Consider the market for minivans. For each of the events listed below, draw a diagram separately to show the effect on the price and quantity of minivans. Please state exactly what will happen to the equilibrium price and quantity. Remember that it is important to identify which side of the market (demand or supply) is affected and what is direction of the shift. Please be clear in your answers. a) People decide to have more children. b) A strike by steelworkers raises the price of steal. c) Engineers find a new automated machinery. d) The price of midsize cars increases. e) A stock market crash lowers people's wealth.

Q: Because some college majors pay nearly twice as much as others, why would students pursuing their…

A: Some of the college majors pay nearly twice as much as others, then also some of the students…

Q: I need help in solving this question because I'm not sure it's right?

A: The United State federal government passed the American Recovery and Reinvestment Act in 2009 was to…

Q: can you please explain this a bit more? I am having difficulty following your math.

A: A production function in economics is a mathematical equation that describes the relationship…

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: heeds to make an additional repair, which will cost another $400, in order to make the guitar worth…

A: here we can find the answer of given question by following method given below;

Q: What factors commonly influence a person’s daily buying choices? Select one of these and explain how…

A: These are the factors which influence a person’s daily buying choices: The income of the consumer:…

Q: there is two answers, what is the other one?

A: Increasing the economy also raises the standard of living. The current standard of living must be…

Q: What do you understand by emotional labor and emotional managemen

A: In economics, labor refers to the human effort, time, and skill that is used to produce goods and…

Q: I need to understand how to come up with the answers for the table. This explanation does not help…

A: Equation of a budget line is given by: Income = Px*X + Py*Y Where Px is the price of Good X and X is…

Q: I asked this question but didn't receive a response. How do I answer this? I believe my answer is…

A:

Q: Why would someone disagree with your preferred preference?

A: Preferences refer to an individual's or society's subjective rankings or choices regarding various…

Q: can i have an explanation for each answer

A: Total Cost: Total Cost is computed through the formula that is, Total Cost = Fixed Cost + Variable…

Q: How can we simplify the decision-making process?

A: A business cannot take the decision making process lightly as the entire business relies and acts on…

Q: I have placed every visual near the place I write about it. The reader can see the visual without…

A:

Q: Could you please give me full detailed answer?

A: A pizza company runs its business in a franchisee mode and has decided to conduct a $1 promotion for…

Q: Find Katie’s optimal amount of consumption and leisure.

A: The optimal amount of consumption and leisure varies individually, hinging on preferences, needs,…

Q: How much is steve willing to pay for one bag of potato chips?

A: Demand refers to the willingness and ability of the consumer to pay for goods and services.

Q: you have $84.25. you get additional money for mowing lawns. then you purchase a new pair of shoes…

A: Marginal revenue is defined as the additional revenue earned by an individual when he sells an…

Q: Can you answer me as soon as possible urgent . In early April, Mr Chan went for a five-day trip in…

A: Answer a.  The purpose of travel of Mr Chan is to explore Singapore in five days and to visit only…

Q: Rational decision-making will likely generate a better "economic" outcome vs. emotional…

A: In economics, there is a basic assumption that consumers are rational in their decision making. This…