Homework Answers
The correct answer is price increase, quantity decrease.
When workers go on strike the production of soft drink reduce due to which the supply curve of soft drinks shift left ward( upward). Hence when supply curve shift left ward the price of soft drink increases and quantity decreases.
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Question 33 4 pts Consider the market for soft...
Consider the market for soft drinks. Assume that the market is perfectly competitive. Use the model...
Consider the market for soft drinks. Assume that the market is perfectly competitive. Use the model of supply and demand to determine the effects on equilibrium price and quantity of soft drinks for the following events. part a: Workers at soft drink bottling plants go on strike demanding higher wages part b: Household income increases and soft drinks are a normal good part c: The price of fruit juice, a substitute for soft drinks, decreases a. price decreases, quantity decreases...
I am on a time crunch thanks D Question 34 4 pts Consider the market for...
I am on a time crunch thanks
D Question 34 4 pts Consider the market for soft drinks. Assume that the market is perfectly competitive. Use the model of supply and demand to determine the effects on equilibrium price and quantity of soft drinks for the following events. part b: Household income increases and soft drinks are a normal good price increases quantity increases price increases: quantity decreases price decreases: quantity increases O price decreases: quantity decreases Question 35
D Question 33 2 pts The market for footballs is perfectly competitive. If all else is...
D Question 33 2 pts The market for footballs is perfectly competitive. If all else is held constant and the price of leather decreases, we would expect that the equilibrium quantity of footballs would and the equilibrium price would e rise rise O fall fall O fall: rise 2 pts D Question 34
Please help with these questions, Question 5 0.16 pts When firms in a market expect the...
Please help with these questions,
Question 5 0.16 pts When firms in a market expect the price of their products to rise, the supply curve of their goods causing the equilibrium price to O decreases; rise increases; rise and the equilibrium quantity to fall decreases; fall increases; fall O increases; rise Question 6 0.16 pts Taxes cause the equilibrium price of a good to Ogo up only for producers. O decrease O go down only for consumers O increase. remain...
Please help with these questions, Question 17 0.16 pts During the winter months, many elderly people...
Please help with these questions,
Question 17 0.16 pts During the winter months, many elderly people leave their homes in northern New York and travel south to Florida or Arizona. What would we expect to happen to the equilibrium price and quantity of items most used by the elderly in northern New York? One would increase and one would decrease, but we don't know which would do what O They would both increase. O The price would decrease and the...
Hi there, i need help on the following question: Consider the cigarettes market in an economy....
Hi there, i need help on the following question: Consider the cigarettes market in an economy. The demand for cigarettes is given by the equation P = 20 – 0.2Q and the supply of cigarettes is given by the equation P = 5 + 0.1Q, where P is the price per packet in dollars and Q is the number of packets of cigarettes. Assume that the cigarettes market is perfectly competitive. Solve for the market equilibrium price and quantity of...
got these questions wrong, need help with the correct answers, thanks Question 16 2 pts Exhibit...
got these questions wrong, need help with the correct answers,
thanks
Question 16 2 pts Exhibit 4-1 Quantity Quantity Price demanded supplied $1.00 100 1.20 1.40 1.50 1.60 If the price of the good described in Exhibit 4-1 is $1.50, then there will be 70 units bought and sold in this market O a suprlus of 70 units no units bought or sold in this market O a layoff of all workers in this industry O a shortage of 70...
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...
Time Left:2:11:24 Gee: Attempt 1 Question 43 (1 point) Saved Consider the market for Sugary Drinks....
Time Left:2:11:24 Gee: Attempt 1 Question 43 (1 point) Saved Consider the market for Sugary Drinks. Market demand is given as QD = 60 - 3P. Market supply is given as QS = 3P. Assume that there is a calculated external health cost of $10 per unit in this market. How much is the equilibrium quantity? O 30 O 15 10 60 O Question 44 (1 point) Saved ime Left:2:11:07 atalie Gee: Attempt 1 It will increase by S10, so...
Please help with these questions Question 41 0.4 pts The market for footballs is perfectly competitive....
Please help with these questions
Question 41 0.4 pts The market for footballs is perfectly competitive. If all else is held constant and the price of leather decreases, we would expect that the equilibrium quantity of footballs wouldand the equilibrium price would O fall; remain constant O rise; rise fall; fall O rise; fall fall; rise Question 42 0.4 pts Taxes cause the equilibrium price of a good to remain the same. increase. go down only for consumers decrease. go...
Consider the market for soft drinks. Assume that the market is perfectly competitive. Use the model of supply and demand to determine the effects on equilibrium price and quantity of soft drinks for the following events. part a: Workers at soft drink bottling plants go on strike demanding higher wages part b: Household income increases and soft drinks are a normal good part c: The price of fruit juice, a substitute for soft drinks, decreases a. price decreases, quantity decreases...
I am on a time crunch thanks
D Question 34 4 pts Consider the market for soft drinks. Assume that the market is perfectly competitive. Use the model of supply and demand to determine the effects on equilibrium price and quantity of soft drinks for the following events. part b: Household income increases and soft drinks are a normal good price increases quantity increases price increases: quantity decreases price decreases: quantity increases O price decreases: quantity decreases Question 35
D Question 33 2 pts The market for footballs is perfectly competitive. If all else is held constant and the price of leather decreases, we would expect that the equilibrium quantity of footballs would and the equilibrium price would e rise rise O fall fall O fall: rise 2 pts D Question 34
Please help with these questions,
Question 5 0.16 pts When firms in a market expect the price of their products to rise, the supply curve of their goods causing the equilibrium price to O decreases; rise increases; rise and the equilibrium quantity to fall decreases; fall increases; fall O increases; rise Question 6 0.16 pts Taxes cause the equilibrium price of a good to Ogo up only for producers. O decrease O go down only for consumers O increase. remain...
Please help with these questions,
Question 17 0.16 pts During the winter months, many elderly people leave their homes in northern New York and travel south to Florida or Arizona. What would we expect to happen to the equilibrium price and quantity of items most used by the elderly in northern New York? One would increase and one would decrease, but we don't know which would do what O They would both increase. O The price would decrease and the...
got these questions wrong, need help with the correct answers,
thanks
Question 16 2 pts Exhibit 4-1 Quantity Quantity Price demanded supplied $1.00 100 1.20 1.40 1.50 1.60 If the price of the good described in Exhibit 4-1 is $1.50, then there will be 70 units bought and sold in this market O a suprlus of 70 units no units bought or sold in this market O a layoff of all workers in this industry O a shortage of 70...
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...
Time Left:2:11:24 Gee: Attempt 1 Question 43 (1 point) Saved Consider the market for Sugary Drinks. Market demand is given as QD = 60 - 3P. Market supply is given as QS = 3P. Assume that there is a calculated external health cost of $10 per unit in this market. How much is the equilibrium quantity? O 30 O 15 10 60 O Question 44 (1 point) Saved ime Left:2:11:07 atalie Gee: Attempt 1 It will increase by S10, so...
Please help with these questions
Question 41 0.4 pts The market for footballs is perfectly competitive. If all else is held constant and the price of leather decreases, we would expect that the equilibrium quantity of footballs wouldand the equilibrium price would O fall; remain constant O rise; rise fall; fall O rise; fall fall; rise Question 42 0.4 pts Taxes cause the equilibrium price of a good to remain the same. increase. go down only for consumers decrease. go...
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