CLICK TO SELECT: A - B - C -
DHomework Answers
1. One car campaign: A, as the
demand for car reduces and hence the demand cure shifts to
left
2. Increase in price of steel: B, Cost of production increases and
supply shifts to left
3. A Baby boom : C, because of more population, demand shifts to
right
4. Increase in oil price: A, Oil being complementary for car, with
the increase in price of oil, the demand reduces and hence it
shifts to left
5. Improvements in efficiency: D, Cost of production reduces and
hence supply curve shifts to right
6. The government offers a tax rebate: A, rail tickets being cheap,
people would switch to rails which reduces the demand and hence
demand curve shifts to left
26 The graph below depicts the market for gasoline. a. Use the diagram below to illustrate...
26
The graph below depicts the market for gasoline. a. Use the diagram below to illustrate that consumers expect the price of gasoline to decrease in the future Instructions: Use the tool provided 'New line' to draw a new line that reflects the market effect of this event. Plot only the endpoints of the line. Market for Gasoline Tools s1 New line D1 Thousands of gallons b. This expectation will cause the equilibrium price to Click to select) and the...
The graph below depicts the market for cars. a. Use the diagram below to illustrate an...
The graph below depicts the market for cars. a. Use the diagram below to illustrate an increase in the price of steel Instructions: Use the tool provided 'New line' to draw a new line that reflects the market effect of this event. Plot only the endpoints of the line. Market for Cars Tools New line D, Quantity of cars b. If the price of steel increases, the ((Click to select) and the equillbrium quantity to Click to selectl cars will...
The table shows the demand and supply schedules for pretzels A fall in income decreases the...
The table shows the demand and supply schedules for pretzels A fall in income decreases the quantity demanded by 500 bags a day at each price At the initial equilibrium price, there is a of pretzels. The price of a bag as the market moves to its new equilibrium Price (dollars per bag) 2.50 2.75 3.00 325 3.50 Quantity Quantity demanded supplied (bags of pretzels per day) 2,500 1,500 2.000 2,000 1,500 2,500 1,000 3,000 3,500 500 O A. shortage,...
The demand and supply for automoblles In a certain country is given In the graph below....
The demand and supply for automoblles In a certain country is given In the graph below. The world price of automobles is $8,000. a. Assuming that the economy Is closed, find the equilibrium price and quantity of automobles. Instructions: Indicate the equilibrium price and quantity using the tool "Equilibrium* by clicking on the appropriate Intercept on the given graph. Market for Cars Price of cars (S) 26,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 Tools...
The table shows the demand and supply schedules for magazines. Complete the following sentences. The equilibrium...
The table shows the demand and supply schedules for magazines. Complete the following sentences. The equilibrium price of a magazine is 4and the equilibrium quantity is 150 magazines a week. Price (dollars per Quantity demanded Quantity supplied 3.00 3.50 4.00 4.50 5.00 160 155 150 145 140 138 144 150 156 161 Now a fall in the price of a newspaper decreases the quantity demanded by 11As the market returns to equilibrium, the quantity demandedand the magazines a week at...
Please answer the question, A, B, C, and D. Thank you. The following graph represents the...
Please answer the question, A, B, C, and D. Thank you.
The following graph represents the market for soya beans. Price ($) 20 40 80 100 60 Quantity a) What is the equilibrium price and quantity traded for the soya beans? [2 marks] Price: Quantity Traded: b) If the price of soybeans were $14 per unit, would there be a shortage, surplus, or neither? Circle the correct response. [1 mark] SHORTAGE SURPLUS NEITHER c) Suppose Supply increased by 30 units....
Consider the graph below that shows the supply and demand of Darby's Funnel cakes sold on...
Consider the graph below that shows the supply and demand of Darby's Funnel cakes sold on a given day from her food truck in Lexington Kentucky. SUPPLY AND DEMAND OF DARBY'S FUNNEL CAKES PRICE 0 1 2 3 4 5 9 10 11 12 13 14 6 7 8 QUANTITY Which price and quantity combination would be consistent with the notion of MARKET EFFICIENCY if all of the assumptions we make for efficient markets hold true in this market? O...
The graph below shows a small country that produces wine, with no international trade, existing in...
