Homework Answers
Correct Answer:
Option: B.
Explanation: when the price of crude petroleum will increase, the cost of ticket prices will also increase, as a result the demand for the ticket will decrease, the supply for the ticket will not be affected.
End of Answer.
Please give a thumbs-up, it will be highly appreciated.
Thanks
Add Answer to:
Which of the following diagrams illustrates the change in the equilibrium in the market for airline...
4. In the market for airline tickets the equilibrium price of an airline ticket is $500...
4. In the market for airline tickets the equilibrium price of an airline ticket is $500 and 3 million tickets are bought and sold. The government imposes an excise tax on the sale of all airline ticket. After the tax is imposed 1.5 million airline tickets are sold; travelers pay $560 per ticket, $460 of which the airlines receive. a) Calculate the excise tax for an airline tickets. b) What is the incidence of the tax to the consumer? c)...
need help with e and f 4. In the market for airline tickets the equilibrium price...
need help with e and f
4. In the market for airline tickets the equilibrium price of an airline ticket is $500 and 3 million tickets are bought and sold. The government imposes an excise tax on the sale of all airline ticket. After the tax is imposed 1.5 million airline tickets are sold; travelers pay $560 per ticket, $460 of which the airlines receive. 4. In the market for airline tickets the equilibrium price of an airline ticket is...
Question 40 An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price: To...
Question 40 An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price: To rise and quantity to fall. To fall and quantity to rise. And quantity to rise. And quantity to fall Question 41 Assume two goods are substitutes. Ceteris paribus, a decrease in the price of one good will cause the equilibrium price of the other good to: Increase and the equilibrium quantity of the other good to increase Increase and the equilibrium quantity of the...
Directions: For each question, show what happens to Equilibrium price (P) and quantity (Q) using supply-demand...
Directions: For each question, show what happens to Equilibrium price (P) and quantity (Q) using supply-demand analysis. Clearly state your conclusion (e.g., "equilibrium price increases, while equilibrium quantity decreases" using the short-hand " ^P and vQ"). Be sure to complete and correctly label your graphs. Question 5: Part A: An important ingredient/input in the production of gasoline is petroleum. Suppose there is a technological innovation - let's call it hydraulic fracturing ("fracking") - in the production of petroleum. Ceteris paribus,...
6. The equilibrium price for a good is currently $25 and the equilibrium quantity is 400....
6. The equilibrium price for a good is currently $25 and the equilibrium quantity is 400. There is some change in the market that changes the equilibrium price to $35 and the equilibrium quantity to 500. This change is the result of only one curve shifting. Which of the following could have caused this change? 1) An increase in the cost of an input to the production of this good. II) A decrease in the price of a complement for...
uol or problem) 1. Crude petroleum is an input in the production of gasoline. In the...
uol or problem) 1. Crude petroleum is an input in the production of gasoline. In the 1970s, the United States experienced two major "negative oil shocks," which significantly reduced the supply of crude petroleum in the counie paribus, it follows that, in the standard supply and demand model, the supply of gasoline , leading to a equilibrium price of gasoline. ecreased; higher .increased: higher C. decreased; lower D. increased; lower 2. In the space below, graph the impact on the...
suppose that after a change in determining factors, the market-clearing price falls as the equilibrium quantity...
suppose that after a change in determining factors, the market-clearing price falls as the equilibrium quantity rises. which of the following could have occurred? a)there was an increase in the price of a complement b)there was a reduction in the number of firms that produce the good c)there was an increase in the number of consumers d)there was a decrease in the input price of the good
7. Market equilibrium occurs when: A) there is no incentive for prices to change in the...
7. Market equilibrium occurs when: A) there is no incentive for prices to change in the market. B) quantity demanded equals quantity supplied. C) the market clears. D) there is no incentive for prices to change in the market, quantity demanded equals quantity supplied, and the market clears. in equilibrium 8. An increase in supply with no change in demand will lead to quantity and in equilibrium price. A) an increase; an increase B) an increase; a decrease C) a...
1) Must be stapled. I will not accept any loose sheets 1) Identify non-price factors that...
1) Must be stapled. I will not accept any loose sheets 1) Identify non-price factors that would cause the demand curve to move right or left. 2) Next, draw (individual graphs) indicating how each of the following non-price factors would cause the change in demand curve (shift right, shift left), price (P) and quantity (Q). You need to draw a market equilibrium curve (i.e. both the demand and supply) for each of the following before you can shift the demand...
