Discussion Forum1A Practice Problems2023-3

Plot the supply curve from the supply schedule information provided. Price Quantity Supply (Qs) 1 0 2 3 3 4 4 5 5 6   (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What happens if other determinants change?   Question 2 - Learning Activity 4.2 Plot the demand curve from the demand schedule information provided. Price Quantity Demanded (QD) 1 9 2 6 3 4 4 3 5 2   (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What else do you think will happen? (e) What happens if other determinants change?

Plot the supply curve from the supply schedule information provided. Price Quantity Supply (Qs) 1 0 2 3 3 4 4 5 5 6   (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What happens if other determinants change? Question 2 - Learning Activity 4.2 Plot the demand curve from the demand schedule information provided. Price Quantity Demanded (Qd) 1 9 2 6 3 4 4 3 5 2   (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What else do you think will happen? (e) What happens if other determinants change?                 Question 1 - Learning Activity 4.4 Consider the market for minivans. Indicate the impact if any on demand, supply, price and quantity: (a) People decide to have more children. (b) A strike by steelworkers raises steel prices. (c) Engineers develop new automated…

The following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)

2. A marketing team would like to determine if the suggested retail price (SRP) of a newly released antimicrobial soap Brand ABC is still within the current market's 2.2. Market Equilibrium E Student Sheet Applied Economics General Academic Strand | Accountancy, Business, and Management QuipperSchool PREMIUM equilibrium price since demand for soap increased due to a health crisis. On a three-month average, the demand for Brand ABC is q, = 40 - P, while the supply function is q, = 5 + 2P. Using the demand and supply functions, solve for the equilibrium price and quantity of the soap. If the SRP is P35.00 per piece of Brand ABC, is the market in equilibrium?

2) Suppose that there are two types of consumers. "Type 1" consists of 10 identical consumers who each have the following individual demand curve: P=40-2Q. "Type 2" consists of 50 identical consumers who each have the following individual demand curve: P = 73 - 5Qd². a. Compute the market demand curve, where P is a function of Q, where Q- Qar+Qaz. b. Suppose the supply of this good is perfectly inelastic at a quantity of Q. = 30. Compute the market equilibrium price of this good.

Assume that demand and supply are a simple line. If at the different prices, quantity of demand and price is shows as under, then determine the demand and supply equation. Demand (D) Supply (S) Price (P) 2 40 50 5 20 60

Question one  Plot the supply curve from the supply schedule information provided . Price.                  Quality supply 1                               0 2                                3 3                                 4 4                                 5 5                                 6 a) What can you explain from the graph? b) Can you identify any determinants ? c) What happened if the price change ? d) What happened if other determinants change?     Plot the demand curve from the demand schedule information provided. Price                     Quality Demanded  1                                   9   2                                    6 3                                    4 4                                     3 5                                     2   (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What else do you think will happen? (e) What happens if other determinants change?

Question 2* (a). Prove that when the consumer is in equilibrium the marginal utility that is placed on the goods he/she consumes is equal to its price. (b). Explain how the consumer can restore equilibrium if market condition changes. (c). The demand function for a given type of product P=30-2Q find the point Price elasticity of demand when the price is 6 interpret your answer.

The following relations describe monthly demand and supply for a computer support service catering to small businesses.Q D = 3,000 - 10PQ S = -1,000 + 10Pwhere Q is the number of businesses that need services and P is the monthly fee, in dollars.a. At what average monthly fee would demand equal zero?b. At what average monthly fee would supply equal zero?c. Plot the supply and demand curves.d. What is the equilibrium price/output level?e. Suppose demand increases and leads to a new demand curve:

Plot the demand curve from the demand schedule information provided. Price Quantity Demanded (Qp) 9 2 6 3 4 5 (d) What else do you think will happen? (e) What happens if other determinants change?

The figure shows the supply and demand for online music. Suppose that an economic downturn decreases household wealth and erodes consumer confidence. Move the supply and/or demand curves to reflect the primary effect this would have on the market for online music. You can assume that online music is a normal good. Also select the end result of equilibrium price and quantity. Equilibrium price Equilibrium quantity Price ($ per track) Quantity (number of tracks) Supply Demand

QUESTION 14 If two goods are substitutes, then a(n) A increase in the demand for one of them will cause its price to fall B. increase the supply of one of them will cause its price to rise C. increase in the price of one of them will cause the demand for the other to increase D. increase in the price of one of them will cause the supply of the other to increase decrease in the price of one of them will cause the demand for the other to increase E. QUESTION 15 If the supply of coffee falls due to bad weather conditions in coffee-exporting countries, then the A price and quantity will rise B. price and quantity will fall C. price will fall and quantity will rise price will rise and quantity will fall quantity will fall, but price may rise or fall

Suppose you have the demand (schedule or curve) for bottled water for 100 individuals. In order to represent (market) demand for all 100 consumers, you should add their individual ______________ at each _____________ .  Group of answer choices prices, quantity demanded quantities demanded, price willingness to pay, price demand, quantity

skip if you already did this thank you

QUESTION 9 9. Imagine a small bakery that produces two types of bread: Whole Wheat Bread (Good A) and White Bread (Good B). Both of these bread types require similar production processes and are considered substitutes in production. The bakery has been operating in a stable market until recently. The demand for Good A (Whole Wheat Bread) increases due to a health trend that promotes whole wheat products. As a result, the increase in demand for Good A shift the a) demand curve for good B rightward. b) demand curve for good B leftward. c) supply curve of good B rightward. d) supply curve of good B leftward. (4

Question 4 Consider the market for air travel. Which of the following will occur if airport fees rise and cause the price of plane tickets to increase ? Selected Answer: Answers: D. A decrease in the Demand for air travel. A. An increase in the Quantity Demanded of air travel. B. A decrease in the Quantity Demanded of air travel. C. An increase in the Demand for air travel. D. A decrease in the Demand for air travel.

Which one of the following statements is incorrect?A. Market demand consists of the combined demand of all the participants in the market.B. The quantity demanded of a good, say a loaf of bread, depends heavily on the availability of the good.C. The quantity demanded of a good depends on the income of consumers.D. The quantity demanded of a good also depends on the prices of related goods (complements and substitutes).E. Demand decisions have to be analysed independently of the supply situation.

here is the diagram

Graphically illustrate how the demand curve for electric vehicles will be affected in each of these cases below.(a) A major climate change awareness campaign is instituted which teaches consumers about clean energy vehicles. (b) The price of gas-powered vehicles falls significantly, due to lower costs of production. (c) Gas prices experience a significant and long-standing increase.(d) The price of electric vehicles falls due to a fall in the cost of production.

Please help, this is for financial mathematics, thank you so much!!!!!

I need the answer quickly

Which of the following will not cause a good’s entire demand curve to shift? Group of answer choices: (A) A change in consumers' income. (B) A change in consumers' tastes or desires for the good. (C) A change in the availability and price of substitute goods. (D) A change in consumers' expectations. (E) A change in the current price of the good.