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Author Question: Consider the collectors' market for first editions of two popular children's books, Harry Potter and ... (Read 84 times)

DelorasTo

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Consider the collectors' market for first editions of two popular children's books, 
Harry Potter and the Order of the Phoenix by J. K. Rowling and 
Ruby in the Smoke by Philip Pullman. Sales of the Harry Potter novel are much greater than sales of 
Ruby in the Smoke yet the price of the Harry Potter novel is much lower than the price of Pullman's novel. 



a. On one large diagram, draw a demand and supply graph for first editions of 
Harry Potter and the Order of the Phoenix and another demand and supply graph for first editions of 
Ruby in the Smoke.  

b. Show how it is possible for the price of the Harry Potter novel to be much lower than the price of Pullman's novel, even though the demand for the Harry Potter novel is much greater than the demand for 
Ruby in the Smoke.

c. Provide a written explanation to accompany your graphical illustration.



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Marked as best answer by DelorasTo on Mar 15, 2019

Liamb2179

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DelorasTo

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Reply 2 on: Mar 15, 2019
Wow, this really help


pratush dev

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Reply 3 on: Yesterday
:D TYSM

 

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