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Note: This is an economics question. *How can you use supply and
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- 2. Read the following article: Sriracha Shortage Is Taking Some Spice Out of Life.¹ Use the Supply and Demand model to explain how the event(s) in the article affected the market of "Sriracha." Your explanation must include a graph. Note: If you state that demand, supply, or both curves shift, make sure to specify which shifter led to that change. See Sample (located in the Overview page) to use as a guide for this question. Also, your graph can be computer or hand drawn.Question: What happens to equilibrium price and quantity in a market when there is an increase in both supply and demand? A) Equilibrium price decreases, equilibrium quantity increases B) Equilibrium price increases, equilibrium quantity decreases C) Equilibrium price and quantity both increase D) Equilibrium price and quantity both decreaseNeed help with homework questions relating to supply/demand d) Women have always worn trousers when performing work-related activities. In 1914, however, fashion magnate and influencer Coco Chanel turned women’s trousers into afashion staple: a garment that could be worn for formal events, as well as for merefunction. How does this affect the market for women’s trousers? Explain using a diagram. (e) In 1839, Charles Goodyear invented a new method of processing natural rubber, which eventually led to the first rubber condoms being produced in 1855. Prior to this, condoms were made of treated linens, animal bladders, or fine leather. How does this affect the market for condoms? Explain using a diagram.
- EXAMPLE QUESTION What happens to the price and quantity if the demand and supply both decrease at the same rate? EXAMPLE ANSWER/ The price stays the same and quantities decrease 1. What happens to the price and quantity if the demand and supply both increase at the same rate? 2. What happens to the price and quantity if the demand increases and supply decreases at the same rate? 3. What happens to the price and quantity if the demand decreases and supply increases at the same rate?"Cell phones have quickly become taken as much for granted as electricity or water supply. They have had a major impact on our lives and the way that we perform everyday tasks. Many of these changes are apparent, while others we may not even be aware of. People nowadays really don’t remember quite well how life was before cell phones existed!" Use the demand-supply model to illustrate the changes in the market for cell phones over the last twenty years. Try as much as possible to relate the demand-side factors and the supply-side factors we studied in class to the market under study. Although drawing graphs is not necessarily required, yet it could help you to illustrate your answer. Support your answer with relevant real-life data.ing Canvas Scan/Photograph & PDF Conversion for Upload Exercise Graphically illustrate how each of the following events, ceteris paribus, will affect the market for coffee. (Start new graph for each question.) • Your diagrams must include initial and subsequent, prices, quantities, curves, equilibriums and related movements along a curve. HE 1. The price of tea increases. 2. Coffee workers organize themselves into a union and gain higher wages. 3. Coffee is shown to cause cancer in laboratory rats. 4. Coffee prices are expected to rise rapidly in the near future. • After completing your answers, you must scan or photograph your response(s) and convert them to a pdf file for upload in Canvas. • Make sure to adjust and/or scale your scan/photograph so your intended answerts) are legible, discernible and gradable Combine all pages of your response into a single hle. File Upload Dropbox Google Deve Upload a file, or choose a file you ve already uploaded. Ofice 365
- Note: this is an economics questions Based of the 2012 case of Hurricane Sandy, *how can the market forces of supply and demand be applied to analyze other similar issues like rice shortage in Malaysia, or rent controls in large cities like NYC or LA *and the policy responses to solve them?Using supply-and-demand diagrams explain how the following events would affect the supply or demand in each market (draw the original demand and supply and in the same graph draw the NEW demand or supply-showing your shifts) and how the quantity and price of in equilibrium will be affected: a) An ongoing, chronic shortage of long-haul drivers is creating major issues with trucking capacity, leading to delays when transporting goods across countries. Also, because building materials like steel beams, concrete slabs, pipes, logs, etc. are large and very heavy, it’s common for companies to use oversized flatbed fleet trucks or tractor trailer fleet trucks to ship them around the country. What happens in the market of building materials due to this event? b) What happens in the market for store brand sodas if: there is a world-wide recession that decreases consumers' incomes (assume ramen noodles are an inferior good)?© Macmillan Learning Suppose the accompanying graph depicts a market for one pound bags of candy. Place the line labe! Shortage at a price that would generate a shortage and then, determine its size. Price per bag 10 9 8 7 5 4 3 2 1 2 Market for Candy Shortage 3 4 5 6 7 Quantity (millions of bags) S 8 D 9 10 Shortage= 3 million bags
- 6. Suppose that a new, influential research study proves conclusively that cigarette smoking causes cancer in a way that causes people to start to pay more attention to the warning that "cigarette smoking is injurious to health." At the same time, suppose that new restrictions on the use of fertilizer dramatically raise tobacco production costs. Using conventional supply and demand analysis, one would expect the combined effect of these changes on the cigarette market to be: a. b. C. d. an increase in equilibrium price, with the change in equilibrium quantity uncertain a decrease in equilibrium price, with the change in equilibrium quantity uncertain. an increase in equilibrium quantity, with the change in equilibrium price uncertain. a decrease in equilibrium quantity, with the change in equilibrium price uncertain.Need help with Evaluation Evolution Question 3 asks how easily the quantity supplied of salmon can be changed in response to changes in its price. In your answer, write about the short term - if the price of salmon doubled today, for example, could the quantity supplied of salmon double in the next year? What are the constroints on increasing supply? Then consider the long term. What are the constraints on increasing supply and how important are they? Come to an overall condusion about the short term and long term.A4
