1. What is market interventions Take an example 2. International trade Take an example 3. Changing equilibrium from trade take an example 4.Minimium wage and price floor take an example
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1. What is market interventions
Take an example
2. International trade
Take an example
3. Changing equilibrium from trade
take an example
4.Minimium wage and
take an example
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Solved in 2 steps
- 1. market equilibrium and disequilibrium take an example 2. changes in equilibrium take an exampleEquilibrium price = 54.48 dollarsEquilibrium quantity = 2.89find answer of 2nd box and 3rd(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 for consumption. (i) Discuss the impact of the good harvest on each of the three markets. (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? (b) Identify a newspaper article that illustrates a market failure in your assigned Caribbean country. Ensure that you provide a screenshot of the article in your submission. NOTE: Only the following market failures should be examined: public good, asymmetric information, positive or negative…
- What is an example of the "invisible hand" of the market? A. the government forbidding internet providers from blocking some websites. B. store A lowering its prices to compete with Store B and attract customers C. a store manager figuring the cost of hiring an extra worker for the holiday season .the mobile phone market in europe shows the following characteristics?Production 15.9 MN unitsConsumption 22.8 MN unitsEuropean price 36 EurocentsElasticity of supply 1.5Elasticity of demand -0.3Drive the demand and supply curves in the Mobile market18- Studying the determination of prices in individual markets is primarily a concern of_____________. a. Macroeconomics. b. Negative economics. c. Microeconomics. d. Positive economics.
- Table: The Market for Chocolate-Covered Peanuts Price (per bag) Quantity Demanded (bags per month) Quantity Supplied (bags per month) $0.90 70 280 $0.80 105 245 $0.70 140 210 $0.60 175 175 $0.50 210 140 $0.40 245 105 $0.30 280 70 Reference: Ref 3-5 Table: The Market for Chocolate-Covered Peanuts (Table: The Market for Chocolate-Covered Peanuts) Use Table: The Market for Chocolate-Covered Peanuts. If the price of chocolate-covered peanuts is $0.60, the price will:arrow_forward Question Asked Jun 26, 2020 1 views Suppose one thousand (1000) units of product Aare produced by XYZ limited and the quantity demade for the product is two thousand (2000)units .All other things remaining constant,$18 change in price of product A results in change quantity demaded and supplied of 6 and 9 respectively.XYZ limited has a work force of 500 people who Pay income tax of $200 each .Supposed the government introduce a subsidy of $10 on each unit of A produced. Calculate the new equilibrium price and quantity1. Assume that the markets for sugar cane, rum and whiskey are initially in equilibrium (i.e., supply equals demand in each case). Assume further that a good harvest impacts the world’s sugar cane crop. Sugar cane is a principal ingredient in rum, but it is not an ingredient in whiskey. Rum and whiskey are substitutes in consumption. a. Discuss the impact of the good harvest on each of the three markets. b. Discuss the effect on the markets for each of the three products if the government implements a price restriction in the sugar cane market with the aim of protecting the farmers. c. How will this impact the revenues for sugar growers, rum producers and whiskey producers?
- a. What is a Market Equilibrium? Using the given demand and supply schedule, draw market equilibrium and show the equilibrium price and quantity. supply and demand for pizza price Quantity Quantity demanded supplied(pizza per (pizza per($per pizza) semester) semester) 10 0 408 10 306 20 204 30 102 40 00 125 0 b. How will the market equilibrium of pizza market alter if, i. There is an increase in the pocket money of the students. ii. Price of cheese gets lowered. iii. Price of burgers get is reduced. iv. Use of Electric Oven makes it easy to prepare pizza.1. Hoverboards and the Factory Market Area: Suppose there is a single shoe factory in the region. The factory competes with homemade shoes and will sell shoes to any household for which the net price of factory shoes is less than the cost of homemade shoes. The cost of a homemade shoe is the opportunity cost of the time required to make the shoe at home, that is, the one gallon of milk that could be produced instead. Suppose the higher cost of living and commuting requires compensation of 0.80 gallons of milk per hour. Each worker produces 10 shoes per hour, so the average labor and capital cost are 0.18 gallons of milk and 0.12 gallons of milk respectively. The factory price of shoe (equal to the average production cost, sum of the average labor cost and the average capital cost) is 0.30 gallons of milk. A round-trip mile involves one mile of travel to a location and one mile back, for a total distance of two miles. Linear travel cost 20 miles /hour. Therefore, the typical person…Illustrateeachofthefollowingeventsusingademand and supply diagram for bananas. a. Reports surface that imported bananas are infected with a deadly virus. b. Consumers’ incomes drop. c. The price of bananas rises. d. The price of oranges falls. e. Consumers expect the price of bananas to decrease in the future.
