Homework Answers
E is the right answer.
As the supply of raspberries decrease, the supply curve of raspberries shifts towards left. This creates buyers competition in the market as the situation of excess demand has been created. This leads to increase in price of the raspberries in the market.
As raspberries and blackberries are substitute goods, and the price of raspberries increase due to shortage of supply, this shifts the demand of people towards blackberries, and the demand curve of blackberries shifts towards right. This again creates a situation of excess demand in the market. This leads to increase in price of the blackberries in the market.
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10. If raspberries and blackberries are subeiitutes and a new crop disease were 3o ihe limit...
D Question 1 1 pts Consider the market for raspberries in Australia. Which of the following...
D Question 1 1 pts Consider the market for raspberries in Australia. Which of the following would most likely lead to a decrease in demand O A decrease in the price of gooseberries, a substitute for raspberries. An increase in the price of blueberries, a complement for raspberries A decrease in income if raspberries are an inferior good. O A severe frost that destroys most of the Tasmanian raspberry crop. Both a and b are correct. DI Question 2 1...
New Mexico, Oklahoma and Texas are known for growing peanuts. Imagine that a new disease attacks ...
New Mexico, Oklahoma and Texas are known for growing peanuts. Imagine that a new disease attacks the peanut plants and damages a large part of the crop. What happens to the consumer surplus in the market for peanuts and for peanut butter as a result of this change? Consumer surplus in the market for peanuts increases, and the consumer surplus in the market for peanut butter increases. Consumer surplus in the market for peanuts increases, and the consumer surplus in...
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...
18. Before there were charitable trusts in England, it was a common practice for the rich...
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8. Before there were charitable trusts in England, it was a common practice for the rich...
8. Before there were charitable trusts in England, it was a common practice for the rich to buy all available grain in years of bad (low) harvest, and then sell it back to the poor at half price. The poor were allowed to buy as much as they wanted at this reduced price. For this question, let's assume that three things are true the poor are the only ones who consume grain, they end up buying as much as they...
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...
Consider the following limit order book for a share of stock. The last trade in the...
Consider the following limit order book for a share of stock. The last trade in the stock occurred at a price of $140. Limit Buy Orders Price Shares $139.75 700 139.70 1,000 139.65 700 139.60 200 138.65 800 Limit Sell Orders Price Shares $139.80 125 139.85 125 139.90 350 139.95 125 a. If a market buy order for 125 shares comes in, at what price will it be filled? (Round your answer to 2 decimal places.) Best price b. At...
Suppose that your company has just developed a new screening test for a disease and you...
Suppose that your company has just developed a new screening test for a disease and you are in charge of testing its validity and feasibility. You decide to evaluate the test on 1000 individuals and compare the results of the new test to the gold standard. You know the prevalence of disease in your population is 30%. The screening test gave a positive result for 292 individuals. Two hundred eighty-five (285) of these individuals actually had the disease on the...
A dominant disease causes illness starting in middle age, reducing reproductive success by 10% on average....
A dominant disease causes illness starting in middle age, reducing reproductive success by 10% on average. A new treatment is developed that prevents any effects of the disease in heterozygotes; however, homozygotes for the deleterious allele still suffer the 10% reduction in reproductive success. Assume that the deleterious allele was at equilibrium before the treatment, and that the treatment is made available to everyone who needs it. After a long time, how will the frequency of the allele have changed?...
. Assume that a 10-year Treasury bond has a 12% annual coupon, while a 15-year T-bond...
. Assume that a 10-year Treasury bond has a 12% annual coupon, while a 15-year T-bond has an 8% annual coupon. Assume also that the yield curve is flat, and all Treasury securities have a 10% yield to maturity. Which of the following statements is CORRECT? a. If interest rates decline, the prices of both bonds will increase, but the 10-year bond would have a larger percentage increase in price. b. If interest rates decline, the prices of both bonds...
D Question 1 1 pts Consider the market for raspberries in Australia. Which of the following would most likely lead to a decrease in demand O A decrease in the price of gooseberries, a substitute for raspberries. An increase in the price of blueberries, a complement for raspberries A decrease in income if raspberries are an inferior good. O A severe frost that destroys most of the Tasmanian raspberry crop. Both a and b are correct. DI Question 2 1...
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...
18. Before there were charitable trusts in England, it was a common practice for the rich to buy all available grain in years of bad (low) harvest, and then sell it back to the poor at half price. The poor were allowed to buy as much as they wanted at this reduced price. For this question, let's assume that three things are true the poor are the only ones who consume grain, they end up buying as much as they...
8. Before there were charitable trusts in England, it was a common practice for the rich to buy all available grain in years of bad (low) harvest, and then sell it back to the poor at half price. The poor were allowed to buy as much as they wanted at this reduced price. For this question, let's assume that three things are true the poor are the only ones who consume grain, they end up buying as much as they...
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...
Consider the following limit order book for a share of stock. The last trade in the stock occurred at a price of $140. Limit Buy Orders Price Shares $139.75 700 139.70 1,000 139.65 700 139.60 200 138.65 800 Limit Sell Orders Price Shares $139.80 125 139.85 125 139.90 350 139.95 125 a. If a market buy order for 125 shares comes in, at what price will it be filled? (Round your answer to 2 decimal places.) Best price b. At...
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