Homework Answers
ANSWER IS B
In the high cost of production the supply will be less because of price.when cost of production decreases the producer can be increase the supply.lower cost will be result an increase in output.the curve will shift to outward (to the right ) so supplier will be sell more quantity at each price level
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Suppose that the graph below depicts demand and supply curves for gasoline. Which graph best represents...
QUESTION 12 Figure: The graph below shows a demand curve and four supply curves 1 Price...
QUESTION 12 Figure: The graph below shows a demand curve and four supply curves 1 Price Refer to Figure. If a tax is imposed in the above market then which supply curve will have highest deadweight lossi a. S2 Oc. SA. d.53. QUESTION 18 When boats are taxed and sellers of boats are required to pay the tax to the government, a. there is a movement downward and to the right along the demand curve for boats. Ob the quantity...
Consider the market for gasoline Suppose the market demand and supply curves are as given below....
Consider the market for gasoline Suppose the market demand and supply curves are as given below. In each case, quantity refers to millions of ihres of gasoline per month price is the price perire in Demand: P-300 - 160 Supply P 12040 Compute the equilibrium price and quantity The equilibrium quantity is 60 million tres(Enter your response rounded to one decimal place) The equilibrium price is cents per tre (Enter your response rounded to the nearest cent)
Refer to Figure 6-24. Suppose D1 represents the demand curve for gasoline in both the short...
Refer to Figure 6-24. Suppose D1 represents the demand curve for
gasoline in both the short run and long run, S1 represents the
supply curve for gasoline in the short run, and S2 represents the
supply curve for gasoline in the long run. After the imposition of
the $2, the price paid by buyers will be
Figure 6-24 Suppose the government imposes a $2 on this market. Price 10 S1 S2 D2 D1 1 2 3 4 5 6 789...
The graph below depicts the aggregate demand, Irrun aggregate supply, and short-run aggregate supply curves for...
The graph below depicts the aggregate demand, Irrun aggregate supply, and short-run aggregate supply curves for the United States at an initial long-run macroeconomic equilibrium Price level] (P) LRAS SRAS Real GDP Consider a situation in which two things happen simultaneously: there is a deterioration of institutions, and the federal government massively increases spending. Which of the graphs below illustrates the shifts in this model given this situation? Price level Price level (P) (P) URAS LRAS, LRAS SRAS SRAS SRAS...
Not sure how to solve this Questions 1-6: The diagram below depicts the supply and demand...
Not sure how to solve this
Questions 1-6: The diagram below depicts the supply and demand curves for bicycles. Use the diagram to answer the following questions 1 to 6. Price (Sunit) 150 Supply 70 40 Demand 10 100 200 300 Quantity 4. The economy transitions from no trade to free trade and the new international equilibrium price for a bicycle is $40. How does this affect the consumer surplus in this economy? a. Decreases by $7 500 Decreases by...
In the graph below, assume that the original demand and supply curves are given by D1...
In the graph below, assume that the original demand and supply curves are given by D1 and S1 respectively. Locate the original equilibrium point, identifying both the original equilibrium price and quantity. Now assume that "demand decreases." How is this represented? Locate the new equilibrium point. What happens to the equilibrium price when demand decreases? What happens to the equilibrium quantity? Finally, discuss the idea of price as a rationing device in the context of this example.
In the graph below, assume that the original demand and supply curves are given by D1...
In the graph below, assume that the original demand and supply curves are given by D1 and S1 respectively. Locate the original equilibrium point, identifying both the original equilibrium price and quantity. Now assume that "supply decreases." Graphically, show how this is represented. Locate the new equilibrium point. What happens to the equilibrium price when supply decreases? What happens to the equilibrium quantity? Finally, discuss the idea of price as a rationing device in the context of this example.
1. The following graph depicts the demand curve, marginal revenue curve, and marginal cost curve that...
1. The following graph depicts the demand curve,
marginal revenue curve, and marginal cost curve that an oligopolist
faces. The firm is currently charging the cartel price, P*, and
producing the cartel quantity, Q*.
