4. Data on rice sales in the Wonokromo market are as follows: Hari Price (rupiah) Quantity requested (units) Monday, April 3, 2022 7500 450 quintals Tuesday, April 4, 2022 8200 420 quintals
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- 6. Individual and market supply Suppose that Hubert and Kate are the only suppliers of pizza slices in a particular market. The following table shows their weekly supply schedules: Price Hubert's Quantity Supplied Kate's Quantity Supplied (Dollars per slice) (Slices) (Slices) 1 2 4 9. 12 4 7 14 5 8 15 On the following graph, plot Hubert's supply of pizza slices using the green points (triangle symbol). Next, plot Kate's supply of pizza slices using the purple points (diamond symbol). Finally, plot the market supply of pizza slices using the orange points (square symbol).Module 5 Homework i 2 eBook Refer to the figure. Price (dollars) 10 8 7 4 3 2 1 0 Market for Artichokes 50 100 D 150 S 200 Quantity (pounds of artichokes) 250 Tools PS Saved Ⓡ The graph represents the market for artichokes (in pounds per week) at a Midwest farmers' market. Suppose the equilibrium price of artichokes is $3 per pound and the equilibrium quantity is 100 pounds of artichokes per week. Using the graph, show the area representing producer surplus in this market, and then determine how much producer surplus will be generated by the market each week. Instructions: Use the tool provided “PS” to illustrate this area on the graph. Producer surplus: Help Save &How do i calculate the equilibrium price and equilibrium quantity Price Quantity Supplied Quantity Demanded $500 5,000 500 450 4,000 750 375 3,000 1,250 250 2,000 2,000 135 1,000 2,500
- Figure: The Demand and Supply of Wheat Price (per bushel) $10 9 8 7 6 5 4 3 2 1 0 Reference Ref 3-6 2 B. $5: 5,000 C. 56; 7,000 D. $8; 8,000 4 8 10 12 Quantity of wheat (thousands of bushels per period) 6 (Figure: The Demand and Supply of Wheat) Look at the figure The Demand and Supply of Wheat. If there is an increase in demand of 2,000 bushels at each price, the equilibrium price and quantity will be and bushels, respectively. A. $7; 7,000If the demand for Halloween candy is increasing and the number of sellers selling the candy is also increasing by more than the demand, then what will happen to price and quantity sold of candy in October as compared to September: Think about Supply and Demand when answering question, there is No opinion needed here. : A. Price of the candy will be higher and amount of candy sold is higher. B. The price will be same in October and September and quantity sold will be less. C. The price will be lower and quantity sold is higher in October than in September. D. The price will be higher and quantity sold will be the same as previous month of September. E. There is More information needed, to determine what happens to the Price and quantity sold .(Price Elasticity of Supply) Calculate the price elasticity of supply for each of the following combinations of price and quantity supplied. In each case, determine whether the supply is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic. a. Price falls from $2.25 to $1.75; quantity supplied falls from 600 units to 400 units. b. Price falls from $2.25 to $1.75; quantity supplied falls from 600 units to 500 units. c. Price falls from $2.25 to $1.75; quantity supplied remains at 600 units. d. Price increases from $1.75 to $2.25; quantity supplied increases from 466.67 units to 600 units.
- 3. Market for hamburgers, what happens to supply and demand? 1. Price of chicken sandwiches (a substitute) increases Demand shifts to right 2. Price of French fries (a complement) decreases Demand for hamburgers shifts to the right 3. Price of hamburgers decrease Quantity demanded increases 4. Cockroaches found in multiple restaurants Demand decreases (shifts to the left)13. Suppose over the next several years the level of income and wealth rises in the state of Florida. For the housing market this would mean: An increase in the quantity of houses demanded, rising prices and an increase in supply. An increase in the demand for houses, rising prices and an increase in quantity supplied. An increase in the quantity of houses demanded shortages and higher prices. A decrease in the quantity of houses supplied as demand increases. Price gouging in this market would be rampant.(Figure: Demand and Supply of Sugar) Use Figure: Demand and Supply of Sugar. A factor that may have shifted the supply from S₁ to S₂ is: Price (per pound) $50 40 40 30 25 20 15 10 0 100 200 S₁ $2 D 500 600 300 400 Quantity of sugar (per month) better technology in the production of sugar. increased demand. lower labor productivity in sugar production. increased prices of substitutes in the production of sugar.
- LGlve Ust O Hint Question 15 of 24 Check Answer The table shows the demand and supply for cocoa beans in two countries: Cameroon and Nigeria. Use the information in the table to answer the questions. Price ($) per pound (lb) of cocoa beans Price ($/lb) Cameroon quantity Cameroon quantity Nigeria quantity Nigeria quantity demanded (lb) supplied (lb) demanded (lb) supplied (Ib) 180 500 155 210 200 460 180 180 6. 250 410 200 160 5. 4 280 360 220 140 320 320 240 125 3 350 280 260 115 What would be the equilibrium price and quantity in Cameroon and Nigeria if free trade existed between the two countries? lb I quantity demanded, Cameroon: price, Cameroon: lb quantity demanded, Nigeria: price, Nigeria: %24 %24(Figure: The Supply of Apple TV Rentals) Use Figure: The Supply of Apple TV Rentals. An increase in the price of online movie rentals would result in the change illustrated by the move from: Price of Apple TV rental 0 Price of Apple TV rental n (a) Quantity (per period) (c) Quantity (per period) Price of Apple TV rental Price of Apple TV rental. 0 (b) S₂ S₁ Quantity (per period) (d) Quantity (per period)36. (Figure: The Supply of DVD Rentals) Figure: The Supply of DVD Rentals A Rental price of DVDs Rental price of DVDs 0 Rental price of DVDs H²H Quantity (per period) C Rental price of DVDs B 0 Quantity (per period) Ꭰ S₁ شہر 0 Quantity (per period) 0 Quantity (per period) Look at the figure The Supply of DVD Rentals. A decrease in the price of DVD rentals would result in a change illustrated by the move from: u to v in panel D. s to t in panel C. p to q in panel B. n to o in panel A.