If the supply curve for Pizza is perfectly elastic, then a reduction in demand will cause: Question 4 options:           the equilibrium price to stay the same and the equilibrium quantity to fall the equilibrium price to rise and the equilibrium quantity to stay the same the equilibrium price to fall and the equilibrium quantity to fall the equilibrium price to rise and the equilibrium quantity to fall.

Q: Explain what it means when the supply of television sets rises. Explain what it means when the…

A: Change in supply refers to the overall change in supply. In other words, suppliers change increase…

Q: Question 9 An unexpected frost in the orange groves of Ohio would lead to an increase in the supply…

A: When an unexpected frost occurs in the orange groves, it damages or destroys a portion of the orange…

Q: Suppose the supply of apples sharply increases because of perfect weather conditions throughout the…

A:

Q: IPhones are mostly made of aluminum. Assume that iPhones are normal goods and that their substitutes…

A: iPhone's are mostly made of aluminium. Here we assume that iPhones are normal goods and that their…

Q: Question 2 The demand for good X is given by Q Qx = = 50-2P, and the supply of good X is given by…

A: To calculate the excess burden for each good as a result of tax imposition, we first need to…

Q: An increase in the price of the cheese used to produce pizza shifts the supply and demand curve of…

A: Cheese is used as a raw material in producing pizza. So, cheese is a factor of production in making…

Q: You are studying the market for a particular brand of perfume. You notice that a couple of changes…

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

Q: New iPhones are normal goods. What will happen to the equilibrium price and quantity in the market…

A: A normal good is a good whose demand increases as income increases. iPhones are considered a normal…

Q: "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. As a…

A: Supply: It means the total amount of goods or services available for consumers in the market.

Q: Consider two markets: the market for motorcycles and the market for pancakes. The initial…

A: Elasticity of supply measures the responsiveness of quantity supplied of a commodity to changes in…

Q: 1. What is the equilibrium price? What is the equilibrium quantity? Suppose P_c goes up to 14. New…

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

Q: Show the effect of consumer tastes and preferences declining for this good. Instructions: Use the…

A: Basics of Supply and Demand:The graph you provided represents the supply and demand in a market. The…

Q: Consider the market for cheese.  If the price of milk increases, what will be the consequences?…

A: All the goods in the market has a value. That value is paid by the consumers who wants to obtain the…

Q: Initially, the market for nitrile gloves is in equilibrium. In applying the concepts of supply and…

A: To be both balanced and efficient, a market must be in equilibrium. When a market reaches its…

Q: The demand and supply equations for the apple market are: Demand: P- 12 - 0.01Q Supply: P-0.02Q…

A: The demand and supply functions are P=12-0.01QP=0.02 Q

Q: carefully explain what is happening in the following market.indicate the impact if any on demand,…

A: Peanut butter and jelly are considered complementary goods. Complementary goods are those goods that…

Q: Suppose last month  the equilibrium price of gum is $1 and the equilibrium quantity of gum is .75.…

A: At Equilibrium Price, quantity demanded and quantity supplied are equal to each other.  Changes in…