1- consider the demand for computers. For each of the following, state the effect on demand:...
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consider the demand for computers. For each of the following, state
the effect on demand:...
Please I need answer for question number 3 I need the answer typed not handwriting please...
Please I need answer for question number 3
I need the answer typed not handwriting please
T-Mobile 令 8:55 PM a moodle.mcny.edu Consider the supply of computers. For each of the a. A change in technology that lowers production 2. following, state the effect on supply: costs b. An increase in the price of semiconductors c. A decrease in the price of computers d. An increase in the wages of computer assembly workers e. An increase in consumer incomes 3....
28. (9 points) Suppose a decrease in the world demand for desktop computers causes the world...
28. (9 points) Suppose a decrease in the world demand for desktop computers causes the world price of desktop computers to fall from $600 to $500. Before the decrease in demand, country uces 9,000 desktop computers and exports 50 percent of the total to other countries every week. However, after the decrease in demand, country A decreases its production to 8,000 and nly exports 40 percent of the total to the rest of the world. What are the changes in...
1. In each case below, identify the effect on the demand curve for steak: does it...
1. In each case below, identify the effect on the demand curve for steak: does it shift right or left? (Hint: remember the law of demand, substitutes in consumption, complements in consumption, etc.) a. An increase in the price of lamb - b. A decrease in the population c. An increase in consumer income (you may assume steak is a normal good) d. A decrease in the price of steak sauce e. An increase in advertising by chicken producers
What effect should each of the following have on the demand for gasoline in a competitive...
What effect should each of the following have on the demand for gasoline in a competitive market? State what happens to demand. Explain your reasoning in each case and relate it to a demand determinant. (a) an increase in the number of cars (d) consumer expectations of price increases in gasoline
Consider the supply and demand for broadband Internet service, given as follows: Q D = 224 – 4P, and QS= 12.5P – 150 wh...
Consider the supply and demand for broadband Internet service, given as follows: Q D = 224 – 4P, and QS= 12.5P – 150 where Q is the number of subscribers in a given area (in hundreds) and P is the price in dollars per month. a. The equilibrium price of broadband Internet service b. The equilibrium quantity of broadband Internet service c. Consumer surplus d. Producer surplus e. The total surplus received by producers and consumers together
2. Consider the market for cars. For each of the following cases, draw a graph and...
2. Consider the market for cars. For each of the following cases, draw a graph and show whether supply or demand will shift. Identify also the effect on the equilibrium price and quantity of cars. a. There is an increase in income, and cars are normal goods. b. The wages of autoworkers rise. c. It is September, and consumers know that cars usually go on sale in November. d. There is an increase in the price of gasoline. e. There...
Changes in one or more of the determinants of demand (consumer tastes, the number of buyers...
Changes in one or more of the determinants of demand (consumer tastes, the number of buyers in the market, the money incomes of consumers, the prices of related goods, and expected prices) shift the market demand curve. A shift to the right is an increase in demand; a shift to the left is a decrease in demand. A change in demand is different from a change in the quantity demanded, the latter being a movement from one point to a...
1. Best Bagels Company makes bagels. The law of demand implies, holding everything else constant, that...
1. Best Bagels Company makes bagels. The law of demand implies, holding everything else constant, that a. as the price of bagels increases, the quantity of bagels demanded will increase. b. as the price of bagels increases, the demand for bagels will increase. c. as the price of bagels increases, the quantity of bagels demanded will decrease. d. as the price of bagels increases, the demand for bagels will decrease! 2. When the price of a normal good falls, ceteris...
Consider the impact on demand for a specific product in each of the following cases -will...
Consider the impact on demand for a specific product in each of the following cases -will demand go up, down, or be unchanged? Explain your expected effect in one complete sentence (a) Animal welfare groups organize a boycott of sable fur coats; how is demand for sable pelts affected? (b) The price of gasoline goes down; how is demand for motorboats affected? (c) The price of coffee goes up; how is demand for energy drinks affected? (d) The price of...
Which of the following would cause an increase in the demand for good X (an inferior...
Which of the following would cause an increase in the demand for good X (an inferior good)? an increase in the price of good Y which is a complement to good X a decrease in the number of consumers an expectation of a lower price for good X a decrease in income a decrease in the price of good Z which is a substitute for good X In response the Covid-19 pandemic, many people want to purchase hand sanitizer. Simultaneously,...
Please I need answer for question number 3
I need the answer typed not handwriting please
T-Mobile 令 8:55 PM a moodle.mcny.edu Consider the supply of computers. For each of the a. A change in technology that lowers production 2. following, state the effect on supply: costs b. An increase in the price of semiconductors c. A decrease in the price of computers d. An increase in the wages of computer assembly workers e. An increase in consumer incomes 3....
28. (9 points) Suppose a decrease in the world demand for desktop computers causes the world price of desktop computers to fall from $600 to $500. Before the decrease in demand, country uces 9,000 desktop computers and exports 50 percent of the total to other countries every week. However, after the decrease in demand, country A decreases its production to 8,000 and nly exports 40 percent of the total to the rest of the world. What are the changes in...
1. In each case below, identify the effect on the demand curve for steak: does it shift right or left? (Hint: remember the law of demand, substitutes in consumption, complements in consumption, etc.) a. An increase in the price of lamb - b. A decrease in the population c. An increase in consumer income (you may assume steak is a normal good) d. A decrease in the price of steak sauce e. An increase in advertising by chicken producers
2. Consider the market for cars. For each of the following cases, draw a graph and show whether supply or demand will shift. Identify also the effect on the equilibrium price and quantity of cars. a. There is an increase in income, and cars are normal goods. b. The wages of autoworkers rise. c. It is September, and consumers know that cars usually go on sale in November. d. There is an increase in the price of gasoline. e. There...
1. Best Bagels Company makes bagels. The law of demand implies, holding everything else constant, that a. as the price of bagels increases, the quantity of bagels demanded will increase. b. as the price of bagels increases, the demand for bagels will increase. c. as the price of bagels increases, the quantity of bagels demanded will decrease. d. as the price of bagels increases, the demand for bagels will decrease! 2. When the price of a normal good falls, ceteris...
Consider the impact on demand for a specific product in each of the following cases -will demand go up, down, or be unchanged? Explain your expected effect in one complete sentence (a) Animal welfare groups organize a boycott of sable fur coats; how is demand for sable pelts affected? (b) The price of gasoline goes down; how is demand for motorboats affected? (c) The price of coffee goes up; how is demand for energy drinks affected? (d) The price of...
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