because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates the...
because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates the
a, demand for oranges will necessarily rise
b, equilbrium quantity of oranges will rise
c, supply of oranges has declined
d, price oranges will fall
Homework Answers
Because of unseasonably cold weather , the supply of oranges has substantially decreased, therefore , supply curve shifts to the left . And as a result of this ,price of oranges will rise . The amount of oranges that will be available at various prices has declined , i.e supply of oranges has declined. Hence,option(C) is correct.
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because of unseasonably cold weather, the supply of oranges has
substantially decreased. This statement indicates the...
1. When an economist states the supply of a product has decreased, he or she has...
1. When an economist states the supply of a product has decreased, he or she has concluded that a. a smaller quantity will be produced at every point b. the price is too high for equilibrium c. a greater quantity will be produced at every price. d. the price is too low for equilibrium e. demand was too high for producers to make a profit 2. If quantity supplied exceeds quantity demanded, a. a shortage exists and the price will...
please answer all 17. In which of the following statements are the terms demand, supply, quantity...
please answer all
17. In which of the following statements are the terms demand, supply, quantity demanded, and/or quantity supplied used correctly? a Changes in demand and supply cause changes in the equilibrium price. b. If the demand rises, supply rises. C. Oranges are cheaper in Florida and therefore the demand is greater in Florida. d. When the quantity demanded exceeds supply, the equilibrium price will rise. e. All of these 18. If a smaller quantity is supplied at each...
Suppose that unusually cold weather causes the demand curve for ice cream to shift to the...
Suppose that unusually cold weather causes the demand curve for ice cream to shift to the left. Why will the price of ice cream fall to a new market-clearing level? The cold weather wil O A. shift the supply curve to the left, initially creating a surplus until the price falls to where quantity supplied again equals quantity ○ B. cause the supply curve to become fixed, initially creating a surplus until the price falls to where quantity supplied again...
The own-price elasticity of demand for oranges is -4.5. If the price of oranges decreases by...
The own-price elasticity of demand for oranges is -4.5. If the price of oranges decreases by 2%, what will happen to the quantity of oranges demanded? a. It will rise 9% b. It will rise 2.25% c. It will fall 9% d. It will fall 2.25% SHOW ALL WORK; state your formula and insert the values given to arrive at your answer?
Question 4 1 points Save Answe Suppose a hurricane decreased the supply of oranges so that...
Question 4 1 points Save Answe Suppose a hurricane decreased the supply of oranges so that the price of oranges rose from $120 a ton to $100 a ton and quantity sold decreased from 300 tons to 240 tons. What is the absolute value of the price elasticity of demand? 0.11 0.37 2.69 9.33
Suppose Jordan is open to free trade in the world market for oranges. Because of Jordan's...
Suppose Jordan is open to free trade in the world market for oranges. Because of Jordan's small size, the demand for and supply of oranges in Jordan do not affect the world price. The following graph shows the domestic oranges market in Jordan. The world price of oranges is Pw $800 per ton. On the following graph, use the green triangle (triangle symbols) to shade the area representing consumer surplus (CS) when the economy is at the free-trade equilbrium. Then,...
please answer all the multiple choices 16 through 20 d a decrease in the supply of...
please answer all the multiple choices 16 through 20
d a decrease in the supply of leftuce an increase in the price and a decrease in the quanitity demanded Assume that pink salmon is a normal good and consumers income increases You accurately predict that in the market for pink salmon, there will be a an increase in the demand of pink salmon, an increase in the price and an increase in quantity supplied b an increase in the quantity...
37. If the demand for baseball cards rises and the supply curve does not shift, then...
37. If the demand for baseball cards rises and the supply curve does not shift, then the price a. will rise and quantity will fall b. and quantity will rise c. will fall and quantity will rise d. and quantity will fall e. will rise, but quantity may rise or fall If the supply of coffee falls due to bad weather conditions in coffee-exporting countries, then the a. 38. price and quantity will rise b. price and quantity will fall...
16. Assume that pink salmon is a normal good and consumers' income increases. You accurately predict that in the ma...
16. Assume that pink salmon is a normal good and consumers' income increases. You accurately predict that in the market for pink salmon, there will be: a. an increase in the demand of pink salmon, an increase in the price and an increase in quantity supplied. b. an increase in the quantity supplied of pink salmon, a reduction in the price and an increase in the quantity demanded. c. an increase in the demand for pink salmon, a reduction in...
Assume that pink salmon is a normal good and consumers' income increases You accurately predict that in the mar...
Assume that pink salmon is a normal good and consumers' income increases You accurately predict that in the market for pink salmon, there will be a. an increase in the demand of pink salmon, an increase in the price and an increase in quantity supplied b. an increase in the quantity supplied of pink salmon, a reduction in the price and an increase in the quantity demanded a n increase in the demand for pink salmon, a reduction in the...
please answer all
17. In which of the following statements are the terms demand, supply, quantity demanded, and/or quantity supplied used correctly? a Changes in demand and supply cause changes in the equilibrium price. b. If the demand rises, supply rises. C. Oranges are cheaper in Florida and therefore the demand is greater in Florida. d. When the quantity demanded exceeds supply, the equilibrium price will rise. e. All of these 18. If a smaller quantity is supplied at each...
Suppose that unusually cold weather causes the demand curve for ice cream to shift to the left. Why will the price of ice cream fall to a new market-clearing level? The cold weather wil O A. shift the supply curve to the left, initially creating a surplus until the price falls to where quantity supplied again equals quantity ○ B. cause the supply curve to become fixed, initially creating a surplus until the price falls to where quantity supplied again...
Question 4 1 points Save Answe Suppose a hurricane decreased the supply of oranges so that the price of oranges rose from $120 a ton to $100 a ton and quantity sold decreased from 300 tons to 240 tons. What is the absolute value of the price elasticity of demand? 0.11 0.37 2.69 9.33
Suppose Jordan is open to free trade in the world market for oranges. Because of Jordan's small size, the demand for and supply of oranges in Jordan do not affect the world price. The following graph shows the domestic oranges market in Jordan. The world price of oranges is Pw $800 per ton. On the following graph, use the green triangle (triangle symbols) to shade the area representing consumer surplus (CS) when the economy is at the free-trade equilbrium. Then,...
please answer all the multiple choices 16 through 20
d a decrease in the supply of leftuce an increase in the price and a decrease in the quanitity demanded Assume that pink salmon is a normal good and consumers income increases You accurately predict that in the market for pink salmon, there will be a an increase in the demand of pink salmon, an increase in the price and an increase in quantity supplied b an increase in the quantity...
37. If the demand for baseball cards rises and the supply curve does not shift, then the price a. will rise and quantity will fall b. and quantity will rise c. will fall and quantity will rise d. and quantity will fall e. will rise, but quantity may rise or fall If the supply of coffee falls due to bad weather conditions in coffee-exporting countries, then the a. 38. price and quantity will rise b. price and quantity will fall...
16. Assume that pink salmon is a normal good and consumers' income increases. You accurately predict that in the market for pink salmon, there will be: a. an increase in the demand of pink salmon, an increase in the price and an increase in quantity supplied. b. an increase in the quantity supplied of pink salmon, a reduction in the price and an increase in the quantity demanded. c. an increase in the demand for pink salmon, a reduction in...
Assume that pink salmon is a normal good and consumers' income increases You accurately predict that in the market for pink salmon, there will be a. an increase in the demand of pink salmon, an increase in the price and an increase in quantity supplied b. an increase in the quantity supplied of pink salmon, a reduction in the price and an increase in the quantity demanded a n increase in the demand for pink salmon, a reduction in the...
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