# Equilibrium Price

Suppose now that the invention of a better mechanical lettuce picker reduces costs. Producers are now willing to supply and quantity of lettuce for \$9 less per crate than previously. What will happen to the equilibrium price of lettuce? Will it fall by th efull \$9 amount? Explain why or why not by drawing in new suppply and/or demand curve(s) as needed. Label the new curve or curves and the new equilibrium with a subscript 2.

define

1. 👍
2. 👎
3. 👁

## Similar Questions

1. ### Science

What is the main difference between mechanical and electromagnetic waves? A. Mechanical weaves involved transfers energy; electromagnetic waves do not B. Mechanical waves require a medium to travel in; electromagnetic waves do

2. ### Science

1. Which of the following statements about mechanical waves is true? a. mechanical waves require a medium to travel through b. mechanical waves do not have amplitude and wavelength c. mechanical waves do not have frequency d.

3. ### Math

Hayden had 2 1/2 gallons of water in his watering can. The seed packet said to use 1/4 of a gallon for peppers and 5/8 of a gallon for tomatoes. Hayden then used some of the water for lettuce. If Hayden had 3/4 gallons of water

4. ### MicroEcon

The market for apple pies in the city is competitive and has the following demand schedule: Price Quantity Demanded \$1 1,200 2 1,100 3 1,000 4 900 5 800 6 700 etc... 13 0 Each producer in the market has fixed costs of \$9 and the

1. ### Science

Which of the following describes how matter moves between producers, consumers, and decomposers in an ecosystem? one-way flow from producers to consumers to decomposers one-way flow from decomposers to consumers to producer cyclic

2. ### History

Which Renaissance invention enabled Galileo Galilei to confirm heliocentric (Copernican) theory? microscope telescope mechanical clock mariners compass i think its b

3. ### English

Use the following paragraph to answer the question. While the invention of the steamboat is often attributed to American inventor Robert Fulton, credit should really go to John Fitch. Fitch built four steamboats in the late

4. ### History

Which accurately describe scientific advancements during the Renaissance? (Select all that apply.) invention of the printing press invention of the microscope invention of the telescope invention of the steam engine i think its

1. ### Economics

How does scarcity affect producers? A.) Limited costs prevent producers from hiking prices. * B.) Limited demand prevents producers from offering low prices. C.) Limited time prevents producers from finding the best employees. D.)

2. ### Science

1. Which of the following is true regarding the carbon cycle and food webs? A. Food webs and the carbon cycle are closely related because all living organisms are composed of carbon. B. Food webs and the carbon cycle are closely

3. ### Physics HW, Help Please

A turtle ambles leisurely–as turtles tend to do–when it moves from a location with position vector r1,x = 1.53 m and r1,y = -2.25 m in a lettuce garden to another location, with position vector r2,x = 3.91 m and r2,y = -4.65

4. ### Microeconomics-Consumer & Producer Suplus Graphs

Can anyone help? I am trying the draw the following graphs for Consumer & Producer Suplus. I have made several attempts and I know I am not drawing them right. 1) The cost of producing stereo systems has fallen over the past