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IV.
2. The pandemic causes closure of some businesses due to prolonged lockdowns. This leads to more people being
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- IV. APPLICATION 2. A recent typhoon hit the Philippines where most of the raw materials are produced. What non-price determinants will affect the supply and in what way? How will it affect the country’s economy?IV. Before the pandemic, face masks were only used in certain hospitals handling highly contagious pulmonary diseases such as San Lazaro Hospitals and the ICUs of every hospital. However, studies and other health organizations and agencies talk about it’s effectiveness to prevent people from contracting the virus. Which of the following non-price determinants will affect the demand and in what way? How will it affect the country’s economy?Before pandemic, face masks are only used in certain hospitals handling highly contagious pulmonary diseases such as San Lazaro Hospitals and the ICUs of every hospital. However, studies and other health organizations and agencies talk about it’s effectivity to prevent people from contacting the virus. Which of the following non-price determinants will affect the supply and in what way? How will it affect the country’s economy?
- A recent typhoon hits the Philippines where most of the raw materials are produced. What non-price determinant/s will affect the supply and in what way? How will it affect the country’s economy?Using Exercise 16.20, sketch the effects in parts (a) and (b) on a single supply and demand diagram. What prediction would you make about how the improved information alters the equilibrium quantity and price?d. How will this change the equilibrium price and quantity of coffee? Explain your reasoning. Scenario 2: The Ministry of health publishes a study finding that coffee drinking reduces the probability of getting cancer. a. How do you imagine this will affect the market for coffee? Why? b. Which determinant of demand or supply is being affected? Explain. c. Show graphically the changes in demand or supply. d. Will this change the equilibrium price and quantity of coffee? Explain your reasoning.
- Serious natural disasters like hurricanes and tornadoes cause widespread and extensive damage to buildings. As a result of a natural disaster, what would you expect to happen in the market for building supplies? DescribeUsing a graph, explain how an increase in technology will effect the equilibrium price and quantity of DVD players. Again using a graph, explain what happens in the market for video cassette recorders. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.2: The Ministry of health publishes a study finding that coffee drinking reduces the probability of getting cancer. a. How do you imagine this will affect the market for coffee? Why? b. Which determinant of demand or supply is being affected? Explain. supply c. Show graphically the changes in demand or supply. d. Will this change the equilibrium price and quantity of coffee? Explain your reasoning.
- Suppose that scientists find evidence that proves tattoos improve the body’s immune system. What would we expect to see? A. a decrease in the demand for tattoos B. no change in the demand for tattoos C. an increase in the demand for tattoos D. a decrease in the supply of tattoos1.Given the products and conditions below, indicate how the events affect the demand, supply, equilibrium price and quantity of the goods. A. Healthcare. Highly publicized malpractice cases decrease consumer confidence in healthcare providers. Malpractice insurance premiums paid by doctors increase. The shift in demand is greater than shift in supply.Question: A survey indicated that chocolate is Americans' favorite ice cream flavor. For each of the following, indicate the possible effects on demand, supply as well as equilibrium price and quantity of chocolate ice cream. a. A severe drought in the Midwest causes dairy farmers to reduce the number of milk-producing cattle in their herds by a third. These dairy farmers supply cream that is used to manufacture chocolate ice cream. b. A new report by the American Medical Association reveals that chocolate does, in fact, have significant health benefits. c. The discovery of cheaper synthetic vanilla flavoring lowers the price of vanilla ice cream. d. New technology for mixing and freezing ice cream lowers manufacturers' costs of producing chocolate ice cream.