AEC 2317_HA_3_ch3_WEB-BASED

Question 4 and pr If a website facilitates the sale of goods by individuals and businesses over the internet, but requires actual pho to be posted instead of a manufacturer's stock picture of the product, both the demand and supply of products shift due to the improved information. If supply shifts by more than demand, quantity will decrease, increase O increase, decrease increase, be indeterminate O decrease, be indeterminate

Multiple choice Question one3 Carefully explain what is happening in the following market. Indicate the impact , if any on demand, supply,price and quantity. Chose from the following what will happen to each ; increase towards equilibrium, no impact,excess supply, change in price uncertain, decrease equilibrium quantity, increase equilibrium price, change in quantity uncertain, decrease towards equilibrium, decrease equilibrium price, shift outward to right, shift inwards to left , excess demand , increase towards equilibrium. 1a) In Academics year 2020/21 , the university of the west indies mandated that all students must take principles and economics as a core requirement for their major. Concurrently , the university bookshop made their order for the principle and economics text books based on the number of registered students in the last academic year (2019/2020).1b) The price of input for the production of BrandX handbags have increased .Concurrently, taste and preferences has…

Question 3 – 25% During the Christmas holiday season, the price of Christmas trees increases and the quantity demanded for trees also increases. Does it reflect change in quantity demanded or change in demand? Support your answer with the use of a diagram. Label your diagram with appropriate variables on X axis and Y axis.

1. Each of the following events would tend to increase or decrease either the demand for or the supply of electronic games and, as a result, will increase or decrease the price of these games. In the first blank, indicate the effect on demand or supply (increase, decrease); in the second blank, indicate the effect on price (increase, decrease). Assume that the market for electronic games is competitive. a)  It becomes known by consumers that there is going to be a major sale on these games one month from now. _____________________________________, _________________________________ b)  The workers in the electronic games industry receive a $3 an hour wage increase. _____________________________________, _________________________________ c)  It is announced by a respected research institution that children who play electronic games also improve their grades in school. _____________________________________, _________________________________ d)  Because of an increase in…

Scenario 2: The Ministry of health publishes a study finding that coffee drinking reduces the probability of getting cancer.  How do you imagine this will affect the market for coffee? Why?  Which determinant of demand or supply is being affected? Explain. Show graphically the changes in demand or supply.  Will this change the equilibrium price and quantity of coffee? Explain your reasoning.

Draw a graph that indicates what happens in the market for hybrid cars when the price of gasoline increases from $2.50 to $5.00 per gallon. Answer the following questions: a) Does equilibrium output rise or fall? b) Does equilibrium price rise or fall? c) Suppose the supply of hybrid cars is perfectly inelastic. Draw a new graph and explain if and how the elasticity of supply changes your answers to parts “a” and “b”. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

09. Which of the following statements is False?     a) Supply is a relationship between price and quantity.     b) Demand represents the willingness and ability of buyers to buy quantities of a good at various prices.     c) The demand relationship represents the specific quantity of a good demanders have bought.     d) All of the above     e) None of the above

Q4 Which of the following statements about the consumers’ responses to rising gasoline prices is correct?   Because gasoline is a necessity, consumers do not decrease their quantity demanded in either the short run or the long run.     About 10 percent of the long-run reduction in quantity demanded arises because people drive less and about 90 percent arises because they switch to more fuel-efficient cars.    About 90 percent of the long-run reduction in quantity demanded arises because people drive less and about 10 percent arises because they switch to more fuel-efficient cars.    About half of the long-run reduction in quantity demanded arises because people drive less and about half arises because they switch to more fuel-efficient cars.

Back to Assignment Attempts:                   Do No Harm:    / 2   2. Demand terminology Complete the following table by selecting the term that matches each definition. Definition Quantity Demanded Demand Curve Demand Schedule Law of Demand A graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices           The amount of a good that buyers are willing and able to purchase at a given price           The claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises           A table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices             Apply your understanding of the previous key terms by completing the following scenario with the appropriate terminology. Your…

Directions: Please answer the following two questions (one paragraph for each should suffice, but the best answers will include appropriate diagrams): A) With reference to two different determinants of demand, explain why the demand for Levis jeans might decrease (shift inwards or to the left). B) With reference to the determinants of supply, choose a product you would be likely to buy at your favorite store (e.g. an iPhone at the Apple store) and discuss two or more reasons why the store would increase their supply of your chosen product.

1. With both words and diagrams analyze the effects on equilibrium price and quantity when         a. demand is negatively sloped, supply is perfectly inelastic, and demand increases       b. demand is negatively sloped, supply is quite elastic, and demand decreases       c. demand is perfectly elastic, supply is positively sloped, and supply increases       d. demand is quite inelastic, supply is positively sloped, and supply decreases

Q30 The theory of consumer choice   underlies the concept of the supply of a particular good.    can be applied to many questions about household decisions, but it cannot be applied to questions concerning wages and labor supply.    underlies the concept of the demand for a particular good.   ignores, for the sake of simplicity, the trade-offs that consumers face.

explain how and when demand and supply have changed (shifted) for online shopping. Provide examples of historical or current events where market demand and market supply for online shopping have shifted significantly, and state the factors that you believe have caused the shift in supply and/or in demand.

Which one of the following statements is correct?A. “Demand” and “claim” have the same meaning.B. To demand a good requires only a desire to possess the good.C. Demand relates to plans, not to events that have occurred already.D. “Demand” and “need” have the same meaning.E. Demand refers to the quantities that consumers bought recently

There has been explosive growth in the demand for the green leafy vegetable kale in recent years as consumers learned of its health benefits. The demand curve has shifted significantly rightward.​ However, the price of a bunch of kale in the grocery store has been fairly stable. Draw a supply and demand diagram showing the market for​ kale, and show how the price of kale could remain stable in the face of such an enormous growth in demand. ​1.) please plot the new supply and demand curves on a diagram and label the lines properly.   ​2.) please also indicate the new equilibrium point at the same price as the original equilibrium and label it.