Which of the following represents producer surplus? Price Market price OB+A OB OA OB-A A B Equilibrium Equilibrium quantity Supply curve Demand curve Quantity
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- Paste Clipboard 5 2 of 10 Arial B AY 1432 words LX 14°C Partly sunny A 14 Uab x, x² Po Paragraph Styles A Aa A A Font N Styles Question Assume a competitive market is in equilibrium. There is an increase in demand, but no change in supply. As a result, the equilibrium price and the equilibrium quantity A) rises; does not change B) rises, increases C) falls; does not change D) falls, increases Question 2 This diagram shows the market for cocoa. Equilibrium is currently at point x The market for coco a S₁ Auntitu Sheet 2 of 10 Module Code: ECON1543 To which equilibrium point will the market move if there is speculation that the price of cocoa will fall? A) to point 5 B) to point 8 C) it stays at x D) to point 6 English (United Kingdom) Focus Price X 3 -------10 21- X D₂ 01 Editing Dictate VoiceIn Louisiana, the price of beef recently increased due to the popularity of the Keto diet. Leather is a byproduct of raising cattle and producing beef for sale. Show the effect of this event by shifting the appropriate curve in the market for leather shown in the graph. The equilibrium price of leather is $ The new equilibrium quantity is million. Price($) 50 45 40 35 30 20 10 0 1 Leather Market 2 5 3 4 6 Quantity in millions of pounds Supply Demand 7 8 9 10Homework (Ch 05) The following graph shows the supply of a good. 360 PRICE (Dollars per unit) 180 0 P 8 W ix 20 QUANTITY (Units) II I II I I I 64 72 Supply A (?) a I' CO Call
- Use the figure below to answer the following question. $5 4 3 2 46 8 10 12 14 16 18 20 Quantity Supplied (thousands of bushels per week) The figure above shows three supply curves for wheat. Which of the following would cause the supply of wheat to shift from Sy to Sa Multiple Cholce a tax on wheat production a subsidy for wheat production an Increase In the price of wheat a decrease In the price of wheat Price (per pound)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 ? 380Price A B P C EQ Market for Product X What would happen to the equilibrium price of Product X if demand for Product X decreased? It would rise. It would fall. Quantity It would fluctuate. S It would stay the same. D
- What happens when a producer produces Q* amount of quantity and sells itat the price level of P*? Explain the graph below in your ownwordsCopy of The following graph displays four supply curves (HH, II, JJ, KK) that intersect at point A. PRICE (Dollars per unit) 400 360 320 280 240 200 160 120 80 40 0 H 0 40 80 A SE H + 120 160 200 240 280 320 360 400 QUANTITY (Units) Using the graph, choose the statements that are true: Between points A and C, curve KK is inelastic. Between points A and B, curve II is perfectly inelastic. Curve KK is more elastic between points A and C than curve JJ is between points A and D. Between points A and E, curve HH is perfectly inelastic.Click on the icon to read the news clip, then answer the following questions. The graph shows the market for milk in Venezuela when a price control is in effect. Draw a shape that represents: 1) consumer surplus. Label it CS. 2) producer surplus. Label it PS. 3) the deadweight loss. Label it DWL. Also draw a shape that show the resources lost from time spend in line. Label it Loss. Moving from a milk market with no price controls to a milk with price controls consumer surplus and producer surplus. OA. increases; increases OB. increases; decreases OC. decreases; increases OD. decreases; decreases In the market for cheese, OA. consumer surplus decreases and producer surplus decreases 60- 50- 40- 30 20- 10- Price (bolivars per gallon) 0 40 $ 300 200 300 400 500 600 700 Quantity (gallons of milk) >>> Draw only the objects specified in the question. 100 Price control D Next SOU
- The graph shows the demand curve and the supply curve in the market for newpapers. Draw a horizontal line at a price at which there is a surplus of newpapers. Label it Surplus.The two market diagrams below show the market for public and private colleges. Market for Higher Education Private Colleges Market for Higher Education Public Colleges Sprivate Spublic F D, 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: 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: O supply will shift to the right. O demand will shift to the right. O supply will shift to the left. O demand will shift to the left. Tuition (price) Tuition (price)Equilibrium is where supply equals demand. In this market, the equilibrium quantity is: Quantity Demanded 12 Market Demand Price Ying Som Fon Nam Gob Yam 10 4. 4 10 2. 4 21 3 6 26 1 3 5 29 3 10 36 2. 1. 10 10 40 12 11 10 48 -Market Supply -Market Demand Quantity Supplied Apple 11 Market Price Boom Oiy Cartoon Kai Mint Supply 42 10 10 10 10 34 5 5 31 24 2 1 21 5 2 5 14 4 4 3 4 2 10 20 30 40 1