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Exese 2 [MBA S 2S7 Answer the following questions Q1. Suppose that there is an announcement...
Problem 2 Answer the following questions based on the table below. PriceQuantity Quantity Supplied Per Month...
Problem 2 Answer the following questions based on the table below. PriceQuantity Quantity Supplied Per Month S5 $4 $3 $2 Demanded Per Month 6,000 8,000 10,000 12,000 10,000 8,000 6,000 4,000 $1 14,0002,000 Given the table above, graph the demand and supply curves for flashlights. Make certain to label the equilibrium price and equilibrium quantity. What is the equilibrium price and the equilibrium quantity? Suppose the price is currently S5. What problem would exist in the market? What would you...
1. Suppose the U.S economy enters a recession and incomes fall. What will happen to the...
1. Suppose the U.S economy enters a recession and incomes fall. What will happen to the equilibrium prices and quantities of inferior goods? If price stays the same would that be equilibrium? Why or why not? What will eventually happen in th3 market? What happened to equilibrium price and quantity? Which quantity is affected and how do you know? Would your answer be the same if you were discussing normal goods? Explain using supply/demand graphs. 2. Draw a graph showing...
Assume a natural disaster has destroyed some factories that produce candies and the quantity of candies supplied decreases by 20 million packs a week at each price.
Price($ per pack)Quantity Demanded(millions of pack a week)Quantity Supplied(millions of pack a week)$17030$26040$35050$44060$53070$62080(a) Assume a natural disaster has destroyed some factories that produce candies and the quantity of candies supplied decreases by 20 million packs a week at each price. Explain what happens in the market for candies and draw a graph to illustrate the changes.(a) Based on your answer in (a), if, at the time as the natural disaster the teenage population increases, and the quantity of candies demanded...
The following table represents the market for solar wireless keyboards. Plot this data on a supply...
The following table represents the market for solar wireless keyboards. Plot this data on a supply and demand graph and identify the equilibrium price and quantity. Explain what would happen if the market price is set at $60, and show this on the graph. Explain what would happen if the market price is set at $30, and show this on the graph. Quantity Demanded Quantity Supplied Price $ 10.00 20.00 30.00 40.00 50.00 60.00 70.00 For each of the following...
Refer to Table 2-1. The table contains information about the corn market. Use the table to answer the following questions.
Refer to Table 2-1. The table contains information about the corn market. Use the table to answer the following questions.a) What are the equilibrium price and quantity of corn? b) Suppose the prevailing price is $9 per bushel. Is there a shortage or a surplus in the market? c) What is the quantity of the shortage or surplus? d) How many bushels will be sold if the market price is $9 per bushel? e) If the market price is $9 per bushel, what must...
7. Draw a diagram showing equilibrium in the market for candy. Clearly label your axes and...
7. Draw a diagram showing equilibrium in the market for candy. Clearly label your axes and curves. Now show the effect of a decrease in the price of sugar in the same diagram and mark the new equilibrium price and quantity. The equilibrium price of candy (increases, decreases) and the equilibrium quantity of candy (increases, decreases). 8. When a spell of bad weather results in a very large decrease in the orange crop, newspapers are likely to report "a shortage...
1. Consider the market for AT&T Sim Cards in the U.S., suppose their demand and supply...
1. Consider the market for AT&T Sim Cards in the U.S., suppose their demand and supply curves are given by the following equations: Q = 26,000 – 600P Q = 9,000 + 1,100P Where P is measured in dollars Q is the number of Sim Cards sold per year. a. Find the equilibrium price and quantity in this market? b. Draw the graph to show the equilibrium price and quantity c. Suppose the price is currently equal to $8 in...
Help, Please with 2 questions, and please can u explain the answer. 1. Use the model...
Help, Please with 2 questions, and please can u explain the
answer.
1. Use the model of supply and demand to explain why the prices of
vegetables after a hurricane increase more than the prices of
candies. Support your answer with a graph.
2. Analyze the effects of a taxation in this market
a) Find the values of price and quantity that guarantee a market
equilibrium (Q*,P*)
b) If the government imposes a $1 tax per unit sold, What...
Borrow a pen if you r do the not graph have and one. to answer questions...
Borrow a pen if you r do the not graph have and one. to answer questions Question 1: (15 points) b Dupply: S bel c) Equilibrium price: Pi d) Equiibrium quantity: Q Use the data in the table below to construct a properly labeled graph for Product A showing: (make the graph large enough to add new lines) a) Supply: Si b) Demand: Di (5 points for this part of the graph) PriceQuantity Demanded Quantity Supplied $ 1 $ 2...
Use the following information to answer questions 17 and 18: Suppose Congress cuts personal income tax...
Use the following information to answer questions 17 and 18: Suppose Congress cuts personal income tax rates 17. Draw a simple supply and demand graph to show how this would affect the market for refrigerators. 18. Why does this shift occur? How does that affect the equilibrium price and quantity? Explain.
Problem 2 Answer the following questions based on the table below. PriceQuantity Quantity Supplied Per Month S5 $4 $3 $2 Demanded Per Month 6,000 8,000 10,000 12,000 10,000 8,000 6,000 4,000 $1 14,0002,000 Given the table above, graph the demand and supply curves for flashlights. Make certain to label the equilibrium price and equilibrium quantity. What is the equilibrium price and the equilibrium quantity? Suppose the price is currently S5. What problem would exist in the market? What would you...
The following table represents the market for solar wireless keyboards. Plot this data on a supply and demand graph and identify the equilibrium price and quantity. Explain what would happen if the market price is set at $60, and show this on the graph. Explain what would happen if the market price is set at $30, and show this on the graph. Quantity Demanded Quantity Supplied Price $ 10.00 20.00 30.00 40.00 50.00 60.00 70.00 For each of the following...
7. Draw a diagram showing equilibrium in the market for candy. Clearly label your axes and curves. Now show the effect of a decrease in the price of sugar in the same diagram and mark the new equilibrium price and quantity. The equilibrium price of candy (increases, decreases) and the equilibrium quantity of candy (increases, decreases). 8. When a spell of bad weather results in a very large decrease in the orange crop, newspapers are likely to report "a shortage...
Help, Please with 2 questions, and please can u explain the
answer.
1. Use the model of supply and demand to explain why the prices of
vegetables after a hurricane increase more than the prices of
candies. Support your answer with a graph.
2. Analyze the effects of a taxation in this market
a) Find the values of price and quantity that guarantee a market
equilibrium (Q*,P*)
b) If the government imposes a $1 tax per unit sold, What...
Borrow a pen if you r do the not graph have and one. to answer questions Question 1: (15 points) b Dupply: S bel c) Equilibrium price: Pi d) Equiibrium quantity: Q Use the data in the table below to construct a properly labeled graph for Product A showing: (make the graph large enough to add new lines) a) Supply: Si b) Demand: Di (5 points for this part of the graph) PriceQuantity Demanded Quantity Supplied $ 1 $ 2...
Use the following information to answer questions 17 and 18: Suppose Congress cuts personal income tax rates 17. Draw a simple supply and demand graph to show how this would affect the market for refrigerators. 18. Why does this shift occur? How does that affect the equilibrium price and quantity? Explain.
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