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- Directions: In the space provided, draw supply and demand for each of the following prompts. Label your axes with price and quantity. 1. Change in quantity demand caused by price 2. Change in quantity supply caused by price 3. Shift in Demand right and left caused by TIRES 4. Shift in Supply right and left caused by TIGERS1. When the price of ground beef increases and all else is held constant, we would expect the supply of hamburgers to causing the price to Group of answer choices stay the same; stay the same increase; decrease decease; decrease increase; increase decrease; increase When firms in a market expect the price of their products to rise, the supply curve of their goods equilibrium price to 2. causing the Group of answer choices increases; rise and the equilibrium quantity to fall decreases; rise increases, fall. decreases; fall increases; rise 3. The change in an equilibrium value is sometimes indeterminate due to the fact that Group of answer choices supply always shifts less than demand. both supply and demand may increase or decrease by equal amounts. both supply and demand may not change. it is possible for demand to increase or decrease more than supply increases or decreases. demand always shifts less than supply.Which would cause a decrease in the quantity of computers supplied? A. An increase in the demand for computers B. A decrease in the demand for computers C. An increase in the incomes of consumers D. A decrease in the price of parts for making computers
- 5. At a price of $20, country 2 will a) offer for export 9 units of this product. b) seek to import 9 units of this product. c) choose not to trade. d) increase supply3) Coca-Cola: Suppose that Pepsi decreases the price of its six-packs from $3.00 to $2.50. How would this news change the demand for six-packs of Coca-Cola? a. First, graph the situation with price of Coca-Cola and quantity of Coca-Cola. Use BLACK for supply, BLUE for demand. Label supply as Sı and demand as Dj and D2. b. Using your knowledge of the laws of supply and demand, explain the shift(s) that have been made in your graph and describe what happened to the equilibrium price and quantity (3-4 bullet points), Make sure to include the 8 determinants of demand or 5 determinants of supply. Label the equilibrium points CLEARLY! c. Add a picture of Coca-Cola vs. Pepsi.15. Market equilibrium The following table presents the weekly demand and supply in the market for sweatpants in Philadelphia. Price (Dollars per pair of sweatpants) 6 12 18 24 30 Quantity Demanded (Pairs of sweatpants) 1,650 1,350 1,200 900 750 Quantity Supplied (Pairs of sweatpants) 300 600 750 1,350 1,800 On the following graph, plot the demand for sweatpants using the blue point (circle symbol). Next, plot the supply of sweatpants using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for sweatpants. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 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.
- 1. Use the market model of supply and demand to illustrate and explain the impact of the following events on the market for coffee. Make sure to identify which side(s) of the market is impacted, explain why it is impacted, how it is impacted, and the overall impact on the equilibrium price and quantity. a) The price of tea goes up by 100 percent. b) A study is released that links consumption of caffeine to increased incidence of cancer. c) Workers in the coffee industry unionize and negotiate higher wages.LGlve Ust O Hint Question 15 of 24 Check Answer The table shows the demand and supply for cocoa beans in two countries: Cameroon and Nigeria. Use the information in the table to answer the questions. Price ($) per pound (lb) of cocoa beans Price ($/lb) Cameroon quantity Cameroon quantity Nigeria quantity Nigeria quantity demanded (lb) supplied (lb) demanded (lb) supplied (Ib) 180 500 155 210 200 460 180 180 6. 250 410 200 160 5. 4 280 360 220 140 320 320 240 125 3 350 280 260 115 What would be the equilibrium price and quantity in Cameroon and Nigeria if free trade existed between the two countries? lb I quantity demanded, Cameroon: price, Cameroon: lb quantity demanded, Nigeria: price, Nigeria: %24 %24The table shows the demand and supply for cocoa beans in two countries: Cameroon and Nigeria. Use the information in the table to answer the questions. Price ($) per pound (lb) of cocoa beans Price ($/lb) Cameroon quantity demanded (lb) Cameroon quantity supplied (lb) Nigeria quantity demanded (lb) Nigeria quantity supplied (lb) 8 180 500 155 210 7 200 460 180 180 6 250 410 200 160 5 280 360 220 140 4 320 320 240 125 3 350 280 260 115 What would be the equilibrium price and quantity in Cameroon and Nigeria if free trade existed between the two countries?
- QUESTION 7 The demand for rubber erasers consists of two components. The first component is the demand for rubber erasers by art students. This demand is given by QA = 19,500 - 325P. The second component is the demand for rubber erasers by all others. This demand is given by Qo = 32,000 - 2,000P. (a) What is the total quantity demanded of rubber erasers if the price of an eraser is: (i) $10 (ii) $15 (iii) $20 (iv) $30 (v) $70 (b) Assume that the supply of rubber erasers is given by Qs = 14,000+ 175P. (i) Find the equilibrium price and the equilibrium quantity. (ii) Calculate the total consumer surplus. [Hint: It may be easier if you calculate the consumer surplus for art students and the consumer surplus for all others separately, and then add them up.] (c) Assume that the supply of rubber erasers is given by Qs = 8,390 + 180P. Find the equilibrium price and the equilibrium quantity. 10 (DC) EN510(Figure: The Supply of Apple TV Rentals) Use Figure: The Supply of Apple TV Rentals. An increase in the price of online movie rentals would result in the change illustrated by the move from: Price of Apple TV rental 0 Price of Apple TV rental n (a) Quantity (per period) (c) Quantity (per period) Price of Apple TV rental Price of Apple TV rental. 0 (b) S₂ S₁ Quantity (per period) (d) Quantity (per period)Emphasize the answers with a double rule. I. Philippines is one of countries which is considered as large consumer of rice in Southeast Asia. Rice, being a staple food for Filipinos, is a good subject to a careful analysis by economists. Consider the data below and answer the questions. SUPPLY FOR RICE Price per sack of rice P2550 P2000 Quantity Supplied (Qs) 100 200 d. Solve for the price consumers are willing and able to purchase at 1,000 units? e. What is the law of demand? f. Discuss the relations and differences of demand schedule, demand curve and demand function.