The figure below shows the market for the new Guns and Butter album, "Live at Saskatoon." 0 Market for Guns and Butter album, "Live at Saskatoon
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- The table shows the demand and supply schedules for tacos. If the quantity demanded of tacos decreases by 140 per hour at each price, the new price of a taco is $ Total surplus by $ decreases increases C M Price (dollars per taco) 0 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 Quantity demanded (tacos per hour) 560 Quantity supplied 490 420 350 280 210 140 70 0 0 70 140 210 280 350 420 490 560 NextPRICE [Dolars per laptop) The following diagram shows supply and demand in the market for laptops. 150 Demand 135 120 105 90 75 60 45 30 15 Supply ° 1 0 35 70 105 140 175 210 245 280 QUANTITY (Millions of laptops) 315 350 Fill in the following blanks with integer values: The market price is The market quantity is The consumer surplus is 4200 The producer surplus is 4200 The total surplus is 8400 A price ceiling is imposed at $60. The market price is now There is now a (surplus/shortage/none) Is there deadweight loss (yes/no)? of what amount? How much if any? If a price floor is implemented at $65, would it be binding? (yes/no)The graph shows the car market in Mexico when Mexico places no restriction on the quantity of cars imported. The world price of a car is $10,000. Suppose the government of Mexico introduces an import quota on imported cars of 4 million a year. Draw a line that shows the effect of the import quota on supply. Label it S + quota. Label it. Draw a point to show the quantity of cars bought in Mexico and the price paid. When the government of Mexico introduces an import quota of 4 million cars, Mexico imports nothing million cars and produces nothing million cars.
- The table shows the demand and supply schedules for on-campus housing. If the college puts a rent ceiling on rooms of $600 a month, what is the rent, how many rooms are rented, and is the on-campus housing market efficient? CELEB If the college puts a rent ceiling on rooms of $600 a month, the rent is $ and the number of rooms rented is Rent (dollars per month) 500 550 600 650 700 750 Quantity demanded 5,000 4,500 4,000 3,500 3,000 2,500 (rooms) Quantity supplied 4,500 4,500 4,500 4,500 4,500 4,500Shows information on the demand and supply for bicycles, where the quantities of bicycles are measured in thousands.a. What is the quantity demanded and the quantity supplied at a price of $210? b. At what price is the quantity supplied equal to 48,000? c. Graphthedemandandsupplycurveforbicycles. How can you determine the equilibrium price and quantity from the graph? How can you determine the equilibrium price and quantity from the table? What are the equilibrium price and equilibrium quantity? d. If the price was $120, what would the quantities demanded and supplied be? Would a shortage or surplus exist? If so, how large would the shortage or surplus be?The following graph shows market for printers at equilibrium at price of $100 and quantity of 100. A. Determine the effects of a $90 price ceiling on quantity demanded, quantity supplied, and quantity exchanged in the market. B. As a result of this price ceiling there will be how much shortage or Surplus in this market? C. Show the effects of the price ceiling on the graph. You can draw the graph on paper and upload an image as a PNG, JPEG or PDF document. Please keep in mind that I can not open the files with HEIC extension. D. Show the deadweight loss of the price ceiling on your graph. P 130 120 110 100 S 90 80 70 60 50 40 50 60 70 80 90 100 110 120 Q D
- The graph below depicts the market for blueberries in the country of Roni. Price 2.4 2.0 1.6 1.2 0.8 0.4 0 100 *** 200 300 400 500 600 FILI Ish... fald of bilan) D a) Suppose that in an attempt to boost the price of blueberries for its farmers, the government of Roni introduces a quota that limits the total amount that farmers can sell to 200.000 kilos. What is the maximum price at which this quantity could be sold? Round your answer to 1 decimal place. $ b) What would be the farmers' total revenue as a result of the quota? $ c) What if this government decides, instead of using a quota, to introduce a price floor of $1 per kilo? What would be the surplus/shortage and the resulting total revenue of farmers? (Click to select) of and total revenue: SConsider the market for plywood in a costal Florida town, which was hit by a hurricane. The residents need to rebuild their houses and are buying plywood in large quantities. To keep the price of plywood from going up too high, the Governor of Florida has decided to impose price controls in the wake of the hurricane. What is the most likely outcome?a. People will be able to obtain the plywood that they need. b. Plywood suppliers from out of state will increase deliveries to Florida to take advantage of the strong demand. c. There will be persistent excess demand for plywood. d. Quantity supplied will increase to meet new demand.Do you use water for things that are beyond what is nec- essary to sustain life? What if the price of water in your home tripled? How would you respond? Are there activi- ties that you would change or stop doing? Briefly explain. Does your demand for water obey the law of demand?
- The following graph shows the supply of a good. PRICE (Dollars per unit) 360 180-- Pety O 00 W 20 X QUANTITY (Units) 2-1 64 72 Z Supply ?The diagram describes the hypothetical demand and supply for canned tuna in Canada in 2022. a. Suppose the price of a can of tuna is $4.00. What is the quantity demanded? What is the quantity supplied? At this price, is there a shortage or a surplus? By what amount? If the price is $4.00, the quantity demanded is supplied is million cans. There is a (Round your responses to the nearest integer) million cans and the quantity by million cans. b. Suppose the price of a can of tuna is $2.50. What is the quantity demanded? What is the quantity supplied? At this price, is there a shortage or a surplus? By what amount? If the price is $2.50, the quantity demanded is supplied is million cans. There is a (Round your responses to the nearest integer) c. What is the equilibrium price and quantity in this market? million cans and the quantity by million cans. The equilibrium price is S per can, and the equilibrium quantity is milion Caris (Round your responses to the nearest integer) Price…Exercise 1: For each price per bushel in the table: • Indicate whether there is a shortage (quantity demanded > quantity supplied) or a surplus (quantity supplied > quantity demanded) • Indicate the amount of the shortage or surplus, • Draw a graph and indicate the equilibrium on the graph. What is the EQ price? Supply of Part Time Workers 35 30 25 20 15 10 5. 500 1000 1500 2000 2500 3000 Quantity of Part Time Hours Supply of Part Time Workers 35 30 25 20 15 10 1500 2000 2500 3000 500 1000 Quantity of Part Time Hours Quantity supplied Surplus or shortage Amount Quantity demanded-(B) Price per bushel $40 20 60 $32 30 50 $24 40 40 $16 50 30 $8 60 20 Hourly Rates