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- The market demand for productXis given by: \[ Q_{d}=6-1 / 2 P \text { or } P d=12-2 Q \] The market supply for goodXis given by: \[ Q_{s}=-14+2 P \text { or } P s=7+1 / 2 Q \] whereP=price per unit andQis number of units. Draw a supply-and-demand graph with these curves. 1.) Using the line drawing tool, draw the supply and demand curves. Properly label your lines. 2.) Using the point drawing tool, plot the equilibrium point. Label your point 'E'. Note: Carefully follow the instructions above and only draw the required objects. The equilibrium price is$and the equilibrium quantity is unit(s). (Enter your responses as integers.) A per-unit excise tax is imposed on suppliers of productX, and the market supply with the tax is now given by: \[ Q_{s}=-19+2 P \text { or } P s=9.50+1 / 2 Q \] Using the graph on the right, show this supply curve. 1.) Using the line drawing tool, draw the new supply curve. Label your line 'S1+tax'.1. Note: Carefully follow the instructions above and only draw…Give 3 reasons why the demand for salt is inelastic?Figure 18-6 ↑ Wage D1 Select one: $1 D2 S2 Quantity Refer to Figure 18-6. The graph above illustrates the market for bakers who make homemade breads and breakfast pastries. If the wages paid to wedding cake bakers decrease, what happens in the market for bread bakers? a. Supply decreases from S2 to S1. b. Demand decreases from D2 to D1. c. Supply increases from S1 to $2. d. Demand increases from D1 to D2.
- Question 6 Listen Consider the market for pilots. What is likely to happen to the equilibrium wage and quantity of pilots if the government enforces a lower mandatory retirement age, say from age 65 to age 62? A) The equilibrium wage and the equilibrium quantity of pilots remain the same. B) The equilibrium wage and the equilibrium quantity of pilots rise. C) The equilibrium wage and the equilibrium quantity of pilots fall. D) The equilibrium wage falls and the equilibrium quantity of pilots rises. O E) The equilibrium wage rises and the equilibrium quantity of pilots falls. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Ob O C PRICE Od P₁ 0." P₂ P₁ P3. P2. Þ P4 B D LL Refer to Figure 7-9. The equilibrium price is a P₁. G O H Q₂ QUANTITY Supply Demandd) Assume instead there is an increase in the price of tin, a major input in producing gadgets. Whatwill be the effect of an increase in the price of tin on the market for gadgets?
- Many automobile manufacturers are finding that the costs of batteries used in making electric cars are becoming less expensive. Based on this information, in the market for electric cars the supply curve would shift _______ causing the equilibrium price to _______. a. left, increase b. left, decrease c. right, decrease d. right, increase1. What is the equilibrium price? What is the equilibrium quantity? Suppose P_c goes up to 14. New equilibrium price? New equilibrium quantity?D Pregunta 16 What is the difference between a shift in the demand curve and a movement along the demand curve? A shift is a reaction to a movement along the demand curve. A shift implies a change in the whole demand curve; a movement does not. A shift conveys a change in the opportunity cost; a movement does not. A shift creates a new equilibrium price; a movement creates a new equilibrium quantity.
- What will happen to the demand curve if: -the wage rate declinesThe following graph shows the annual market for Florida oranges, which are sold in units of 90-pound boxes. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Florida Oranges 50 45 I Price (Dollars per box) 15 40 Supply Quantity Demanded Quantity Supplied (Millions of boxes) 174 126 35 (Millions of boxes) 30 25 20 Demand 15 10 30 60 90 120 150 180 210 240 270 300 QUANTITY (Millions of boxes) In this market, the equilibrium price is $ per box, and the equilibrium quantity of oranges is million boxes. PRICE (Dollars per box)Question 39What would be the demand load for all of these items? (Show all ofyour calculations in your word-processing document.)
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