exercises due: calendar week 40 (first lesson of the week)
A. supply and demand
Exercises on supply and demand
As a producer of washing mashines, you analyse the market situation for washing mashines. Two months ago, the demand for washing mashines was 30 000 mashines that were sold for an average of 9 000 €/per mashine. In total, 90 000 mashines were offered.
Last month, a total of 50 000 mashines was offered. All of them were sold for an average of 5 000€/ per mashine. In addition to that, 10 000 mashines were ordered in advance.
Which of the following market situations is the correct analysis for two months ago and which is the correct analysis for last month (explain)?
|market situation||total turnover (Umsatz)||development of the prices|
|1. Shortage||290 Mio €||rising|
|2. Surplus||270 Mio €||falling|
|3. Surplus||270 Mio €||staying the same|
|4. Shortage||520 Mio €||falling|
|5. Surplus||250 Mio €||staying the same|
|6. Shortage||250 Mio €||rising|
Draw a supply - demand chart of the market situation and analyse what the equlibrium is (round about).