Hinchcliff_Megan_MAT_240_Project_Two

Table 1: Price and quantity for three types of product [Jadual 1: Harga dan kuantiti untuk tiga jenis produk] Product [Produk] Year 2017 [Tahun 2017] Price Year 2018 Year 2019 [Tahun 2018] Quantity [Kuantiti] [Tahun 2019] Price (RM) [Harga (RM)] 1.25 Quantity [Kuantiti] Price Quantity [Kuantiti) (RM) [Harga (RM)] 1. (RM) [Harga (RM)] 1 180 200 200 90 75 90 100 100 120 0.6 675 0.5 600 0.5 630 (i) Compute the values of nominal GDP in 2017, 2018 and 2019. Kirakan nilai-nilai KDNK nominal pada 2017, 2018 dan 2019.1 ABC

Question (c) &(d) Detailed calculation process

Price (dollars per unit) Price (dollars per unit) Quantity (units per month) Quantity (units per month) Figure A Figure B Price (dollars per unit) Price (dollars per unit) Quantity (units per month) Quantity (units per month) Figure C Figure D The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the largest amount of deadweight loss? O A) B B) D C) A O D) C

Price (dollars per unit) Price (dollars per unit) Quantity (units per month) Quantity (units per month) Figure A Figure B Price (dollars per unit) Price (dollars per unit) Quantity (units per month) Quantity (units per month) Figure C Figure D The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the smallest amount of deadweight loss? A) C B) D C) A D) B

A survey by Namibian statistics agency indicated that kapana is Namibian favourite. For each of the following, graphically indicate the possible effects on demand, supply or both as well as equilibrium quantity of kapana.   (a) a severe drought in Namibia causes farmers to reduce the number of cattle in their herds by a third-quarter of their stock . These farmers supply need that is used for kapana meat .   (b) a new report by the veterinary council of Namibia reveals that kapana does in fact have significant health benefits   (C) the discovery of cheaper animal feed by Neudamm Bush-to-feed that lower the price of cattle   (d) New technology that lower cattles cost of producing

Each group can select a product or service and investigate its price elasticity of demand and price elasticity of supply. Students should explore how changes in price and other factors affect the quantity demanded or supplied. They can also discuss the significance of elasticity for businesses and policy-makers. Part B: Market Analysis Conduct a market analysis of the industry the chosen product belongs to. The analysis should include the following. • market structure • key players • pricing strategies • entry barriers, and • consumer behavior in the industry of the chosen product/service. Also, discuss the implications of the market structure on competition and pricing.

Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Triple Sevens's Hotel Rooms 500 I Price (Dollars per room) 450 200 400 Quantity Demanded (Hotel rooms per night) 300 350 300 250 Demand Factors 200 150 Average Income (Thousands of dollars) Demand 50 100 Airfare from LAX to LAS (Dollars per roundtrip) 50 100 + 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Room Rate at Exhilaration (Dollars per night) 250 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Triple Sevens is charging $200 per room per night. If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of rooms demanded at the Triple Sevens from rooms per night to rooms per…

Montresor Fortunato's PED for amontillado (a pale dry sherry) is known to be 1.78 when price is measured in dollars and quantity is measured in bottles (32 oz.). What is his PED for this product if price is measured in cents and quantity in ounces?

answer #1 only :))

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What name is given to the index based on the prices of exported or imported merchandise?   a)U.S. Producer PriceIndex b)U.S. Producer TradeIndex c)International PriceIndex d)International TradeIndex

Question 1 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 machinery for the production of minivans. (d) The price of station wagons rises. (e) A stock-market crash lowers people’s wealth  sub section (D) and (E)

PROBLEM (5) (tariff) The domestic (US) demand and supply for soy is p = 80 − QD and p = QS + 10 respectively. US market is very small relative to the world market, and the world (equilibrium) price is $20. Draw one graph for the market marking all intercepts and intersections to help you with (a) and (b) below. (a) If there is NO trade, what is the CS, PS, net domestic benefits, DWL?(b) If there is free trade, what is the CS, PS, net domestic benefits, DWL? How many units are imported? Now the state imposes a tariff of t dollars per unit.(c) What should be the tariff amount t to maximize tariff revenues? In this case, what is the DWL?(d) What should be the tariff amount t so that consumers and producers equally well off (CS equals PS)? (e) What should be the tariff amount t to maximize PS?(f) What is the most efficient tariff amount t? What is the least efficient tariff amount t? (i.e. that minimizes and maximizes DWL respectively.)

