The price of apples has recently fallen in the marketplace. From this information, we can safely...
| The price of apples has recently fallen in the marketplace. From this information, we can safely predict that: | |||||||||
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Homework Answers
A decrease in the supply or an increase in the demand will increase the price and so will the shortage where the demand is more than the supply.
The answer is "C" , if there is a surplus then the supply is more than the demand and that will lead to a fall in the price.
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The price of apples has recently fallen in the marketplace.
From this information, we can safely...
Assume that the price for swimming pool maintenance services has risen and sales of these services have fallen. One can conclude that
Assume that the price for swimming pool maintenance services has risen and sales of these services have fallen. One can conclude that A) the law of supply has been violated. B) the demand for swimming pool maintenance services has increased. C) the supply of swimming pool maintenance services has decreased. D) swimming pool maintenance services are becoming more technologically advanced.
1.The local government has set a maximum price on city rents that is above the equilibrium...
1.The local government has set a maximum price on city rents that is above the equilibrium rent. Now there is an increase in the demand for apartments. What would we expect to see? A. An increase in the price of apartments B. A decrease in the price of apartments C. A decrease in the quantity of apartments rented D. A shortage of apartments 2.Government action can have a direct effect all except which of the following? A. Price ceilings B....
Suppose the price of apples rises from $20 t the price of apples rises from $20...
Suppose the price of apples rises from $20 t the price of apples rises from $20 to $22 per box and quantities increased from to 1200 boxes. Calculate the price elasticity of supply using the mid-point formula. When the price of Ford pickup trucks rises from $18,000 to $19,000, the quantity of Chevy trucks demanded increases from 112,000 to 144,000. Using the midpoint method, what is the cross elasticity of demand between Ford and Chevy trucks?
The figure to the right illustrates the market for apples in which the government has imposed...
The figure to the right illustrates the market for apples in which the government has imposed a price floor of $12 per crate. How many crates of apples will be sold after the price floor has been imposed? 12 million crates of apples per year. (Enter your response as an integer.) Will there be a shortage or surplus? If there is a shortage or surplus, how large will it be? There will be a surplus of 18 million crates of...
The average price for personal computers has recently decreased from $300 to $250. As a result,...
The average price for personal computers has recently decreased from $300 to $250. As a result, the quantity of personal computers bought has increased by 20 percent. What would be the price elasticity of demand for personal computers?
The market price of calzones in a college town decreased recently, and the students in an...
The market price of calzones in a college town decreased recently, and the students in an econamics dlass are debating the cause of the price decrease. Some students suggest that the price decreased because the price of dough, an important ingredient other students attribute the decrease in the price of calzones to a recent increace in the price of beer. Everyone agrees that the increase in the p of beer was caused by a recent increase in the price of...
The market price of hamburgers in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease
The market price of hamburgers in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease. Some students suggest that the price decreased because several new burger joints have recently opened in the area. Other students attribute the decrease in the price of hamburgers to a recent decrease in college student enrollment. The first group of students thinks the decrease in the price of hamburgers is due to the fact that...
The market price of pizzas in a college town decreased recently, and the students in an economics class are debating the cause of the price decre:
The market price of pizzas in a college town decreased recently, and the students in an economics class are debating the cause of the price decre: Some students suggest that the price decreased because the price of dough, an important ingredient for making pizzas, has decreased. Other students attribute the decrease in the price of pizzas to a recent increase in the price of beer. Everyone agrees that the increase in the price of be was caused by a recent increase...
(8 points) A small nation permits free trade in good X. At the good's free-trade price...
(8 points) A small nation permits free trade in good X. At the good's free-trade price of $8, domestic firms supply 6 million units and imports account for 4 million units. Recently, the smal country has erected trade barriers with the result that imports have fallen to zero, price has risen to $10, and domestic supply has increased to 8 million units. Calculate the change in consumer surplus and producer surplus resulting from the trade barrier. What is the deadweight...
Exhibit 7. Suppose that in a recent market period, the following relationship existed between the price...
Exhibit 7. Suppose that in a recent market period, the following relationship existed between the price of tablet devices and the quantity supplied and quantity demanded. Price 5330 $340 $350 S360 Quantity Demanded 100 million 90 million 80 milliorn 70 million Quantity Supplied 40 million 60 million 80 million 100 million S370ich 29-Graph the supply and demand curves for tablet devices using the information in the table. What are the equilibrium price and 60 million 120 million quantity? 30- In...
Suppose the price of apples rises from $20 t the price of apples rises from $20 to $22 per box and quantities increased from to 1200 boxes. Calculate the price elasticity of supply using the mid-point formula. When the price of Ford pickup trucks rises from $18,000 to $19,000, the quantity of Chevy trucks demanded increases from 112,000 to 144,000. Using the midpoint method, what is the cross elasticity of demand between Ford and Chevy trucks?
The figure to the right illustrates the market for apples in which the government has imposed a price floor of $12 per crate. How many crates of apples will be sold after the price floor has been imposed? 12 million crates of apples per year. (Enter your response as an integer.) Will there be a shortage or surplus? If there is a shortage or surplus, how large will it be? There will be a surplus of 18 million crates of...
The market price of calzones in a college town decreased recently, and the students in an econamics dlass are debating the cause of the price decrease. Some students suggest that the price decreased because the price of dough, an important ingredient other students attribute the decrease in the price of calzones to a recent increace in the price of beer. Everyone agrees that the increase in the p of beer was caused by a recent increase in the price of...
(8 points) A small nation permits free trade in good X. At the good's free-trade price of $8, domestic firms supply 6 million units and imports account for 4 million units. Recently, the smal country has erected trade barriers with the result that imports have fallen to zero, price has risen to $10, and domestic supply has increased to 8 million units. Calculate the change in consumer surplus and producer surplus resulting from the trade barrier. What is the deadweight...
Exhibit 7. Suppose that in a recent market period, the following relationship existed between the price of tablet devices and the quantity supplied and quantity demanded. Price 5330 $340 $350 S360 Quantity Demanded 100 million 90 million 80 milliorn 70 million Quantity Supplied 40 million 60 million 80 million 100 million S370ich 29-Graph the supply and demand curves for tablet devices using the information in the table. What are the equilibrium price and 60 million 120 million quantity? 30- In...
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