Which would NOT shift the supply curve? O an improvement in available technology O an increase in the cost of resources O a lower subsidy O a drop in income
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- were.34.7 0 W e denerg esteyf demand for pood 12 O000Use the following information toanswer the questions belowComputers:Soybeans:Total revenue =Total120revenue = 120Payments to labor =60Paymentsto labor = 80Payments to capital =60Paymentsto land = 40Holding the price of computersconstant, suppose the price ofsoybeans rises 10% and that the wagerate increases 5%.a. What is the effect of these changeson the rental rate of capital?b. What is the effect of these changeson the rental rate of land?In 2018, a cold front in Barbados increased both the demand for water heaters andgasolines. The usage of gasoline was 581 tonnes, an increase from 499 tonnes in theprevious year. The Petroleum Company of Barbados advised Government officials thatdemand could outweigh supply and asked companies to increase the supply. They alsoasked major gasoline users, such as power plants, to reduce demand. Illustrate the effect of the cold front on the demand for gasoline using a demandcurve diagram over the two years.
- In 2018, a cold front in Barbados increased both the demand for water heaters andgasolines. The usage of gasoline was 581 tonnes, an increase from 499 tonnes in theprevious year. The Petroleum Company of Barbados advised Government officials thatdemand could outweigh supply and asked companies to increase the supply. They alsoasked major gasoline users, such as power plants, to reduce demand.i. Illustrate the effect of the cold front on the demand for gasoline using a demandcurve diagram over the two years. ii. Assuming the Petroleum Company of Barbados did not issue a directive for anincrease in supply and a decrease in demand, explain the problem that would existin the economy and how would this be corrected over time. iii. Illustrate the effect of major gasoline suppliers increasing supply as well as usersreducing their demand. iv. Discuss one factor EACH that you think influence demand and supply for waterheaters. Provide examples v. Is demand for gas is price elastic or price…In 2018, a cold front in Barbados increased both the demand for water heaters andgasolines. The usage of gasoline was 581 tonnes, an increase from 499 tonnes in theprevious year. The Petroleum Company of Barbados advised Government officials thatdemand could outweigh supply and asked companies to increase the supply. They alsoasked major gasoline users, such as power plants, to reduce demand. i. Illustrate the effect of the cold front on the demand for gasoline using a demandcurve diagram over the two years. ii. Assuming the Petroleum Company of Barbados did not issue a directive for anincrease in supply and a decrease in demand, explain the problem that would existin the economy and how would this be corrected over time.We know that a change in the price of a product causes a movement along the demand curve. Suppose consumers believe that prices will be rising in the future. How will that affect demand for the product in the present? Can you show this graphically?
- Table 4.6 shows the amount of savings and barrowing in a market for loans lo purchase homes, measured in millions of dollars, at various interest rates. What is the equilibrium interest rate and quantity in the capital financial market? How can you tell? Now, imagine that because of a shift in the perceptions of foreign investors, the supply curve shifts so that there will be 10 million less supplied at every interest rate. Calculate the new equilibrium interest rate and quantity, and explain why the direction of the interest tale shift makes intuitive sense.Use graphs to demonstrate the effect of ashift in supply or demand, and describe what causesthese curves to shiftThe market demand for productXis given by: \[ Q_{d}=6-1 / 2 P \text { or } P d=12-2 Q \] The market supply for goodXis given by: \[ Q_{s}=-14+2 P \text { or } P s=7+1 / 2 Q \] whereP=price per unit andQis number of units. Draw a supply-and-demand graph with these curves. 1.) Using the line drawing tool, draw the supply and demand curves. Properly label your lines. 2.) Using the point drawing tool, plot the equilibrium point. Label your point 'E'. Note: Carefully follow the instructions above and only draw the required objects. The equilibrium price is$and the equilibrium quantity is unit(s). (Enter your responses as integers.) A per-unit excise tax is imposed on suppliers of productX, and the market supply with the tax is now given by: \[ Q_{s}=-19+2 P \text { or } P s=9.50+1 / 2 Q \] Using the graph on the right, show this supply curve. 1.) Using the line drawing tool, draw the new supply curve. Label your line 'S1+tax'.1. Note: Carefully follow the instructions above and only draw…
- The minimum wage is set above the equilibrium wage rate. Does the minimum wage create inefficiency? Select one: A. yes B. no C. only if the supply of labor is perfectly inelastic O D. only if the supply of labor is perfectly elastic O E. only if employment exceeds the efficient amount Demand 5 10 15 20 25 30 Quantity (cups per hour) The figure above shows the demand curve for Starbucks latte. In the figure above, the demand is elastic in the range of prices between Select one: O A. $3.50 and $4.50 per cup. B. $1.75 and $2.75 per cup. C. $2.00 and $4.00 per cup. D. $2.50 and $3.50 per cup. O E. $1.00 and $2.00 per cup. Other goods (units per day) 70 60 50 40 30 20 10 PPF Pizza (thousands per day) Marginal benefit and marginal cost (units of other goods per pizza) 20 MC 15 10 MB 4 8 Pizza (thousands per day) 2 4 6. Pizza (thousands per day) The figure above shows the PPF, marginal cost curve, and marginal benefit curve for pizza. In the figure above, when 4,00o pizzas are produced, the…1990s and early 2000s saw a crisis for sugarcane producers. During this period, thequantity supplied of sugarcane outweighed quantity demanded and the market was inturmoil. Over time the price of sugarcane recovered after 2014, peaking in July 2018. In part, thiswas due to farmers diversifying into other crops; in part, it was due to buoyant globaldemand for alternate products. In 2019, however, a combination of good harvests and afall in fertilizer sugarcane prices caused supply to increase substantially. Althoughdemand was still growing in developing countries, the onset of recession in developedcountries was halting the growth in demand. a. Illustrate and explain how the market for sugarcane will maintain equilibriumover time given the problem that exists in the late 1990s and early 2000s. b. Is demand for sugar cane price elastic or price inelastic? Explain yourreasoning. c. Illustrate and explain (i) how the sugar cane market changed during the period2014 – 2018 and (ii) what…1990s and early 2000s saw a crisis for sugarcane producers. During this period, thequantity supplied of sugarcane outweighed quantity demanded and the market was inturmoil. Over time the price of sugarcane recovered after 2014, peaking in July 2018. In part, thiswas due to farmers diversifying into other crops; in part, it was due to buoyant globaldemand for alternate products. In 2019, however, a combination of good harvests and afall in fertilizer sugarcane prices caused supply to increase substantially. Althoughdemand was still growing in developing countries, the onset of recession in developedcountries was halting the growth in demand. a. Explain how revenue for sugar cane would have been impacted in July 2018relative to the early 2000s.
