In 2005 Earthquake has devastating effects on the economy. A lot of factories gets destroyed, many people lost their life. Explain with the help of demand and supply curves how an earthquake affects the market equilibrium and what is the new equilibrium price and quantity.

Q: Suppose the following graph shows the current market supply for coffee. Firms expect the price of…

A: Supply:Supply is the total number of goods and services produced by a producer is called supply.…

Q: Suppose that (a) it is reported that coffee helps students retain information and (b) the cost of…

A: At the equilibrium price, the quantity demanded is equal to the quantity supplied.Equilibrium…

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A: Demand: It refers to the goods and services that are demanded by the people. More demands show more…

Q: Name the three cases when both the demand and supply increases at a certain period of time?

A: Generally in the given question The word supply means the ability of the consumers or the producer…

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A: Due to heat wave, there will be an increase in demand for box fans.  Hence,  Demand curve for box…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: a. increase in the price of margarineButter and margarine are substitute goods. When the price of a…

Q: Draw supply and demand graphs for each of the following markets. Be sure to label the axis and…

A: When talking about demand and supply framework, it can be said that it is the representation of a…

Q: The price of apple falls what happens in the market for apple pies

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A: Demand refers to the quantity of the goods demanded by the consumers at a given price during a given…

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A: What happens to the equilibrium price and quantity of steaks, if the price of chicken meat, a…

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A: The objective of the question is to understand the impact of changes in consumer behavior and…

Q: In 2017, Kenya banned the use of disposable plastic shopping bags due to concern over plastics…

A: This can be defined as a concept that shows the total demand for the products and services in a…

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A: In a market, a supplier's decision is influenced by the market price because market price is the per…

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A: Demand is the willingness to pay for or buy a particular good or service in the market by a…

Q: How would you use the theory of Demand and Supply to explain a historical event? Your answer needs…

A: Demand and supply are two fundamental concepts in economics. The desire, willingness, and ability to…