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Dont Mock hastings it is way better than waikato

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Dont Mock hastings it is way better than waikato

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Market Supply is determined the horizontal sum of all individual supply curves and/or schedules at each price. Price increases (pe – p1), quantity supplied decreases from Qe – Q1 as profit has decreased (revnue – increased expenses = decreased profit). As the law of demand states, as price increases (pe- p1), quantity demanded decreases (Qe – Q) ceteris paribus and vice versa. The price increases as producers need more profit to get the increase in expenses. At Pe there is a shortage therefore consumers bid up the price hence we see the price increasing from P-pe. ntsAddedToday"ج~1� �

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Market Supply is determined by the horizontal sum of all individual supply curves and/or schedules at each price.  The 5% increase in staff wages has resulted in the producers cost of production to increase, meaning croissants are less profitable to produce.  At Pe there has been a surplus, producers have responded to this increasing the price of croissants in order to clear excess stock.  This has resulted in supply decreasing from S to S1.  The price has increased from Pe to P1.  The law of demand states that as price increases, quantity demanded decreases, ceteris paribus and vice versa.  This means that there has been a decrease in quantity demanded for croissants from Qe to Q1.  Because producers have raised the price of croissants, producer revenue has increased.

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Due to the fact that it now costs more for suppliers to make croisannts it is relatively less profitable for them to sell them. Therefore supply decrease from S to S1. Equillibrium Quantity decreases from Qe to Q1. Equilibrium price Increases from Pe to P1. Due to the fact that Qe has decreased and Pe has increased, it is impossible to comment on the producer’s revenue without further information. o

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Market supply is determined by the horizontal sum of all individual supply curves and schedules at each price. In this case, wages of bakery staff increase by 5%. This means bakeries cannot afford as many workers, as cost of production increases. This is shown on the graph with the shift of the supply curve to the left, which is a decrease in [supply]. As a result of the decrease in supply, the price of croissants increases and quantity supplied decreases. The price increases as producers need more revenue to cover extra costs of production. The quantity supplied decreases because producers cannot supply as many goods because of the exta costs of production