Read the following and answer the questions below and on
Recent media advertising by Bear Music has made the i-teddybear an increasingly
popular educational toy for children. The firm is keen to increase profit margins by
and selling the i-teddybear to member states of
the European Union.
The diagram below relates to the UK market for i-teddybear.
Explain what is meant by the following terms:
State the equilibrium price and quantity in the above diagram when demand is
D1 and Supply is S1.
reason why supply curves usually slope upwards from left to
reasons for the shift in the supply curve for i-teddybears from
S1 to S2.
Calculate the change in total revenue for i-teddybear following the shift
in supply from S1 to S2.
Quantity demanded and supplied per day
UK Market for i-teddybear
Originally posted 2016-10-25 09:59:48.