The two market diagrams below show the market for public and private colleges. Market for Higher Education Private Colleges Tuition (price) E O demand will shift to the left. O supply will shift to the left. O demand will shift to the right. O supply will shift to the right. b. In the market for private colleges: Sprivate O supply will shift to the left. O demand will shift to the right. D₁ Tuition (price) Market for Higher Education Public Colleges Enrollment (students per semester) Enrollment (students per semester) How will an increase in state subsidies to public colleges affect the market for public and private colleges? a. In the market for public colleges: Spublic D₁

The two market diagrams below show the market for public and private colleges. Market for Higher Education Private Colleges Tuition (price) E O demand will shift to the left. O supply will shift to the left. O demand will shift to the right. O supply will shift to the right. b. In the market for private colleges: Sprivate O supply will shift to the left. O demand will shift to the right. D₁ Tuition (price) Market for Higher Education Public Colleges Enrollment (students per semester) Enrollment (students per semester) How will an increase in state subsidies to public colleges affect the market for public and private colleges? a. In the market for public colleges: Spublic D₁

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In 2011 oil production in Libya was interrupted by political unrest. At the same time, the demand for oil by China continued to rise.a. Demonstrate the impact on the quantity of oil bought and sold. Instructions: Draw a parallel shift in the demand or supply curve(s) by grabbing, dragging, and then dropping the curve(s) to the new position(s). In the market for oil, compared to the initial equilibrium (E0), the impact of these events on price is (Click to select) (to increase price, to decrease price or uncertain) and the impact on quantity is (Click to select) (to decrease quantity, to increase quantity, or uncertain)b. Oil production in Libya returned to its original levels by the end of 2012. What was the likely effect on equilibrium oil price and quantity?Compared to the equilibrium identified in part a, price will (Click to select) ( remain unchanged, decrease, increase) and quantity will (Click to select) (increase, decrease, or remain unchanged )
Price of Gasoline P3 P₂ P₁ 0 9₂ 9₂ 52 D S₁ Price Ceiling Quantity of Gasoline Refer to the figure above. With a price ceiling present in this market, what will happen when the supply curve for gasoline shifts from S₁ to S₂? The market price will stay at P₁ due to the price ceiling. A shortage will occur at the price ceiling of P2. The price will increase to P3. A surplus will occur at the new market price of P₂.
How would a decrease in the cost of production affect the market for new washing machines? O Supply would decrease, leading to a reduction in price and a reduction in quantity sold. O Supply would increase, leading to a reduction in price and an increase in quantity sold. Supply would decrease, leading to an increase in price and a reduction in quantity sold. Supply would increase, leading to an increase in price and an increase in quantity sold.
Please no written by hand and no emage Refer to Table 3.1 (attached). If the price per pizza is $15, there is a(n) Urban Economics Table 3.1-1.jpg Download Urban Economics Table 3.1-1.jpg Group of answer choices market equilibrium excess demand of 900 units excess demand of 400 units an excess supply of 600
7. A shift in the supply curve of bicycles resulting from higher metal prices will lead to higher prices lower prices a shift in the demand curve larger output a. b C. d.
Frigid Florida Winter is Bad News for Tomato Lovers An unusually cold January in Florida destroyed entire fields of tomatoes and forced marry farmers to delay their harvest. Florida's growers are shipping only a quarter of their usual 2.5 million kilograms a week. The price has risen from $13.00 for a 12.5-kilogram bux a year ago in S60 now. Source: USA Today, March 3. 2010 Draw the demand curve for tomatoes and the supply curve for tomatoes in January 2009 if the equilibrium quantity of tomatoes is 200,000 boxes a week and the equilibrium price is $13 a box. Label the curvas. Draw a point to show the equilibrium quantity and equilibrium price. Label it 1. Show how the events in the news clip influence the market for tomatoes in January 2010 and decrease the quantity of tomatoes to 50,000 boxes and raise the price to $60 a box. Draw ather a new cemand curve or a new supply curve and label it. Draw a point to show the new equilibrium quantity and equilibrium price. Label it 2. se.xcF…
PRICE (Dollars per notebook) 60 54 48 42 36 30 * 18 12 6 00 0 0 Supply Demand 100 200 300 400 500 600 700 800 900 1000 QUANTITY (Notebooks) The equilibrium price in this market is $ Graph Input Tool Market for Notebooks Price (Dollars per notebook) Price (Dollars per notebook) Shortage or Surplus 42 18 Quantity Demanded (Notebooks) per notebook, and the equilibrium quantity is 12 Shortage or Surplus Amount (Notebooks) 620 Quantity Supplied (Notebooks) notebooks per month. Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and whether this places upward or downward pressure on prices. Pressure ? 380
Refer to the figure, Price (dollars) 600 550 500 450 400 350 300 250 200 150 100 50 0 Market for Game Consoles S 10 20 30 40 50 60 70 80 90 100110 Quantity Toola DL 0 O Use the graph to show the area representing the deadweight loss, and then determine the deadweight loss created as a result of setting the price at $150. Instructions: Use the tool provided "DL to illustrate this area on the graph. Deadweight loss: $
9. The state of Minnesota rations camping sites on a first come, first served system. This has led to what America did during World War II. Venezuela to distribute food which is to what Minnesota does to and is a. An increase in the demand for camping sites and a decrease in supply; not similar; relies; prices; similar b. A surplus of camping sites and downward pressure on prices; similar to; does not rely; non-price rationing; similar I The state failing to maximize revenue from this shortage-creating system; similar to; does not rely; prices; similar d. The opportunity cost of wasted time for many would-be campers; similar to; refuses to rely; the invisible hand; similar C and D only. C. on with camping sites. e.
X Question 7 Figure 4-3 Price per pound ($) o P₁ Po 0 B D G C с E 0₂ H Q₁ H bad Supply Demand Quantity of granola (lbs) Figure 4-3 shows the market for granola. The market is initially in equilibrium at a price of P1 and a quantity of Q1. Now suppose producers decide to cut output to Q2 in order to raise the price to P2. Refer to Figure 4-3. At the price P2, consumers are willing to buy the Q2 pounds of granola. Is this an economically efficient quantity?
2. With respect to the demand for college enrollment, which of the following would cause (1) a movement along the demand curve or (2) a shift of the demand curve? a. An increase in incomes. b. Lower tuition. c. More student loans. d. An increase in textbook prices.
QUESTION 11 The number of seats available in an arena is fixed at 20,000. The equilibrium price for a ticket to a basketball game at the arena is $75. The equilibrium price for a ticket to the circus at the arena is $25. Which of the following is true? O The demand for each basketball game must be more than the demand for each circus performance. O Basketball games must be more expensive to produce than a circus performance. O The supply of circus performances must be less elastic than the supply of basketball games. O The demand for each circus performance must be greater than the demand for each basketball game.