Name:_
Date:_
Math EXERCISES
Period:_
Supply and demand (Show all Work)
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1. Sales of cases of soft drinks are up 20% from last year. You sold 500 cases of soft drinks during
September of the previous year. Based on current demand trends, what would the forecast be for
total sales of cases of soft drinks for this September?
2. You are trying to forecast coffee sales for the holiday season. You sold 1,500 cups of coffee
during the holidays last year, but your overall sales for coffee this year are tracking 20% behind
last year. What is a realistic total demand forecast for coffee sales during this holiday season?
3. You need a 40% increase on the sale of batteries over last month to reach your sales goal for the
quarter. Battery sales for last month totaled 700 units. How many additional batteries do you need
to sell this month to achieve your sales goal?
4. Below is the demand and supply for wine grapes from a major wine-producing region.
Price
(Per Ton in $)
$40
60
80
100
120
140
160
180
200
Quantity Demanded
(Tons per Month)
2000
1800
1600
1400
1200
1000
800
600
400
Quantity Supplied
(Tons per Month)
500
600
700
800
900
1000
1100
1200
1300
a) There will be a shortage of grapes at any price [above/below] _______ a price of $ ________.
b) There will be a surplus of 300 tons when the price is $ _________.
c) At a price of $60, there will be a [surplus/shortage] __________ of _____________ tons.
d) Assume that the government decides to help wine consumers by putting a ceiling of $100 per
ton on grapes. What would happen?
e) Assume that the government decides to help grape growers by legislating a price floor of $180
per ton. What would happen?
f) If the government were to impose a price ceiling of $160 per ton, what would happen?
g) Using the data in the table, graph the quantities demanded and supplied to show a Demand
curve, a Supply curve, and the Equilibrium point. See example