Year Nominal CPI Real Price Price 2000 $2 90 2005 $3 120

Q: If there price of apples is R5 each and the price of Orange is R10 each? Explain what the absolute…

A: The following problem has been answered as follows:

Q: You are in the process of cleaning up your basement which has collections of historical media…

A: According to the given data, one can identify the change in price level and quantity level, such…

Q: What is the objective of the price change?

A: Price change shows that how during a trading period, there is a difference in price of the same…

Q: discuss why is supply and demand and important and how they affect fluctuating prices in the market

A: In economics, supply and demand are fundamental concepts that form the backbone of the market…

Q: Let’s think about the market for air travel. From August 2014 to January 2015, the price of jet fuel…

A: The demand and supply forces help the firms and other businesses to be in equilibrium and change as…

Q: Can the supply and the demand both shift?

A: Demand is the total volume of goods and services for which the customers are willing to purchase at…

Q: Draw the supply and demand curve for pencils. Gwinnett county provides every student with a laptop…

A: Here, as every student is provided with laptops at school, the students will work more with the…

Q: Consider the market for gas in the US. Suppose that due to Covid-19 that there is a fall in the…

A: When the price of oil falls due to Covid-19 which is used to produce gas, this leads to an increase…

Q: When examining the terms; 'sales', 'purchases', 'quantity demanded', and 'quantity supplied' we…

A: Sales refer to the amount of goods or services that a company or individual sells to customers. It…

Q: The price for a product might remain the same, or rise or fall over time. Regardless, over time…

A: The price for a product is determined at the intersection of the market demand for the product and…

Q: The supply curve is upward sloping because other things equal, a higher demand means greater…

A: The stock of products in the market that are produced by the producers and able to be sold to the…

Q: Explain any four non-price factors affecting the demand.

A: FEEL FREE TO ASK FOR  CLARIFICATIONS.

Q: would the price of concert tickets in the us be macro or micro

A: There are two branch of economics Microeconomics and Macroeconomics. Microeconomics deals with…

Q: why is supply and demand and important and how they affect fluctuating prices in the market

A: In economics, supply and demand is a model that explains how prices are determined in a market. The…

Q: What do you mean by the demand of a commodity?   a) Desire for the commodity   b) Need for the…

A: In economics, the term 'demand' refers to the quantity of a product or service that consumers are…

Q: A decrease in the demand for chocolate with no change in the supply of chocolate will create a _____…

A: Equilibrium is achieved at a point where demand curve intersects supply curve.

Q: How will a decrease in the wage rate of pizza makers affect the market for pizza?

A: the answer is given below

Q: In the following questions, give all your answers to two decimals. Patrice works as an economist for…

A: Cross price elasticity of demand refers to the responsiveness of change in the quantity demand due…