1.) I will be analyzing the market of gas. There has been a rescission of gas due to an uprising in energy supplies and widespread energy crisis. This caused such a high demand of gas, because of the high demand in gas the prices skyrocketed to average $3.50 per gallon. A.) Describe how supply side of the market is affected.? B.) In which direction (to the right or to the left) will the demand curve shift? or the supply curve? C.) will prices and quantity in equilibrium be higher or lower?
Q: . If there is a technological advance that leads to an increase in investment demand, then:
A: With technological advancement the demand for investment grew, this would mean that consumer would…
Q: Explain why the government spending (G) component of GDP falls short of actual government…
A: Introduction The value of all the goods and services generated in an economy during a specific…
Q: it is only one choice!!!!
A: Equilibrium in the labor market requires that that the marginal revenue product of labor must be…
Q: Complete the following table by indicating whether an event will cause a movement along the demand…
A: Demand curve is the downward sloping curve. Rightward shift in demand is when there is change in…
Q: Which international organisation is responsible for the System of National Accounts (SNA)?
A: The System of National Accounts (SNA) is maintained by the United Nations (UN), more specifically…
Q: Suppose that you graph nations' health expenditures against income and see that the US's point lies…
A: Health economics is essential because it investigates how stakeholders' and recipients' economic…
Q: Kimiko is planning a party to celebrate her birthday. She has decided to serve sushi and yakitori…
A: ***Since the following question have not been provided, hence, the expert is required to solve only…
Q: Explain the statement. Whether true or false. Consumer future expectations plays an significant…
A: Future expectations held by customers are their opinions or projections about how the economy, their…
Q: adie T.M. Alexander (1898-1989) was the first black woman in the U.S. to receive a PhD in Economics…
A: The unequal distribution of income among people or households within a society or between societies…
Q: Suppose Madison operates a handicraft pop-up retail shop that sells rompers. Assume a perfectly…
A: A perfectly competitive firm is a price taker and can sell any quantity of the commodity at the…
Q: Republika UPLB has 50 workers. It produces only coffee and white cheese. The production of these two…
A: Production Possibility Frontier (PPF) is a graphical representation of the maximum output that can…
Q: Part 1 Using this information, Create a line plot of the solutions with the price of good Y on the…
A: Utility function: The utility function gives the sets of all those consumption bundles that offer…
Q: a. Illustrate the impact on equilibrium price and quantity of the following: i. Market for laptops…
A: Equilibrium price is that price where quantity demand by the consumer equals the supply of that…
Q: What are the components of economic growth? How does PPF is used to depict the economic growth of a…
A: Economic growth portrays an expansion in the amount and nature of the economic labor and products…
Q: Suppose there are four villagers who can either raise sheep or bake bread. A sheepherder must buy a…
A: In economics, common property rights are generally referred to as common pool resources,, they are a…
Q: A firm produces output via the function: Q = L - (L2/800), where Q is the output per week and L is…
A: Given information: Q = L - (L2 / 800) -----------> Production function. Where Q is the output…
Q: Suppose the economy has only three goods and that the base year is 2015. Year Price of Burgers…
A: Nominal GDP refers to the value of goods and services that are produced within the country at…
Q: A city water district wants to encourage local businesses and homeowners to landscape with…
A: A subsidy is a payment made by a government or organization to support a particular activity or…
Q: Which is better, depositing money with a compound annual interest (10%), and the calculation is…
A: Compound interest will be interest determined on the underlying head, which additionally…
Q: What would happen to the equilibrium price of remote-controlled drones if the price of batteries…
A: The two related goods can be either substitutes or complementary. Change in price of one good…
Q: Two processes can be used for producing a polymer that reduces friction loss in engines. Process T…
A: In the present worth analysis, we convert all the costs and benefits into the present worth and then…
Q: Republika UPLB has 50 workers. It produces only coffee and white cheese. The production of these two…
A: In 2 goods case, the use of inputs is efficient when it is not possible to increase the production…
Q: What are the usual steps in Benefit – Cost Analysis? a) Try to figure out what result or conclusion…
A: To determine the most cost-effective option, a cost-benefit analysis (CBA) is a procedure that…
