately 300,000 54 4 800 F4 R 25 400 % 5 267,000 600 563,000 The publisher holds the price of the textbook constant at $110 over the life of this latest edition. Two years after the release of this edition, the expected resale value of the textbook falls to $45. The quantity of new textbooks demanded is now approximately per year. 300,000 233,000 FS T < 6 Graph Input Tool A Price (Dollars per textbook) 6 Quantity Demanded (Thousands of bextbooks) Demand Shifters Expected Resale Value ce of the textbook to $110, and the current resale value is $60. At this price, the quantity of per year. MacBook Air Y 87 & 7 8 $130 F7 U $60 . 8 Grade It Now DII FB ( 9 Save & Continue Continue without saving DD F9 0 0 J $10 P $11
PRICE (Dollars per textbook) 100 100 120 90 00 30 D 0 08 100 300 310 499 QUANTITY (Thousands of textbooks) 600 Graph Input Tool Price (Dollars per textbook) Quantity Demanded (Thousands of textbooks) Demand Shifters Expected Resale Value (Dollars) $130 166.67 MacBook Air $60 Suppose that the publisher of this textbook sets the price of the textbook to $110, and the current resale value is t new textbooks demanded is approximately 300,000 per year. The publisher holds the price of the textbook constant at $110 over the life of this latest edition. Two years after the expected resale value of the textbook falls to $45. The quantity of new textbooks demanded is now approximately 183,000 233,000 200,000 216,000 Grade It Now price, the quantity of this edition, the per year. Save & Continue Continue without saving