Draw hypothetical supply curve for long-stem roses

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Reference no: EM131163021

a. Draw a hypothetical supply curve for long-stem roses on Valentine’s Day. Label your graph completely.

b. The price of a dozen long-stem roses on Valentine’s Day often tops $80, while on any other day the price is closer to $50. Of course, many more roses are sold on Valentine’s Day than on any other day. True or False: The supply of roses increases on Valentine’s Day?

c. Explain your answer in part B, and demonstrate your explanation on a new graph of the supply of roses. orists increase their supply of roses on Valentine’s day, why might higher prices convince florists to increase the number of roses they offer for sale? Give a specific example of a hypothetical cost increase faced by florists as they offer more roses for sale.

d. More roses are supplied on Valentine’s Day than on any other day of the year. If florists increase their supply of roses on Valentine’s day, why might higher prices convince florists to increase the number of roses they offer for sale? Give a specific example of a hypothetical cost increase faced by florists as they offer more roses for sale.

Reference no: EM131163021

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