Q: Suppose that the demand function for aluminum is: Q = 20 0.2p, where p is the price paid by…
A: Equilibrium is where demand equals supply. Demand curve is the downward sloping curve. Supply…
Q: Assume that a monopolist sells a product with a total cost function: TC= 1,200 +0.502. The market…
A: Monopolist: A monopolist is a single seller in the market and hence he faces the downward sloping…
Q: the graph input tool to help you answer the following questions. You will not be graded on any…
A: The quantity of labour demanded is computed by locating the amount corresponding to the wage rate on…
Q: Question #1 a. For the following three cases, calculate i: The marginal revenue curve ii: The level…
A: Given: Case A Case B Case C Demand: P = 40 − Q Demand: P = 100 − 2Q Demand: P = 100 − 2Q…
Q: Explain the various trends in the Trade and Development Report (2020)
A: Economic development projects include infrastructure improvements, education, public safety, and a…
Q: A streaming service charges one fee ($500) for a 2-year subscription. If a 12% nominal annual…
A: Given Streaming service charge for 2 year subscription = $500 This implies the present value P=500…
Q: Identify and briefly explain 2 advantages and 2 disadvantages of government legislated rent control.…
A: An upper limit on what a landlord can charge for renting out a property or renewing a lease is…
Q: Rent seeking: The following graph shows the demand, marginal revenue, marginal cost curves for a…
A: Monopoly A monopoly is indeed a market condition where one manufacturer or seller holds the majority…
Q: Consider the following. (Use the FHA Maximum Loan Values by State table.) Sale Price State…
A: The stipulated minimal sum of money needed to purchase or invest in a security, asset, or…
Q: Use a graph to show the impact on the price of Japanese cars sold in the United States if the United…
A: Limitations on trade also apply to the number of commodities that may have been purchased during a…
Q: At an output level of 100 units a firm has average total costs of $80 and average variable costs of…
A: Fixed costs are defined as those costs involved in the process of production which are independent…
Q: 29. Total fixed costs of production in the short run: A. Cannot be reduced by producing less output…
A: The cost of production refers to the expenses incurred in the process of creating a good or service.…
Q: I'm doing economics homework and the question is asking; If a bank has $150 million in deposits and…
A: The amount of money that a commercial bank must keep in reserve to the amount of money it has on…
Q: What multiplier would you use to work out a decrease of 20%?
A: A multiplier in economics describes the connection between changes in an exogenous variable, such as…
Q: When the price of A increase by 30%, the consumption of the good decreased by 10%, what is the price…
A: The price elasticity of demand (Ed) depicts the degree of responsiveness of the quantity demanded…
Q: Question 3 According to the following Figure, please answer a-f P 16 12 45 8 5 2 · * * . * 8 D Q 20…
A: 3) The term "equilibrium" refers to a circumstance wherein demand equals supply, or in which a…
Q: Explain the difference between the deficit and the national debt. Why do some believe that the…
A: Debt-to-GDP ratio is an important economic measure that helps to compare the debt of a nation and…
Q: At the threat point, the union has payoff ___ and the firm has payoff ____. At outcome A, the…
A: The above diagram shows - • On Y-axis(Vertical Axis) Starting point (0,4),(0,14) (Approximation) •…
Q: 4. "The frost in Northern Florida is warming the hearts of Texas Orange growers. Due to the…
A: While supply refers to the total amount of a product made accessible on the market, demand is…
Q: what is the answer for d and e
A: Given information: Y = 9K1/3L2/3 ---------> Production function. Where K is aggregate capital…
Q: K- right represents the market for DVDs The value of consumer surplus is $40 million (Enter your…
A: Dead weight loss: It is defined as the loss of total welfare (or the total surplus = consumer…
Q: Firm Market Share (%) A 20 B 20 C 20 D 20 E 10 F 10 Refer to the data. If all the firms in the…
A: The Herfindahl index is a measure of market concentration that takes into account the market share…
Q: Suppose that the price elasticity of demand for peanut butter is 1.5 in the short-run and 2 in the…
A: Elasticity is calculated as percentage change in quantity divided by percentage change in price.…
Q: At i = 10% per year, find the present worth (PT) of the following cash follow $300 A=$500 $700 t 0 1…
A: The present worth of a cash inflow or outflow refers to its current value in accordance with its…
Q: During the course of a year, the labor force consists of the same 1,207 people. Of these, 59 lack…
A: Natural rate of unemployment: The active participants of the labor force who do not have a job or…
Q: Assuming a $7 per unit tax is imposed, the new price to sellers will be $______.
