Microeconomics is the social science that studies the implications of human action, specifically about how those decisions affect the utilization and distribution of scarce resources

1. GROUP MEMBERS :
ABDUL AWAL PAPPU 161-11-4998
JAHIDUL ISLAM 161-11-4973
KHADIJA AKHTER 161-11-5001
NADIA AKTER 161-11-4968
MD NAHIDUL ISLAM 161-11-5000
Micro Economics
Topic : Market Equilibrium

2. Case study 1 :
 A) If wages rate of worker of dairy firm increases :

3.  Axis
 Equilibrium point
 Influences of increasing wages rate
 Supply curve shifting to left
 Price increases from P* to P1

4. B) The price of low fat milk rises.

5. B)
 Axis
 Equilibrium point
 Influences of increasing price of low fat milk
 Supply curve shifting to right
 Price decreases from P* to P1

6. C) THE PRICE OF CREAM RISES:

7.  Axis
 Equilibrium point
 Influences of Increasing price of cream
 Supply curve to shifting to right
 Price decreases from P* to P1

8. d) Dairies want to increase expected price next
year

9. d)
 Axis
 Equilibrium point
 Increasing of expected price next year
 Supply curve shifting to left
 Price decreases from P* to P1

10. e) A new technology lowers the cost of producing ice
cream

11. e)
 Axis
 Equilibrium point
 New technology involve and production increase of ice cream
 Supply curve shifting to right
 Price decreases from P* to P1

12. Case 2
 Both price and demand of jewelry will increase

13. Case 2
 Axis
 Equilibrium point
 Enhancing of both demand and price of jewelry
 Both demand and supply curve shifting to right
 Price is constant

15. Case 3
 Axis
 Equilibrium point
 Both supply and demand decreases
 Supply and demand curve shifting to left
 Price is constant