hi , i need a help in economy assignment
Q1:Suppose that in the year 2005 the number of births is temporarily high. How does this baby boom affect the price of baby-sittingservices in 2010 and 2020? (Hint:5-year-oldsneedbaby-sitters,whereas15-year-olds can baby-sitters.)
Q2:The market for pizza has the following demand and supply schedule.
PriceQuantity DemandedQuantity Supplied
$4- 135 - 26
5- 104 - 53
6 - 81 - 81
Graph the demand and supply curves (curves are not straight lines).
2) What is the equilibrium price and quantity in this market?
3) If the actual price in this market were above equilibrium price, what would drive the price toward the equilibrium?
4) If the actual price in this market where below the equilibrium price, what would drive the price toward the equilibrium?
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