Answer to Question #94787 in Math for rizq

Question

Marcus provides math tutoring lessons to ICON students. The amount of hours he is willing to tutor (supply) (Q) depends on the price he charges (P) in the following way: Q= 3P+2. The demand for his tutoring services is given by Q=5-2P.

If the tutor find a well paid part-time job, then

a) the supply curve will shift to the right


b) none of the above


c) the demand curve will shift to the right


d) the supply curve will shift to the left


e) the demand curve will shift to the left

Answer 1

If the tutor find a well paid part-time job, then the supply of math tutoring lessons will decrease with no change in demand, as a result the equilibrium price will increase, and the equilibrium quantity will decrease, so the correct answer is:

d) the supply curve will shift to the left.