How should we expect the cost of oil to affect the cost of producing gasoline, diesel and other oil-based products in the US and other parts of the world? Why?

Q: The US space budget is $24billion. Why do countries spend so much money on space research?

A: spending money is not important as long as we get the benefits from it . Economically ,a huge…

Q: Do higher costs mean higher prices?

A: In economics, cost is a monetary value that is incurred in order to produce goods and services for…

Q: The cost of oil could decrease for the residents of countries that have to import fossil fuels. Why…

A: The cost of oil would rather increase for the residents of countries that have to import fossil…

Q: What do we mean by talking about "Demand for one product" and "Supply of one product"? Could you…

A: Demand for a single product means when changes in the prices and prices of other commodities affect…

Q: How Many decisions in business and economics require quantitative estimates? why ?

A: Almost every business and economic decision requires quantitative research. Data is very important…

Q: Explain, how you would set the price in Japan for a product that sells in the US for $10/unit.  How,…

A: we would set the price in Japan for a product that sells in the US for $10/unit by means of exchange…

Q: What is the impact of climate change on global food production, and how will this affect food…

A: Sustainability is the capacity to uphold and support a specific degree of social, economic, and…

Q: Ghana's president is also very interested in banning the imports of food in order to increase…

A: Ghana's president is also very interested in banning the imports of food So the cost of nutritious…

Q: Explanation of possible effects of higher oil prices on different types of firms and consumers

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Food is essential for life but why are many people in agriculture in countries like Taiwan seeking…

A: This can be defined as a concept that shows the total production of products and services in an…

Q: Since 2019, the price of lithium in China has been falling (and it is predicted to continue falling…

A: The law of demand refers to the inverse relationship between price and quantity demanded (other…

Q: Popular software can cost thousands of dollars even though the marginal cost of producinganother…

A: Meaning of Marginal Cost: The marginal cost refers to the situation under which the firm or an…

Q: what product would people around the world demand more of during tough economic times, and more…

A: During recession, people spend their incomes on higher education. According to the UNESCO, student…

Q: Enter the final equilibrium quantity and price indicated on the graph below. $9 $8 S2 $7 $6 D2 $1 $0…

A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity…

Q: As the diesel prices have almost caught up the gasoline prices, the market for diesel cars has…

A: When diesel prices were lower than gasoline prices, diesel cars were preferred. This is because the…

Q: What type of advantage does the US have in producing televisions?

A: The country U would result in the advantage of producing television as the country would result in…

Q: How much gasoline could Americans save each year if they did not take care of lawns? At today’s gas…

A: With the rising cost of gasoline and natural gas, most people are seeking for methods to conserve…

Q: Demonstrate graphically the impact of a rise in electricity prices on the production of ice cream.

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: diagramatically show and explain what happened to the oil market if the price remained unchanged…

A: When the price do not decrease in response to decrease in the demand it causes the problem of excess…

Q: draw a supply and demand curve to show the influence of demand and supply of fuel following a rise…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Equilibrium…

Q: Supply as a function of the price of inputs and technology? Comment

A:

Q: Give two factors that lead to the price of energy from new technologies to increase.

A: Introduction Energy, fossil fuels, oil, and sustainable energy markets are complex and continuously…

Q: other steps could be taken to make people more knowledgeable about the journey that food takes from…

A: Food is a material that is mostly made up of nutrients such as protein, carbohydrates, and fat and…

Q: Use a graph and a written description to explain what happens when an oil shortage leads to reduced…

A: The markets are the place where the sellers, or the suppliers of goods, services, and other products…

Q: In your own words, why isn't the cost of producing a product sufficient to predict its market price?

A: The production cost directly impact the price charged for a good or service. As production costs…

Q: According to the Italian economist Pareto, if I have 200 suppliers, how many suppliers can I expect…

A: In pareto theory,someone can be made better off only by worsening someone.

Q: How can the milk industry perform successfully in the future economy?

A: Milk is a important part of global food system and it is a source of income of the most rural…

Q: How high oil prices affect shipping companies demand

A: The shipping industry demand is related to oil prices, since they can greatly affect how expensive…

Q: In the supply and demand framework, what would happen to the market for cars if consumer incomes…

A: Demand curve is the downward sloping curve. Supply curve is the Upward sloping curve. Equilibrium is…