Homework Answers
8. If the price per pizza is $10, the price will decrease because there is an excess supply in the market. Here the equilibrium price is $8 where the demand and supply are equal. At $10 there is a decrease in the quantity demanded and an increase in the quantity supplied. So the equilibrium price will fall. At any quantity the good is less valuable to the consumers now and the producers will accept the lower prices so the equilibrium price will fall. Therefore the correct option is d.
9. If the price per pizza is $12, there is an excess supply of 300 units. At the price of $12 per pizza the quantity demanded of pizza is 600 units and the quantity supplied of pizza is 900 units. So there is an excess supply of 900-600 = 300 units of pizza. Therefore the correct option is d.
10. If the price per pizza is $6, there is an excess demand of 150 pizzas. At the price of $6 per pizza, the quantity demanded of pizza is 900 units and the quantity supplied of pizza is 750 units. So there is an excess demand of 900-750=150 pizzas. Therefore, the correct option is a.
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8. If the price per pizza is $10, the price will (a) remain constant because the...
Tabe 4.1 Price per pizza Quantity demanded (pizzas per month) Quantity supplied (pizzas per month) $6...
Tabe 4.1 Price per pizza Quantity demanded (pizzas per month) Quantity supplied (pizzas per month) $6 1,000 900 800 700 600 700 750 800 $8 $10 850 $12 900 11. Refer to Table 4.1. If the price per pizza is $10, the price will a. remain constant because the market is in equilibrium. b. increase because there is an excess demand in the market. C. decrease because there is an excess demand in the market d. decrease because there is...
Question 16 1 pts Quantity Demanded Price Quantity Supplied per month 700 per Pizza per month...
Question 16 1 pts Quantity Demanded Price Quantity Supplied per month 700 per Pizza per month 100 600 300 500 500 400 300 900 The accompanying table shows the demand and supply of pizza at Tarantino's local pizza joint. If the price of pizza is $10, there is: surplus of pizzas and the price will fall as the market moves to equilibrium. shortage of pizzas and the price will fall as the market moves to equilibrium shortage of pizzas and...
20) Use the information in the table below to answer the following questions: Price per Gardenburger...
20) Use the information in the table below to answer the following questions: Price per Gardenburger $6 Quantity Supplied (Gardenburgers per Month Table 1 Quantity Demanded (Gardenburgers per Month) 1,100 1,000 900 800 700 700 750 800 850 Jf the price of a product is $6, there is an excess demand of A) 400 B) 150 C) 450 D) 300
7. A frozen food manufacturer can produce either pizzas or pepperoni rolls. As a result of...
7. A frozen food manufacturer can produce either pizzas or pepperoni rolls. As a result of a decrease in the price of pepperoni rolls, the firm produces fewer pepperoni rolls and more pizzas. An economist would explain this by saying a. the supply of pepperoni rolls increased and the supply of pizzas decreased. b. there has been an increase in the quantity supplied of pepperoni rolls and a decrease in the quantity supplied of pizzas. c. there has been an...
boxes are increase/decrease Excess supply of a product will cause the price to price change, the quantity demanded will...
boxes are
increase/decrease
Excess supply of a product will cause the price to price change, the quantity demanded will As a consequence of the and the quantity supplied will Market for pizza thousand bS At the current market price Market of $10.00, there is an excess supply of pizzas per month. (Enter your response as a positive integer.) PMarket Price per pizza D 2.00 1.007 0.00+ 7 18 :45 5 10 15 20 25 30 35 40 45 50 55...
Come Whe Den bio Giler Refer to Figure 4.14. A decrease in the price of mushrooms...
Come Whe Den bio Giler Refer to Figure 4.14. A decrease in the price of mushrooms (an input for Gardenburgers) will cause a movements from point Bon supply curve S2 to supply curve 83 b. supply curve S1. point A on supply curve S2 d p oint Con supply curve S2 Afrozen food manufacturer can produce either plazas or pepperoni rolls. As a result of a decrease in the price of pepperoni rolls, the firm produces fewer pepperoni rolls and...
Price (dollars per pizza) Quantity (millions of pizzas per year) In the above figure, the shift...
Price (dollars per pizza) Quantity (millions of pizzas per year) In the above figure, the shift in the supply curve from Sto S, reflects Select one: A. an increase in the supply of pizza. O B. an increase in the quantity of pizza supplied. O C . a decrease in the quantity of pizza supplied. O O D. a decrease in the supply of pizza E. None of the above answers is correct. Two brands of water, Natural Water and...
Refer to Figure 5.2. An example of an effective price ceiling would be if the government set rental rates for apartments at
25. Refer to Figure 5.2. An example of an effective price ceiling would be if the government set rental rates for apartments at a $700 b.$600 c. $400. d.$500.26. Refer to Figure 5.2. At the effective (binding) price ceiling: a quantity supplied exceeds quantity demanded b. demand exceeds supply c. supply exceeds demand d. quantity demanded exceeds quantity supplied 27. Refer to Figure 5.2. At the effective (binding) price ceiling a. the price will remain constant because the market is in equilibrium. b. the price will increase because...
