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A: To find : What quantity scheduled.
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- The diagram illustrates the demand for MQ2020, a luxury car manufactured by MQ Motors Which statement correctly describes the demand for MQ2020? 8,000 Price, P: WTP (5) 6,000 4,800 4,000 3,200 2,000 0 0 40 60 80 100 Quantity, Q: number of consumers per day 120 Select one O a. There are 99 consumers per day who are willing to pay money for MQ2020. O b. If MQ Motors sets the price at $4,800, there will be 60 consumers who are willing to buy MC22020 Oc MQ Motors will need to raise the price up to $8,000 in order to maximise its profit Od. There are 59 consumers who are willing to pay more than $4,800 for MQ2020. Oe. The demand curve shows that points A and C are feasible options for MQ Motors.TRUE OR FALSE * If change in quantities demanded and supplied is greater than the change in price, then they type of elasticity of D and s is elastic. * Good has unitary type of elasticity id change in quantities demanded and supplied are equal. *Luxury items have elastic demand and supply.QUESTION 11 Jennifer, an accountant, is promoted at the company she works for. Therefore, her salary increases. We would expect Jennifer's demand for a. all the goods she purchases to remain unchanged. b. normal goods to decrease. C. inferior goods to decrease. d. substitute goods to increase. O a d. QUESTION 12 If Andrea's boss informs her that she will get a salary increase next month. Then a. her demand for all goods will increase next months b. her demand for normal goods will increase next months C. her demand for normal goods increases now d. her demand for all goods increases now O a O d a all gnswers. ОООО
- The price elasticity of demand is more likely to be inelastic if Othere are a lot of substitutes available. O the price of the product is a large fraction of income. Othere is a long time frame involved. O the product is a necessity.Please do not provide answer in image formate thnak you.The law of supply implies that if nothing eise changes, there is . a linear relationship between price of a good and the quantity demanded. a negative relationship between the price of a good and the quantity supplied. a positive relationship between the price of a good and the quantity supplied. O none of the answers given is true. an exponential relationship between price of a good and the quantity supplied.
- When a good or service faces an inelastic demand curve, a change in price will have a small effect on the quantity demanded. O True Falsefer to the accompanying figure Assume the market is originally at point W. Movement to point X is the result of Price W N Quantity Multiple Choice 4 O an increase in demand and a decrease in supply. an increase in demand and no change in supply. no change in demand and an increase in supply. a decrease in demand and an increase in supplyPlease no written by hand and no emage
- If the price of good X falls and the demand for good X is unit elastic, then the percentage rise in quantity demanded is the percentage fall in price, and total revenue, greater than; rises less than; falls Ogreater than; falls O equal to; remains constant Oless than; risesJane's budget line A. rotates outward if her budget increases and prices don't change В. shifts outward with no change in its slope if her budget increases and prices don't change C. shifts inward with no change in its slope if the price of one good rises and her budget doesn't change D. rotates inward if the prices of both goods double and her budget doesn't changeWhatisthedifferencebetweenthedemandandthe quantity demanded of a product, say milk? Explain in words and show the difference on a graph with a demand curve for milk.