A: The imposition of tax will shift the supply curve to the left by the amount of tax at each unit of…
Q: What is the money multiplier with a reserve requirement of 15%?
A: Introduction The money multiplier is a concept used in macroeconomics to measure the maximum…
1.) I will be analyzing the market of gas. There has been a rescission of gas due to an uprising in energy supplies and widespread energy crisis. This caused such a high
A.) Describe how supply side of the market is affected.?
B.) In which direction (to the right or to the left) will the demand curve shift? or the supply curve?
C.) will prices and quantity in equilibrium be higher or lower?
Step by step
Solved in 5 steps with 1 images
- 1. An increase in the expected price of oil would likely A. increase both the current demand and the current supply of oil. B. decrease both the current demand and current supply of oil. C. increase the current demand but decrease the current supply of oil. D. increase the current supply but decrease the current demand of oil. E. not affect the current demand nor current supply of oil. 2. Which of the following will not shift a supply curve of a good? A. A change in the price of relevant resources used to produce the good. B. A change in the good's price. C. A change in the technology used in producing the good. D. A change in the number of sellers of the good. E. A change in taxes affect this good's industry.A key skill in economics is the ability to use the theory of supply and demand to analyze specific markets. With this assignment, you get a chance to demonstrate your ability to apply what you have learned to the coffee market. Be sure to answer all parts of each of the scenarios below. Students may utilize Paint, Word (the shapes tool under Insert), OneNote (Draw tab), or hand draw the graphs. Scenario 1: Suppose that the FDA increases regulations for coffee. Will this affect the supply or demand for coffee? Why? Which determinant of demand or supply is being affected? Show graphically with before and after curves on the same axes. How will this change affect the equilibrium price and quantity of coffee? Explain your reasoning. Scenario 2: Suppose the Mayo publishes a study finding that the caffeine in coffee increases the probability of getting Alzheimer’s. How do you imagine this will affect the market for coffee? Which determinant of demand or supply is being affected? Show…QUESTIONS: Scenario 1: As part of an international trade agreement, the Oman government reduces the tax on imported coffee. a. Will this affect the supply or the demand for coffee? Why? b. Which determinant of demand or supply is being affected? Explain. c. Show graphically the effect of changes in demand or supply. d. How will this change the equilibrium price and quantity of coffee? Explain your reasoning. Scenario 2: The Ministry of health publishes a study finding that coffee drinking reduces the probability of getting cancer. a. How do you imagine this will affect the market for coffee? Why? b. Which determinant of demand or supply is being affected? Explain. c. Show graphically the changes in demand or supply. d. Will this change the equilibrium price and quantity of coffee? Explain your reasoning.