Suppose input prices fall and marginal cost decreases
from MC1 to MC2. Based on this event alone, the firm depicted in
the figure above will
2. Suppose one rental car company raises its prices
and the rival car companies leave their prices unchanged. But when
another...
The graph to the right depicts the average cost curves and the marginal cost curve for...
The graph to the right depicts the average cost curves and the marginal cost curve for a typical firm in a competitive industry. 1.) Using the line drawing fool, draw the firm's demand curve at a market price such that the firm is breaking even. Label your curved, 2.) Using the line drawing tool, draw the firm's demand curve at a market price such that the firm is at its shutdown price. Label your curved, Carefully follow the instructions above,...
Suppose there is a linear downward-sloping demand curve and a linear upward-sloping supply curve for some...
Suppose there is a linear downward-sloping demand curve and a linear upward-sloping supply curve for some good. The price of a substitute good decreases and the price of an input to the production process also decreases. Both changes occur simultaneously. Graph the original demand and supply curves, and then graph new curves after the substitute good and input prices decrease. How will the equilibrium price and quantity change after the substitute and input prices decrease? Explain your answer in English...
QUESTION 12 Figure: The graph below shows a demand curve and four supply curves 1 Price Refer to Figure. If a tax is imposed in the above market then which supply curve will have highest deadweight lossi a. S2 Oc. SA. d.53. QUESTION 18 When boats are taxed and sellers of boats are required to pay the tax to the government, a. there is a movement downward and to the right along the demand curve for boats. Ob the quantity...
Consider the market for gasoline Suppose the market demand and supply curves are as given below. In each case, quantity refers to millions of ihres of gasoline per month price is the price perire in Demand: P-300 - 160 Supply P 12040 Compute the equilibrium price and quantity The equilibrium quantity is 60 million tres(Enter your response rounded to one decimal place) The equilibrium price is cents per tre (Enter your response rounded to the nearest cent)
Refer to Figure 6-24. Suppose D1 represents the demand curve for
gasoline in both the short run and long run, S1 represents the
supply curve for gasoline in the short run, and S2 represents the
supply curve for gasoline in the long run. After the imposition of
the $2, the price paid by buyers will be
Figure 6-24 Suppose the government imposes a $2 on this market. Price 10 S1 S2 D2 D1 1 2 3 4 5 6 789...
The graph below depicts the aggregate demand, Irrun aggregate supply, and short-run aggregate supply curves for the United States at an initial long-run macroeconomic equilibrium Price level] (P) LRAS SRAS Real GDP Consider a situation in which two things happen simultaneously: there is a deterioration of institutions, and the federal government massively increases spending. Which of the graphs below illustrates the shifts in this model given this situation? Price level Price level (P) (P) URAS LRAS, LRAS SRAS SRAS SRAS...
Not sure how to solve this
Questions 1-6: The diagram below depicts the supply and demand curves for bicycles. Use the diagram to answer the following questions 1 to 6. Price (Sunit) 150 Supply 70 40 Demand 10 100 200 300 Quantity 4. The economy transitions from no trade to free trade and the new international equilibrium price for a bicycle is $40. How does this affect the consumer surplus in this economy? a. Decreases by $7 500 Decreases by...
1. The following graph depicts the demand curve,
marginal revenue curve, and marginal cost curve that an oligopolist
faces. The firm is currently charging the cartel price, P*, and
producing the cartel quantity, Q*.
Suppose input prices fall and marginal cost decreases
from MC1 to MC2. Based on this event alone, the firm depicted in
the figure above will
2. Suppose one rental car company raises its prices
and the rival car companies leave their prices unchanged. But when
another...
The graph to the right depicts the average cost curves and the marginal cost curve for a typical firm in a competitive industry. 1.) Using the line drawing fool, draw the firm's demand curve at a market price such that the firm is breaking even. Label your curved, 2.) Using the line drawing tool, draw the firm's demand curve at a market price such that the firm is at its shutdown price. Label your curved, Carefully follow the instructions above,...
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