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- Question 2b - Part 2 Given the following information Qp = 240 - 5P %3D Qs = P where Qp is the quantity demanded, Qs is the quantity supplied and P is the price. Seller's reservation priceFill in the blank by typing 'increase', 'decrease', 'no change, or 'uncertain'. To receive credit, make sure to type the words in exactly as I have above. Do not include the apostrophes ('). In March of 2021 there was a fire in a major Japanese computer chip factory. This event would have caused the market price of computer chips to and the market quantity to Computer chips are a necessary input in the production of cars. Therefore, the factory fire would cause the market price for new cars to and the market quantity to Around the end of March 2021, the number of COVID-19 cases began to drop. As a result, people began to return to work and subsequently demanded more cars. The effects of this in conjunction with the factory fire would cause the market price for cars to and the market quantity toUse the graph to answer the question that follows. Price/$ s1 p2 p1 0 q1 q2 Quantity Which of the following is responsible for the change in demand and supply of silk shirts from X1 to X2? Increase in the popularity of silk shirts and introduction of new government subsidies for the cotton industry Decrease in consumers' income and improvement in weaving machinery Increase in the popularity of satin shirts and introduction of new government subsidies for the sericulture (silk) industry Increase in the popularity of silk shirts and introduction of new government subsidies for the sericulture (silk) industry Increase in consumers' income and the popularity of satin shirts x1 s2 x2 d1 d2
- Find the income when the quantity is given as $441 and the price is given as $209Synchronized shift in greater demand and greater supply, a graph only.A popular brand of decorative clay floor tile is priced at $7 per square until a surge in supply forces the price, for a short time, down to Drag the appropriate curve(s) to show the effect of the price drop. $3. To refer to the graphing tutorial for this question type, please click here. Price ($) 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 DSR 3 3 S1 DLR Quantity (thousands)
- Homework (Ch 05) The following graph input tool shows the daily demand for hotel rooms at the Peacock Hotel and Casino in Las Vegas, Nevada. To help the hotel management better understand the market, an economist identified three primary factors that affect the demand for rooms each night. These demand factors, along with the values corresponding to the initial demand curve, are shown in the following table and alongside the graph input tool. Demand Factor Initial Value $50,000 per year Average American household income Roundtrip airfare from San Francisco (SFO) to Las Vegas (LAS) $200 per roundtrip Room rate at the Grandiose Hotel and Casino, which is near the Peacock $250 per night Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool 500 Market for Peacock's…During the COVID 19 pandemic, the demand for personal protective equipment increased. What adjustments would the market make as a result that would benefit the economy? Group of answer choices The price of personal protective equipment would fall because producers could not meet the demand at lower prices. The price of personal protective equipment would rise, signaling to producers that more production was needed. The price of personal protective equipment would rise, signaling to consumers that they should purchase less personal protective equipment. The supply of personal protective equipment fell as production became more expensive.Which of the following is not held constant when considering the demand for popcorn? Multiple Choice expectations of higher prices for popcorn the price of nachos (a substitute) the price of popcorn consumer incomes 4