The graph below shows a small country that produces wine, with
no international trade, existing in a state of autarky. PLEASE
CHECK A & B AND WRITE OUT THE ANSWERS TO C & D. I was not
able to figure out answers c & d.
a. What is the initial market price and quantity of wine traded
in equilibrium?
Pe: $40 per barrel
Qe: 7 million
barrels
b. Now suppose this small country opens its markets to
international trade. Suppose...
In the market for televisions, the price of a television falls and nothing else changes. Price...
In the market for televisions, the price of a television falls and nothing else changes. Price (dollars per television) Show the effect of this change o os Choose between the following Use the single arrow tool to draw an arrow on the demand curve showing the direction of movement along the line OR Use the line tool to draw a new demand curve Only one of the effects is correct, and you must determine which is the appropriate one to...
26
The graph below depicts the market for gasoline. a. Use the diagram below to illustrate that consumers expect the price of gasoline to decrease in the future Instructions: Use the tool provided 'New line' to draw a new line that reflects the market effect of this event. Plot only the endpoints of the line. Market for Gasoline Tools s1 New line D1 Thousands of gallons b. This expectation will cause the equilibrium price to Click to select) and the...
The graph below depicts the market for cars. a. Use the diagram below to illustrate an increase in the price of steel Instructions: Use the tool provided 'New line' to draw a new line that reflects the market effect of this event. Plot only the endpoints of the line. Market for Cars Tools New line D, Quantity of cars b. If the price of steel increases, the ((Click to select) and the equillbrium quantity to Click to selectl cars will...
The table shows the demand and supply schedules for pretzels A fall in income decreases the quantity demanded by 500 bags a day at each price At the initial equilibrium price, there is a of pretzels. The price of a bag as the market moves to its new equilibrium Price (dollars per bag) 2.50 2.75 3.00 325 3.50 Quantity Quantity demanded supplied (bags of pretzels per day) 2,500 1,500 2.000 2,000 1,500 2,500 1,000 3,000 3,500 500 O A. shortage,...
The demand and supply for automoblles In a certain country is given In the graph below. The world price of automobles is $8,000. a. Assuming that the economy Is closed, find the equilibrium price and quantity of automobles. Instructions: Indicate the equilibrium price and quantity using the tool "Equilibrium* by clicking on the appropriate Intercept on the given graph. Market for Cars Price of cars (S) 26,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 Tools...
The table shows the demand and supply schedules for magazines. Complete the following sentences. The equilibrium price of a magazine is 4and the equilibrium quantity is 150 magazines a week. Price (dollars per Quantity demanded Quantity supplied 3.00 3.50 4.00 4.50 5.00 160 155 150 145 140 138 144 150 156 161 Now a fall in the price of a newspaper decreases the quantity demanded by 11As the market returns to equilibrium, the quantity demandedand the magazines a week at...
Please answer the question, A, B, C, and D. Thank you.
The following graph represents the market for soya beans. Price ($) 20 40 80 100 60 Quantity a) What is the equilibrium price and quantity traded for the soya beans? [2 marks] Price: Quantity Traded: b) If the price of soybeans were $14 per unit, would there be a shortage, surplus, or neither? Circle the correct response. [1 mark] SHORTAGE SURPLUS NEITHER c) Suppose Supply increased by 30 units....
Consider the graph below that shows the supply and demand of Darby's Funnel cakes sold on a given day from her food truck in Lexington Kentucky. SUPPLY AND DEMAND OF DARBY'S FUNNEL CAKES PRICE 0 1 2 3 4 5 9 10 11 12 13 14 6 7 8 QUANTITY Which price and quantity combination would be consistent with the notion of MARKET EFFICIENCY if all of the assumptions we make for efficient markets hold true in this market? O...
The graph below shows a small country that produces wine, with
no international trade, existing in a state of autarky. PLEASE
CHECK A & B AND WRITE OUT THE ANSWERS TO C & D. I was not
able to figure out answers c & d.
a. What is the initial market price and quantity of wine traded
in equilibrium?
Pe: $40 per barrel
Qe: 7 million
barrels
b. Now suppose this small country opens its markets to
international trade. Suppose...
In the market for televisions, the price of a television falls and nothing else changes. Price (dollars per television) Show the effect of this change o os Choose between the following Use the single arrow tool to draw an arrow on the demand curve showing the direction of movement along the line OR Use the line tool to draw a new demand curve Only one of the effects is correct, and you must determine which is the appropriate one to...
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