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- Refer to the figure below. If the price of a handbag is £60, then... Price £90 £75 £60 £45 £30 0 Handbags S there would be a shortage of 540 units. there would be a surplus of 600 units. there would be no surplus or shortage. there would be a shortage of 600 units. D 200 400 600 800 1000 QuantityNoneNone
- 1:49 Below is a table displaying the demand and supply schedules for SS cars in the market. Price ($ per Quantity Demanded Quantity Supplie unit) (units) 1 20 4 2 16 6 3 14 10 4 12 12 5 10 14 6 7 17 7 4 20 8 2 22 9 1 25 What is the equilibrium price of cars? Select one: OA. $7 OB. $2 C. $6 OD. $4 Clear my choice uzem.altinbas.edu.tr ?In this market there will be an excess supply of 1000 gardenburgers at a price of 2. If the price per garden burger is $6 there is aFrigid Florida Winter is Bad News for Tomato Lovers An unusually cold January in Florida destroyed entire fields of tomatoes and forced marry farmers to delay their harvest. Florida's growers are shipping only a quarter of their usual 2.5 million kilograms a week. The price has risen from $13.00 for a 12.5-kilogram bux a year ago in S60 now. Source: USA Today, March 3. 2010 Draw the demand curve for tomatoes and the supply curve for tomatoes in January 2009 if the equilibrium quantity of tomatoes is 200,000 boxes a week and the equilibrium price is $13 a box. Label the curvas. Draw a point to show the equilibrium quantity and equilibrium price. Label it 1. Show how the events in the news clip influence the market for tomatoes in January 2010 and decrease the quantity of tomatoes to 50,000 boxes and raise the price to $60 a box. Draw ather a new cemand curve or a new supply curve and label it. Draw a point to show the new equilibrium quantity and equilibrium price. Label it 2. se.xcF…
- 13) . Consider the following supply schedule for shoes. Price Quantity Supplied $5 425 $10 445 $15 465 $20 485 $25 505 $30 525 $35 545 $40 565 Suppose that the price of shoes increases from $25 to $30. Using the mid-point approach, calculate price elasticity of supply.m 18 of 21 > (Figure: The Demand for e-Books) Use Figure: The Demand for e-Books. What is the price elasticity of demand (by the midpoint method) when the price increases from $6 to $8? Figure: The Demand for eBooks Price $10 8 6 8+ 2.33 0.55 0.5 0.67 40 D 50 Quantity23. Using the production possibilities table below, please answer the following question: Type of Production Schools Missiles Type of Production Schools Missiles A 0 16 A 0 16 Production Alternatives If the economy were at point D, what would be the opportunity cost of building 4 more schools? 24. Using the production possibilities table below, please answer the following question: B 4 15 B 4 15 Production Alternatives C 8 12 с 8 12 D 12 7 E 16 0 D 12 7 If the economy were at point D, what would be the opportunity cost of building one more missile? Please show your calculation for full points. E 16 0
- Give typing answer with explanation and conclusionQuestion 1 The table shows market data for mobile phone kits. The original equilibrium price is GHC 23. Price GHO Quantity Quantity New demanded supplied per month per (000) 56 month (000) 7 8 9 8 7 25 24 23 22 21 9 As a result of a successful advertising campaign, demand increased by 3000 mobile phone kits at all prices. At the same time production costs fell leading to an increase in supply of 1000 mobile phone]kits at all prices. la) Calculate the new equilibrium price and quantity following the successful advertising campaign and fall in production costs. New quantity quantity demanded supplied 6 5 per month per month (000) (000) 1b) Consider the retail market for petrol. Do you believe that this market operates under conditions of imperfect competition? Explain with reasons for your answers. 1c) Suppose a producer sells 1,000 units of a product at GHC5 per unit one year, 2,000 units at GHC8 the next year, and 3,000 units at GHC10 the third year. Is this evidence that the law of…Only typed solution