33. Which of the following statements is true of a perfectly competitive market? a. At equilibrium,...
33. Which of the following statements is true of a perfectly competitive market? a. At equilibrium, it is possible to make someone better off without making someone else worse off. b. The equilibrium price in a competitive market efficiently allocates scarce resources to participants. c. The sum of consumer surplus and producer surplus is not maximized at the equilibrium. d. The equilibrium price is determined by a few large firms in the market. 34. The concept of the invisible hand...
4. In the market for airline tickets the equilibrium price of an airline ticket is $500 and 3 million tickets are bought and sold. The government imposes an excise tax on the sale of all airline ticket. After the tax is imposed 1.5 million airline tickets are sold; travelers pay $560 per ticket, $460 of which the airlines receive. a) Calculate the excise tax for an airline tickets. b) What is the incidence of the tax to the consumer? c)...
need help with e and f
4. In the market for airline tickets the equilibrium price of an airline ticket is $500 and 3 million tickets are bought and sold. The government imposes an excise tax on the sale of all airline ticket. After the tax is imposed 1.5 million airline tickets are sold; travelers pay $560 per ticket, $460 of which the airlines receive. 4. In the market for airline tickets the equilibrium price of an airline ticket is...
Question 40 An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price: To rise and quantity to fall. To fall and quantity to rise. And quantity to rise. And quantity to fall Question 41 Assume two goods are substitutes. Ceteris paribus, a decrease in the price of one good will cause the equilibrium price of the other good to: Increase and the equilibrium quantity of the other good to increase Increase and the equilibrium quantity of the...
6. The equilibrium price for a good is currently $25 and the equilibrium quantity is 400. There is some change in the market that changes the equilibrium price to $35 and the equilibrium quantity to 500. This change is the result of only one curve shifting. Which of the following could have caused this change? 1) An increase in the cost of an input to the production of this good. II) A decrease in the price of a complement for...
uol or problem) 1. Crude petroleum is an input in the production of gasoline. In the 1970s, the United States experienced two major "negative oil shocks," which significantly reduced the supply of crude petroleum in the counie paribus, it follows that, in the standard supply and demand model, the supply of gasoline , leading to a equilibrium price of gasoline. ecreased; higher .increased: higher C. decreased; lower D. increased; lower 2. In the space below, graph the impact on the...
7. Market equilibrium occurs when: A) there is no incentive for prices to change in the market. B) quantity demanded equals quantity supplied. C) the market clears. D) there is no incentive for prices to change in the market, quantity demanded equals quantity supplied, and the market clears. in equilibrium 8. An increase in supply with no change in demand will lead to quantity and in equilibrium price. A) an increase; an increase B) an increase; a decrease C) a...
1) Must be stapled. I will not accept any loose sheets 1) Identify non-price factors that would cause the demand curve to move right or left. 2) Next, draw (individual graphs) indicating how each of the following non-price factors would cause the change in demand curve (shift right, shift left), price (P) and quantity (Q). You need to draw a market equilibrium curve (i.e. both the demand and supply) for each of the following before you can shift the demand...
Most questions answered within 3 hours.
-
Problem 1
You have a loan outstanding. It requires making three annual
payments at the end...
asked 1 minute from now -
A
fragment of DNA is amplified from a single molecule of template DNA
for 22 cycles....
asked 9 minutes ago -
Smartphones: A poll agency reports that 32% of teenagers aged
12-17 own smartphones. A random sample...
asked 17 minutes ago -
blood glucose level for obese patient population have
a mean of 100 with a standard deviation...
asked 45 minutes ago -
(a) A lightbulb has a resistance of 165 Ω when operating with a
potential difference of...
asked 26 minutes ago -
Questions
Submission Question 2: Stacks
Problem
Write a program that keeps track of where cars are...
asked 25 minutes ago -
Using α = 0.05, test if the mean weight change
is less than 0 if a...
asked 44 minutes ago -
JAVA
Lab -Lottery Calculator
IMPORTANT: This lab is best implemented using a loop structure.
If you...
asked 32 minutes ago -
A diver springs upward with an initial speed of 2.1 m/s from a
3.5-m board.
(a)...
asked 40 minutes ago -
In an isobaric compression process, the volume of steam is
reduced from 1 Mpa and 773...
asked 44 minutes ago -
Which of the following mutations is MOST likely to be
recessive?
A.
Deletion of a haplo-insufficient...
asked 49 minutes ago -
The U.S. Department of Transportation, National Highway Traffic
Safety Administration, reported that 77% of all fatally...
asked 1 hour ago