Consider the following events: Scientists reveal that consumption of oranges decreases the risk of diabetes, and at the same time, farmers use a new fertilizer that makes orange trees more productive. Illustrate and explain what effect these changes have on the equilibrium price and quantity of oranges

Q: Market research has revealed the following information about the market for chocolate: demand…

A: Below is the given information: Qd = 1600 - 300PQs = 1400 + 700P

Q: The price of tennis shoes is shown to depend on the price of rubber. Which of the following…

A: Answer: Correct answer: option 4 (An increase in rubber price potentially causes an increase in…

Q: The figure above shows the demand for fruit snacks. Which movement reflects how consumers would…

A: Demand curve depicts the relationship between price and quantity demanded.

Q: Assume there is an increase in the price of electricity (which is the result of a decrease in the…

A: Substitute good can be used in the place of another good. In the case of substitute goods, an…

Q: ↑ The following table gives data on the price of rye and the number of bushels of rye sold in 2020…

A: CPI is the consumer price index. The CPI is used to calculate the inflation rate. The CPI is…

Q: The following graph presents the market for bikes in 2015. Between 2015 and 2016, the equilibrium…

A: Equilibrium is where the demand curve intersects the supply curve.  Decrease in quantity will be…

Q: Consider the following events: Scientists reveal that eating oranges decreases the risk of diabetes,…

A: Equilibrium in the market is achieved by the interaction of demand and supply curve . It determines…

Q: The price of peanut butter, a complement to jelly, decreases. How will this affect the equilibrium…

A: The demand and supply of any commodity is not onlu affected by its won price but also due to other…

Q: Suppose Jermaine and Tim are the only people in the market. The curve DJ is Jermaine's demand curve…

A: Market demand refers to the total demand for a product or service in a market. It is the sum of…

Q: In each of the following situations, list what will happen to the equilibrium price and the…

A: ANS1) If technology advances then the production will increases as a result the supply curve will…

Q: What would happen to the equilibrium price of remote-controlled drones if the price of batteries…

A: The two related goods can be either substitutes or complementary. Change in price of one good…

Q: Price 32 30 28 26 24 22 20 18 16 14

A: We need to find out equilibrium point,

Q: Show the impact of the decrease in the price of chicken by shifting the demand curve on the…

A: A demand curve is a graphical representation of the relationship between the price of a good or…

Q: If the supply of tennis balls, a complement to tennis racquets, decreases, what will happen to the…

A: If the supply of tennis balls decreases, the equilibrium price of tennis balls increases and the…

Q: The figure below illustrates the market for pumpkins just before the harvest for Halloween.…

A: An elastic demand is one in which the change in quantity is demanded due to a large change in price.…

Q: For each of the following changes in the market for apples, explain why demand will increase,…

A: 1.  Here Apples and peanut butter are complimentary goods.  Complimentary goods : These are those…

Q: uppose the price of apples (a complement to peanut butter) rises.  At the same time, suppose the…

A: Complement: Two goods are considered complements when they are consumed together or in conjunction.…

Q: Consider two markets: the market for cat food and the market for dog food. The initial equilibrium…

A: Price elasticity of supply measures the responsiveness of change in quantity supply to change in…