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- Can you explain this more thoroughly for meCan you explain this pleaseMany movie consumers who used to rent DVDs are now patronising online video rentals, especially, streaming services. a. What impact did the advent of online video rentals and streaming have on the in-store movie industry? Use the demand and supply diagram to illustrate your answer. State all your assumptions. b. Which would be more price elastic, the demand for Netflix online streaming or the demand for online movie rentals in general? c. Would the price elasticity of demand for online movie rentals and in-store movie rentals be positive or negative? what does yoyr answer imply for the equilibrium price and quantity of online movie rentals? Use the demand and supply diagram to illustrate your answer. d. Because of COVID-19, most people are staying indoors yet they cannot afford online streaming movies, like Netflix. Should the Government regulate the price of online streaming? discuss pros and cons of price regulation.
- a. Demand for good Q is estimated to be Q = 14 - P, where P is price. If the prices rises from P = $3 to P = $6, then the lost revenue due to the quantity effect is b. A firm selling a product Q faces a demand where Q = 24 - P, where P is price. If the firm lowers the price from P = $20 to P = $16, then the lost revenue due to the price effect isDemonstrate the welfare loss of: a. A restriction on output when supply is perfectly elastic. Graph the welfare loss of a quantity restriction equal to a maximum of Q=6. Instructions: Use the 3-point tool 'Loss' to identify the welfare loss. Click and drag each of the endpoints of the shaded area until the triangle highlights the desired region. Price 18- 16- 14- 12- 10 D 18 20 4 Lossand Elasticity The figure shows Arnold's demand curve for burritos. If the market price is $1.00, what is Arnold's consumer surplus? 3 structor O A. $1.00 OB. $2.00 OC. $3.00 O D. $7.00 E D C 4 R F V FEB 6 % 5 T G B 6 Y tv MacBook Pro H & 7 Ç N U J * 00 8 2 M Price (dollars per burrito) $2.50 A ( 9 K 2.00 1.50 1.00 O ( H L X Clear all Aa P 2 command POR 3 I Final check 1 + 11 [ ? 11 } Dem ]
- .not use ai pleaseusing the purple points (diamond symbol). Finally, plot the market demand for scented candles Using the blue points( Note: Line segments will automatically connect the points. Remember to plot from left to right. 12 10 Nick's Demand Rosa's Demand Market Demand 18 24 32 40 QUANTITY (Candles) PRICE (Dollars per candle)
- Copy of The following graph displays four supply curves (HH, II, JJ, KK) that intersect at point A. PRICE (Dollars per unit) 400 360 320 280 240 200 160 120 80 40 0 H 0 40 80 A SE H + 120 160 200 240 280 320 360 400 QUANTITY (Units) Using the graph, choose the statements that are true: Between points A and C, curve KK is inelastic. Between points A and B, curve II is perfectly inelastic. Curve KK is more elastic between points A and C than curve JJ is between points A and D. Between points A and E, curve HH is perfectly inelastic.Suppose that the government decided to subsidize bacon producers. Will this impact supply or demand? O This will impact both supply and demand causing the supply curve and demand curve to shift to the left. This will only impact supply, causing the supply curve to shift to the left. This will only impact supply, causing the supply curve to shift to the right. This will impact both supply and demand causing the supply curve and demand curve to shift to the right.California has higher income taxes than any other state in the United States. As a result, many business owners, like Elon Musk and Joe Rogan, have moved their enterprises to states with lower state income taxes. As a result, its likely that California will start to experience less tax revenue even as they increase tax rates. What concept in economics does this best illustrate? O The Law of Demand O Subsidies O Price Floors O The Laffer Curve
