Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 8.5, Problem 1ST
To determine
Explain why sales and stock purchase are not counted in
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Econ question
Is this a long run equilibrium? Why or why not?
The following graph shows the market for breakfast bar. Initially, the market is in a long-run equilibrium.
Suppose that a change in tastes resulted in a leftward shift in demand.
On the following graph, shift the demand or supply curve to reflect this change in tastes. Then use the grey point (star symbol) to indicate the new
short-run equilibrium.
Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and
snaps back
to its original position, just drag it a little farther.
(?
10
Short-run Supply
Demand
Short-run Supply
Short-run Equilibrium
Demand
Long-run Equilibrium
A
2
10
Long-run Supply
QUANTITY (Thousands of boxes)
PRICE (Dollars per box)
Chapter 8 Solutions
Macroeconomics
Ch. 8.2 - Prob. 1STCh. 8.2 - Prob. 2STCh. 8.2 - Prob. 3STCh. 8.3 - Prob. 1STCh. 8.3 - Prob. 2STCh. 8.3 - Prob. 3STCh. 8.5 - Prob. 1STCh. 8.5 - Prob. 2STCh. 8 - Prob. 1QPCh. 8 - Prob. 2QP
Ch. 8 - Prob. 3QPCh. 8 - Prob. 4QPCh. 8 - Prob. 5QPCh. 8 - Prob. 6QPCh. 8 - Prob. 7QPCh. 8 - Prob. 8QPCh. 8 - Prob. 9QPCh. 8 - Prob. 10QPCh. 8 - Prob. 11QPCh. 8 - Prob. 12QPCh. 8 - Prob. 13QPCh. 8 - Prob. 14QPCh. 8 - Prob. 15QPCh. 8 - Prob. 16QPCh. 8 - Prob. 17QPCh. 8 - Prob. 18QPCh. 8 - Prob. 19QPCh. 8 - Prob. 20QPCh. 8 - Prob. 21QPCh. 8 - Prob. 1WNGCh. 8 - Prob. 2WNGCh. 8 - Prob. 3WNGCh. 8 - Prob. 4WNGCh. 8 - Prob. 5WNGCh. 8 - Prob. 6WNG
Knowledge Booster
Similar questions
- Distinction between short-run and long-run equilibrium and factors affecting it?arrow_forwardWhat causes costs of production to vary with output in the short run? What generally causes costs of production to vary in the long run?arrow_forwardWhat is the difference between short-run and long-run in economics?arrow_forward
- Briefly define the short run and long run supply curve?arrow_forwardSuppose tuition at your university were to increase 10 percent. What would the short-run response be? The long-run response? What kind of adjustments might be made?arrow_forwardOn the following graph, shift the demand or supply curve to reflect this change in tastes. Then use the grey point (star symbol) to indicate the new short-run equilibrium. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dollars per bag) 10 8 0 0 2 4 6 Short-run Supply Demand QUANTITY (Thousands of bags) 8 10 Demand 0- Short-run Supply Short-run Equilibrium Long-run Equilibrium Long-run Supply ?arrow_forward
- The following graph shows the market for orange juice. Initially, the market is in a long-run equilibrium. Suppose that a change in tastes resulted in a rightward shift in demand. On the following graph, shift the demand or supply curve to reflect this change in tastes. Then use the grey point (star symbol) to indicate the new short-run equilibrium. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. 10 Short-run Supply Demand 8 Short-run Supply Short-run Equilibrium Demand 2 Long-run Equilibrium 2 4 8 10 Long-run Supply QUANTITY (Thousands of quarts) PRICE (Dollars per quart)arrow_forwardThank you for the help. How would this change in the long-run? Can you show the graph in the long-run too?arrow_forwardWhat is the LAW OF DIMINISHING RETURNS, and why is this law considered a short-run phenomenon?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning