Homework Answers
Ans. a
AS shifts out due to fall in price of peanuts and increase in
number of firms.
AD shifts in due to increase in price of jelly and unfavorable
effects of peanuts according to docs.
So price would fall, but effect on quantity is ambiguous.
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2 points) Assume that jelly and peanut butter are complements. What would happen to the equilibrium...
Question 10 (10 points) Knowing that peanut butter and jelly are complementary goods, what can be...
Question 10 (10 points) Knowing that peanut butter and jelly are complementary goods, what can be expected if the price of peanut butter goes up (other things being equal)? Buyers of peanut butter and jelly will move downward and to the right along the the market demand curve for peanut butter. Buyers of peanut butter and jelly will shift their demand for jelly to the left. Market price of jelly will fall. All of the above are expected to occur.
d. An decrease in the price of peanut butter and jelly QUESTION 29 If scientists discover...
d. An decrease in the price of peanut butter and jelly QUESTION 29 If scientists discover that steamed milk, which is used to make lattés, prevents heart attacks, what would happen equilibrium price and quantity of lattés? - a. The equilibrium price would decrease, and the equilibrium quantity would increase b. Both the equilibrium price and quantity would decrease. CBoth the equilibrium price and quantity would increase o d. The equilibrium price would increase, and the equilibrium quantity would decrease...
Question 6 (10 points) Suppose that the demand decreased for 4K TVs and, at the same...
Question 6 (10 points) Suppose that the demand decreased for 4K TVs and, at the same time, the supply of 4K TVs increased. What would happen in the market of 4K TVs? Equilibrium price would decrease, but the impact on the equilibrium quantity would be ambiguous Equilibrium price would increase, but the impact on the equilibrium quantity would be ambiguous Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous Equilibrium quantity would increase, but the impact...
Question 1 Other things remain unchanged, the market demand curve for a particular...
Question 1 Other things remain unchanged, the market demand curve for a particular expected to shift leftwards when the price of that product declines. . True False Question 2 Other things remain equal, which of the following factors causes the market supply curve of Blue-ray players to shift leftwards? The costs of producing a single Blue-ray player increases. The number of firms selling Blue-ray players increases. The sellers are expecting the price of Blue-ray players to decline in the soon future. Non of the above factors causes the...
This question focuses on the idea of cross price elasticity (in effect, peanut butter and jelly)...
This question focuses on the idea of cross price elasticity (in effect, peanut butter and jelly) and the idea of complements and substitutes. We analyze data to see how the price of one product will affect the demand for another product. If your company produced Pallets, and you are provided analysis such that the demand for Pallets is estimated to be Qa= 1000 – 0.75pa+ 12pX – 21pZ + 0.12Y Note that pa= 80, pX= 50, pZ= 150, and Y...
Other things remain unchanged, the market demand curve for a particular product is expected to shift leftwards when the price of that product declines.
Other things remain unchanged, the market demand curve for a particular product is expected to shift leftwards when the price of that product declines.Question 1 options:TrueFalseQuestion 2Other things remain equal, which of the following factors causes the market supply curve of Blue-ray players to shift leftwards?Question 2 options:The costs of producing a single Blue-ray player increases.The number of firms selling Blue-ray players increases.The sellers are expecting the price of Blue-ray players to decline in the soon future.Non of the above...
1. How does a market reach its equilibrium? What will happen if the market is not...
1. How does a market reach its equilibrium? What will happen if the market is not at the equilibrium and how to achieve the equilibrium back? (Based on the key terms: equilibrium price, equilibrium quantity, surplus and shortage). Question 2. What can cause a movement along a fixed demand curve and what causes shifts in the demand curve? (Based on key terms: determinants of demand). Question 3. What is the relationship between apple juice and orange juice? (hint: substitute or...
ECON 1150
The year 2014 was a perfect storm in the hazelnut industry: terrible weather and blights reduced crops. People in China started eating large numbers of hazelnuts, and recent information on the health benefits of these nuts increased domestic demand. Not too surprisingly, the price of hazelnuts has increased over 60%.a.) Hazelnuts are a key ingredient for Ferrero's Nutella. In a graph draw the cost curves for ferrero's nutella production before and after the rise in hazelnut prices.b.) There were no...
Question 2. What can cause a movement along a fixed demand curve and what causes shifts...
Question 2. What can cause a movement along a fixed demand curve and what causes shifts in the demand curve? (Based on key terms: determinants of demand). Question 3. What is the relationship between apple juice and orange juice? (hint: substitute or complements). If the price of apple juice increases, then what will happen in the market of orange juice and in the market for apple juice itself? (hint: refer to the difference between quantity demanded and demand and shifts...
Just need question 5 to 10 What will happen in the domestic market to the equilibrium...
Just need question 5 to 10
What will happen in the domestic market to the equilibrium market price and equilibrium market quantity of strawberries in eachyof the following situations? (+increase; decrease; 0 = no change; ?-indeterminate). Assume that all goods mentioned are normal goods. Price Quantity The economy experiences a recession; the government introduces a subsidy for strawberryfarmers. 1. 1. + - A strawberry jam manufacturer, who produces only for export, opens a plant in the area; raspberries, a production...
Question 10 (10 points) Knowing that peanut butter and jelly are complementary goods, what can be expected if the price of peanut butter goes up (other things being equal)? Buyers of peanut butter and jelly will move downward and to the right along the the market demand curve for peanut butter. Buyers of peanut butter and jelly will shift their demand for jelly to the left. Market price of jelly will fall. All of the above are expected to occur.
d. An decrease in the price of peanut butter and jelly QUESTION 29 If scientists discover that steamed milk, which is used to make lattés, prevents heart attacks, what would happen equilibrium price and quantity of lattés? - a. The equilibrium price would decrease, and the equilibrium quantity would increase b. Both the equilibrium price and quantity would decrease. CBoth the equilibrium price and quantity would increase o d. The equilibrium price would increase, and the equilibrium quantity would decrease...
Question 6 (10 points) Suppose that the demand decreased for 4K TVs and, at the same time, the supply of 4K TVs increased. What would happen in the market of 4K TVs? Equilibrium price would decrease, but the impact on the equilibrium quantity would be ambiguous Equilibrium price would increase, but the impact on the equilibrium quantity would be ambiguous Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous Equilibrium quantity would increase, but the impact...
Just need question 5 to 10
What will happen in the domestic market to the equilibrium market price and equilibrium market quantity of strawberries in eachyof the following situations? (+increase; decrease; 0 = no change; ?-indeterminate). Assume that all goods mentioned are normal goods. Price Quantity The economy experiences a recession; the government introduces a subsidy for strawberryfarmers. 1. 1. + - A strawberry jam manufacturer, who produces only for export, opens a plant in the area; raspberries, a production...
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