M1 Assignment 3 Submission Instructions Assignment 3: Demand and Supply The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers.  A marketing research firm recently developed the following supply and demand schedules for E-books: Price/E-Book Quantity Demanded Quantity Supplied $18400010,000 1650009500 1460009000 1270008500 1080008000 990007500 8100007000 7110006500 6120006000 5130005500 4140005000 2150004500 Assignment Guidelines: Using Microsoft (MS) Excel, construct a graph showing supply and demand in the E-Book market based on the data above. (Save this file because you will re-work it later in the assignment.) When finished, copy and paste or import your graph into an MS Word document. (Tutorials for working with MS Excel and MS Word can be found through the Tutoring Services and Tutorialslink at the top of the page.) In your MS Word document, below your imported graph, respond to the following:…

listen to this The Economist, Adam ruins everything video, and a few other articles about using a market to help animal conservation using trophy hunting. Please write a 1 to 2-page paper about how the program alters how people look at different animals. Paper requirements: Size: 11 Font: Calibri Spacing: Double Length: 1-2   Paper Questions: Adam ruins everything: https://youtu.be/cQh-f1rBjx4 The Economist: https://youtu.be/9y7YFjisSTg Vice article: Link Questions you must answer, you may write a standard paper, or you can answer the following questions in bullet point form. You must write it in an easy-to-read form regardless of how you choose to do it. What is trophy hunting? Is trophy hunting the main reason animals are being killed off? Why is there demand for exotic animal parts? How does this impact animal deaths? https://www.vice.com/en/article/akgb3a/rare-rhino-horns-worth-78-million-burnt Please describe how the program works. Walk me through all the steps. What issues do…

Draw a supply and demand diagram with this information: Please include the  The price axis with a label and a scale showing various number The quantity axis with a label and a scale showing various numbers The Supply curve with a label The Demand curve with a label The equilibrium price, also labeled The equilibrium quantity, also labeled   information- Product: Sweatshirt Time period: Sweatshirts sold per week. Geographic area: Buckley Range of prices: $0-$25 Quantity Range: 1,000 sweatshirts

Question 1 (12 marks) This question is based on the following cartoon: Maximum word count: 100 words Recartoons que Just why is petrol so expensive? SUPPLY DEMAND (i) What word/words will an economist use to describe the market condition depicted in the cartoon (ii) Draw a diagram of the market for petrol that illustrates the market condition depicted in the cartoon. (ii) Explain the adjustment process to the new equilibrium position in the market for petrol.

DQ1:  Electric Vehicles and Battery Supply Chain As the automotive industry shifts toward electric vehicles (EVs), there is growing attention on the supply chain for batteries, a crucial component. Explore the relationship between supply and demand in the context of electric vehicles: How has the growing demand for electric vehicles impacted the demand for battery components? How have companies like Tesla and other automakers responded to this increased demand? Discuss the concept of supply constraints in the battery industry. How do factors like access to raw materials, technological advancements, and production capacity influence the supply of batteries for electric vehicles?   DQ2:  Think about a product or service that has undergone a dramatic increase in popularity in recent years, such as electric vehicles (EVs) or streaming services. Discuss how changes in consumer preferences and technological advancements have influenced the demand for this product or service. How have…

Question 2: Price Floors Use the tools of economic analysis to evaluate the following statement: "Higher wages help everybody. Workers are helped because they can now purchase more of the things they need. Business is helped because the increase in workers' purchasing power will increase the demand for products. Taxpayers are helped because workers will now pay more taxes. Union activities and legislation mandating a higher minimum wage will promote еconотіс progress."

Instructions: Identify four (4) scarce resources need to manage, identify the key uses of these resources. Then propose resources that may be used as substitutes for this scarce resource and propose also alternative measures to better manage this resource. Example is given below. Scarce Resource That | Key Use(s) of this Scarce Substitute Resource(s) | Alternative Measures to Need to be Managed Resource That May be Used Better Manage the Resource Fossil Fuels (Crude Oil, Transportation Coal) Energy-Saving devices (power booster) Daylight Saving Time Energy-saving Practices (putting off lights when not needed) Biogas Manufacturing Plants Solar Energy Wind Power Electric Power

Refer to the accompanying table to answer the next six questions. Quantity of Quantity of Monthly Rent Apartment Demanded Apartments Supplied $1,500 $1,550 $1,600 $1,650 136,500 78,100 112,750 83,760 107,000 100,100 98,450 87,900 94,250 $1,700 98,450 $1,750 $1,800 95,000 92,800 118,500 125,600

Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per box) 50 45 40 35 30 25 20 15 10 5 0 0 50 Supply Demand 100 150 200 250 300 350 400 450 500 QUANTITY (Millions of boxes) Graph Input Tool Market for Michigan Blueberries Price (Dollars per box) Quantity Demanded (Millions of boxes) 15 500 Quantity Supplied (Millions of boxes) (?) 210

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 machinery for the production of minivans.

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.

6. Movements along versus shifts of demand curves Consider the market demand for donuts. Complete the following table by indicating whether an event will cause a movement along the demand curve for donuts or a shift of the demand curve for donuts, holding all else constant. Event Movement Along Shift A change in the expectations of consumers about prices A decrease in the price of donuts A change in tastes of consumers that makes them desire more donuts You can use the graph below to see the difference between movements along the demand curve and shifts of the demand curve. Select and drag the point or the curve to the desired position. The point and the curve will snap into position, so if you try to move one and it snaps back to its original position, just drag it a little farther. You will not be graded on any changes you make to this graph.