In the figure to the right, what are the effects of a price increase from $4 per wireless earbud to $7 per wireless earbud on the quantities demanded by Buyer 1 and by Buyer 2 individually and combined? 1.) Using the line drawing tool, draw the market demand curve for the two buyers. Label this line 'D.' 2.) Using the point drawing tool, indicate on Buyer 1's demand curve, D₁, the quantity demanded when the price is $4 per wireless earbud. Label this point 'A₁.' 3.) Using the point drawing tool, indicate on Buyer 2's demand curve, D2, the quantity demanded when the price is $4 per wireless earbud. Label this point 'A2' 4.) Using the point drawing tool, indicate on the market demand curve for the two buyers, D, the quantity demanded when the price is $4 per wireless earbud. Label this point 'A.' Carefully follow the instructions above, and only draw the required objects. --- Price per Wireless Earbud ($) 7- 1- D1 D2 4 8 12 16 20 24 28 32 36 40 Wireless Earbuds per Year

Please give a detailed solution with an explanation with a typed answer. For the graph make sure it is readable, visible, and label each of the x and y points/coordinates as well for both lines.

Maddie and Brandon are discussing their demand for Sour Patch Kids candy. Maddie buys 11 packages every month at a price of $2 and reduces her quantity demanded by 1 for every $0.05 increase in price. Brandon buys 21 packages every month at a price of $2 and reduces his quantity demanded by 2 for every $0.50 increase in price. Do not round your answers. (a) What are the equations of Maddie and Brandon's demand curves? Maddie's demand curve: P = Brandon's demand curve: P = (b) If the price of Sour Patch Kids candy is $1.25, what quantities do Maddie and Brandon demand? Maddie demands Brandon demands Qd+ Qd+ Maddie's marginal benefit is $ Brandon's marginal benefit is $ Sour Patch Kids candies. (c) What are Maddie and Brandon's marginal benefits of consuming their 16th packages of candy? Sour Patch Kids candies.

4. Consider the following two points on a demand curve: POINT A has a price of $ 119 and a quantity demanded of 3 and POINT B has a price $ 24 less and quantity demanded of 2 more units. Using the "mid-point" method, what is the % CHANGE in the PRICE in the range between POINT A and POINT B? Report percentages as implicitly. For example , 0.325 = 32.5 %, mear report 32.5 Answer: your answer Submit 5. Consider the following two points on a demand curve: POINT A has a price of $ 116 and a quantity demanded of 5 and POINT B has a price $ 21 less and quantity demanded of 4 more units. Using the "mid-point" method, what is the ELASTICITY of DEMAND in the range between POINT A and POINT B? Answer: your answer Submit 6. WHICH of the following goods is most likely to have an INCOME ELASTICITY of DEMAND that is less 1? (1) Beer, (2) Airpods, (3) Gasoline, (4) Puppies, (5) Movie Tickets. Answer: your answer Submit

Consider the demand for shrimp shown in Figure 2. Suppose the current demand for shrimp is D (in black), the current price of a pound of shrimp is $10, and the current quantity demand of shrimp is 200K. Which of the following correctly describes an increase in the demand for shrimp, assuming the price of a pound of shrimp remains at $10?      A) The demand curve for shrimp shifts right from D to D' (blue), and the quantity demand for shrimp decreases from 200K pounds to 150K pounds.       B) The demand curve for shrimp shifts left from D to D'' (red), and the quantity demand for shrimp decreases from 200K pounds to 150K pounds.       C) The demand curve for shrimp shifts right from D to D' (blue), and the quantity demand for shrimp increases from 200K pounds to 270K pounds.       D) The demand curve for shrimp shifts left from D to D'' (red), and the quantity demand for shrimp increases from 200K pounds to 270K pounds.

Explain how the market demand curve for a ‘normal’ good will shift (i.e. left, right or noshift) in each of the following cases? What then will happen to the equilibrium price andquantity?(a) The price of a substitute good risesClick or tap here to enter text.(b) The price of a complementary good fallsClick or tap here to enter text.(c) The price of the good increasesClick or tap here to enter text.(d) Tastes shift away from the goodClick or tap here to enter text.(e) Personal income increases   with diagrams please

Mr. Hildago will experience a substantial increase in income when he accepts a new position at work. Even though the responsibilities of his new job are more taxing, he is excited to spend some of his higher income Mr. Hildago knows that a good can be characterized as either a normal good or an inferior good and that whether he buys more or less of the good depends on whether or not the good is normal or inferior The demand curve in the diagram to the right represents a normal good. Using the line drawing tool, illustrate the correct direction of the shift of the demand curve due to Mr. Hildago's increase in income. Properly label this line Carefully follow the instructions above and only draw the required object Quantity

Name a normal good, an inferior good, a set of substitute goods, a set of complements that are used in your household daily. For the normal good, make a (Hypothetical) linear demand schedule with 7 different price points and corresponding quantity demanded by your own household. For the same normal good, make another (Hypothetical) linear demand schedule with 7 different price points and corresponding quantity demanded by your neighbor. Assuming that you and your neighbor are the only two households in the market, make a market demand schedule for the same normal good. Draw and interpret a graph to show the market demand and impact of changes in quantity demanded if the price of the same normal good decreases. For the inferior good, draw and interpret a graph showing the demand curve and a shift in the curve if your income increases. For anyone good from the set of substitutes, draw and interpret a graph showing the demand curve and a shift in the curve if the price of the substitute…

6) The quantity demanded of a certain brand of smart phone is 2000 per week when the unit price is $84. For each decrease in the unit price $5 below $84, the quantity demanded increases by 50 units. The supplier will not market any of the smartphones if the unit price is $60 or less, but the supplier will market 1800 per week if the unit price is $90. The supply and demand equations are known to be lineara) Find the demand and supply equationsb) Find the equilibrium quantity and price

3)What is the relationship between a demand schedule and a demand curve? * a)A demand schedule shows the various quantities of the good demanded, while a demand curve shows the various prices. b)A demand schedule is a numerical tabulation of the quantity demanded of a good at different prices, while a demand curve is a graphical representation of the law of demand. c)A demand curve shows the various quantities of the good demanded, while a demand schedule shows the various prices. d)A demand curve is a numerical tabulation of the quantity demanded of a good at different prices, while a demand schedule is a graphical representation of the law of demand.