Exhibit 3-8 Demand and Supply Data for Video Games Price Quantity Demanded of Video Games Quantity...
Exhibit 3-8 Demand and Supply Data for Video Games Price Quantity Demanded of Video Games Quantity Supplied of Video Games 400 900 450 850 500 550 750 600 700 650 700 750 In Exhibit 3-8, if there is a surplus of video games of 200 units, the current price of video games must be: a. $40. b. $60. c. $50. d. $45. 25.- When the price of a good is above its equilibrium price, a: a. surplus puts upward pressure...
7. Suppose that at a price of $70 the quantity supplied in a market is 10...
7. Suppose that at a price of $70 the quantity supplied in a market is 10 units, and at a price of s80 th e quantity supplied in the market is 15 unit. If we use this information to create a linear supply equation, what will that equation be? b. P-50+ 2Qs Suppose that college tuition is higher this year than last year and that more students are enrolled in college this year than last year. Based on this information,...
Tabe 4.1 Price per pizza Quantity demanded (pizzas per month) Quantity supplied (pizzas per month) $6 1,000 900 800 700 600 700 750 800 $8 $10 850 $12 900 11. Refer to Table 4.1. If the price per pizza is $10, the price will a. remain constant because the market is in equilibrium. b. increase because there is an excess demand in the market. C. decrease because there is an excess demand in the market d. decrease because there is...
Question 16 1 pts Quantity Demanded Price Quantity Supplied per month 700 per Pizza per month 100 600 300 500 500 400 300 900 The accompanying table shows the demand and supply of pizza at Tarantino's local pizza joint. If the price of pizza is $10, there is: surplus of pizzas and the price will fall as the market moves to equilibrium. shortage of pizzas and the price will fall as the market moves to equilibrium shortage of pizzas and...
20) Use the information in the table below to answer the following questions: Price per Gardenburger $6 Quantity Supplied (Gardenburgers per Month Table 1 Quantity Demanded (Gardenburgers per Month) 1,100 1,000 900 800 700 700 750 800 850 Jf the price of a product is $6, there is an excess demand of A) 400 B) 150 C) 450 D) 300
7. A frozen food manufacturer can produce either pizzas or pepperoni rolls. As a result of a decrease in the price of pepperoni rolls, the firm produces fewer pepperoni rolls and more pizzas. An economist would explain this by saying a. the supply of pepperoni rolls increased and the supply of pizzas decreased. b. there has been an increase in the quantity supplied of pepperoni rolls and a decrease in the quantity supplied of pizzas. c. there has been an...
boxes are
increase/decrease
Excess supply of a product will cause the price to price change, the quantity demanded will As a consequence of the and the quantity supplied will Market for pizza thousand bS At the current market price Market of $10.00, there is an excess supply of pizzas per month. (Enter your response as a positive integer.) PMarket Price per pizza D 2.00 1.007 0.00+ 7 18 :45 5 10 15 20 25 30 35 40 45 50 55...
Come Whe Den bio Giler Refer to Figure 4.14. A decrease in the price of mushrooms (an input for Gardenburgers) will cause a movements from point Bon supply curve S2 to supply curve 83 b. supply curve S1. point A on supply curve S2 d p oint Con supply curve S2 Afrozen food manufacturer can produce either plazas or pepperoni rolls. As a result of a decrease in the price of pepperoni rolls, the firm produces fewer pepperoni rolls and...
Price (dollars per pizza) Quantity (millions of pizzas per year) In the above figure, the shift in the supply curve from Sto S, reflects Select one: A. an increase in the supply of pizza. O B. an increase in the quantity of pizza supplied. O C . a decrease in the quantity of pizza supplied. O O D. a decrease in the supply of pizza E. None of the above answers is correct. Two brands of water, Natural Water and...
Exhibit 3-8 Demand and Supply Data for Video Games Price Quantity Demanded of Video Games Quantity Supplied of Video Games 400 900 450 850 500 550 750 600 700 650 700 750 In Exhibit 3-8, if there is a surplus of video games of 200 units, the current price of video games must be: a. $40. b. $60. c. $50. d. $45. 25.- When the price of a good is above its equilibrium price, a: a. surplus puts upward pressure...
7. Suppose that at a price of $70 the quantity supplied in a market is 10 units, and at a price of s80 th e quantity supplied in the market is 15 unit. If we use this information to create a linear supply equation, what will that equation be? b. P-50+ 2Qs Suppose that college tuition is higher this year than last year and that more students are enrolled in college this year than last year. Based on this information,...
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