- A market consists of groups of buyers and sellers of a good or service. Market equilibrium represents the price at which the quantity of goods supplied is balanced with the number of goods consumers are willing and able to buy. Consider the market for coffee: Assume first that there is a heatwave that damages a large portion of coffee beans. Describe how this would affect equilibrium in the market for coffee. Specifically, does demand or supply shift, in which direction, and what is the effect on equilibrium price and quantity? Last, extend your analysis to the long run, a period of time long enough for new coffee growers to enter the market or for existing growers to exit the market. How might equilibrium price and quantity in the market for coffee be affected when enough time is allowed for a change in the number of sellers in the market?1) Consider the market for tires. Suppose the price of raw rubber increases. What is the expected effect in the market for tires? Group of answer choices the equilibrium price will rise; equilibrium quantity will fall the equilibrium price will fall; equilibrium quantity will rise the equilibrium price will fall; equilibrium quantity will fall the equilibrium price will rise; equilibrium quantity will rise 2) Consider the market for tires. Suppose the price of gas drops and remains low for many years. Consequently, people drive more often. What is the expected effect in the market for tires? Group of answer choices the equilibrium price will rise; equilibrium quantity will fall the equilibrium price will fall; equilibrium quantity will rise the equilibrium price will fall; equilibrium quantity will fall the equilibrium price will rise; equilibrium quantity will rise 3)The diagram below represents the market for battery packs. The equilibrium price and…Question 1 (a) Assume that the markets for sugar cane, rum and whiskey are initially in equilibrium (i.e., supply equals demand in each case). Assume further that a good harvest impacts the world’s sugar cane crop. Sugar cane is a principal ingredient in rum, but it is not an ingredient in whiskey. Rum and whiskey are substitutes in consumption.(ii) Discuss the effect on the markets for each of the three products if the government implements a price restriction in the sugar cane market with the aim of protecting the farmers. How will this impact the revenues for sugar growers, rum producers and whiskey producers?
- Hello, I only need the answer to the last question that is in BOLD. A market consists of groups of buyers and sellers of a good or service. Market equilibrium represents the price at which the quantity of goods supplied is balanced with the number of goods consumers are willing and able to buy. Consider the market for coffee: Assume first that there is a heatwave that damages a large portion of coffee beans. Describe how this would affect equilibrium in the market for coffee. Specifically, does demand or supply shift, in which direction, and what is the effect on equilibrium price and quantity? Next, assume there is a new study that finds enormous health benefits to coffee consumption. Again, describe how this would affect equilibrium in the market for coffee. Specifically, does demand or supply shift, in which direction, and what is the effect on equilibrium price and quantity? Now, extend your analysis to what might happen if both of these events (weather which damages coffee beans…What would happen in a market if at the same time we had a rise in the supply and a drop in the demand (assume that the laws of demand and supply apply)? Question 9 options: The equilibrium price would definitely increase The equilibrium price would definitely decrease The equilibrium quantity would definitely increase The equilibrium quantity would definitely decrease Please correct and incorrect answer explanation Note:- Please don't simply copy and paste content from other AI tools or bots, or else I may have to downvote your actions. Do not provide the handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.1. New advances in recycling technology reduce the cost of producing paper made from recycled material. SELECT THE CORRECT ANSWER a. Which of the following will occur in the market for paper made from recycled material? -supply will decrease -supply will increase -demand will decrease -demand will increase b. Will the advancement in recycling technology result in a shortage or surplus of paper made from recycled material at the previous price? Will the price of paper made from recycled material rise or fall? -surplus, rise -shortage, rise -shortage, fall -surplus, fall
- 1. Use the theory of the market to explain what is happening in each of the following scenarios: Ensure that you discuss the impact on demand, supply, equilibrium price and equilibrium quantity (if any).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?1.Suppose that the supply and demand for sunglasses are p=0.8q+6 p=-1.2q+14 Where P is the price in dollars and Q is the quantity in hundreds. A. Find the supply and demand (to the nearest unit) if sunglasses are sold for $7each. Discuss the stability of the sunglasses market at this price. B. Find the supply and demand (to the nearest unit) if sunglasses are sold for $11each. Discuss the stability of the sunglasses market at this price. C. Find the equilibrium price and quantity.
