2 : What is the effect on the equilibrium price of hotdogs and the equilibrium quantity of hotdogs sold if Consumers’ incomes increase if hot dogs are a normal good? Demand The wage rate of a hotdog seller increases. Supply If the wage rate of the hotdog seller rises and at the same time prices of ketchup, mustard, and relish fall? Supply (factors of production) and complement in production             Sub      com D         +          -           S          -           +

Q: ) If supply increases and demand also decreases, we can conclude that the new equilibrium:  a.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 1. Wages of bus drivers increase. At the same time, incomes of consumers generally increase. How…

A: According to the question, it is given that : Wages of bus drivers rises. At the same time, incomes…

Q: 8. Suppose a technological advance reduces the cost of making computers. a. Use a supply and demand…

A: a) the subsequent diagram showing the effect of technological advance on…

Q: When there is rise in the price of factors, there will be a ________. a. Increase in supply b.…

A: Contraction/Extension in supply is due to price. Increase/decrease in supply is due to factors other…

Q: c) Assume that soccer becomes the national pastime, and attendance at professional soccer games…

A: Note – As mandated by the student, answer to only part c and 5b) is provided. Demand of a good is…

Q: 13. Consider the nation of Wetland. In every year for the last five years those who produced swords…

A: Law of demand: It refers to a law under which when the price of things increases people will reduce…

Q: What would happen to the equilibrium price and equilibrium quantity of oranges if the costs of…

A: Increasing cost of production will affect both price and quantity.

Q: b) Demand for beef will decrease.

A: The ‘law of supply’ states, ceteris paribus(keeping other things constant) when the price(P) of a…

Q: 4. Why would we see a decrease in demand for certain goods if incomes are rising in an economy?…

A: Correct : some goods are inferior goods and consumers substitute normal goods for them when incomes…

Q: 1. Consider the market for good X. Increase in input costs increases the cost of production. At the…

A: Equilibrium is the state where market interests balance one another and therefore costs become…

Q: 4.) What has happened to the supply of Indian sugar this year? 5.) What has happened to the supply…

A: The demand (dd) for a product shows the quantity that a consumer desire to purchase at the given…

Q: Beer and pizza are complements because they are often enjoyed together. When the price of beer…

A: Beer and Pizza are complements goods because they are consumed together to get satisfaction.  A…

Q: 8 If the supply curve shifts right and the demand curve shifts right price increases; quantity…

A: When the demand and supply curves intersect each other, the point of intersection is called the…

Q: 5. Which of the following is not true? a. A rise in price the of air travel causes demand to fall.…

A: Demand is the total products and services for which the customers are ready to pay various prices.

Q: Question 1 A perfume product has the following market demand and supply equations: QD = 50 - 5P Qs =…

A: Price elasticity of demand shows how responsive the quantity demanded of a good is, in response to…

Q: Draw a supply and demand diagram of the market for beef in Australia. On you diagram, show the…

A: The forces of demand and supply as represented by demand and supply curves respectively can be used…

Q: Which of the following situations certainly leads to a lower equilibrium price? An increase in…

A: The equilibrium price is the point of price where the desire of producers and consumers is agreed.

Q: Which of the following statements give an upward rising curve from left to right? a. Negative…

A: A positive slope indicates that two variables are positively connected, meaning that as X rises, so…

Q: 5. Suppose that the incomes of buyers in a particular market for a normal good increase and there is…

A: Given:  Increase in the income of buyers in a market for a normal good.  Decrease in the input price…

Q: Figure 1 What will happen to the equilibrium price Supply (5) and equilibrium quantity if:…

A: Increase in consumer income increases demand, shifting demand curve rightward to D1 which intersects…

Q: 1. What are the determinants of market demand for a commodity?

A:

Q: Demand Schedule     Supply Schedule P Q     P Q 10 30     10 80 9 35     9 74…

A: We have given the supply and demand schedule at price levels from 1 to 10. From the demand schedule,…

Q: 1. Suppose that demand is given by the equation QD=500 – 50P, where QD is quantity demanded, and P…

A: Given  The demand equation is given by Qd =500-50P           ... (1) The supply equation Qs=50+25P…

Q: The supply curve shifts to the right by more than the demand curve shifts to the right. In this…

A: Answer to the question is as follows :

Q: 7. Which of the following statements is (are) correct? (x) Suppose technological improvements in…

A: Fertilizers, insecticides, seed technology, and other aspects of agriculture are all affected by…

Q: 5. Suppose the supply of apples sharply increased because of perfect weather conditions throughout…

A: Supply is the relationship between the price of a commodity and the willingness of the producer to…

Q: 4- For each of the following changes, determine whether there will be a change in quantity supplied…

A: The supply of the good changes due to various factors like cost of production, number of suppliers…

Q: ) If the cost of producing Good A falls, this will cause      A) an increase in the market price of…

A: The supply curve shows the association between the price of commodity and quantity of the commodity…

Q: 9.( Define "supply." The definition of supply is very similar to that of demand. Supply is a…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 12. What is the difference between a change in supply and a change in quantity supplied? A ( change…

A: A change in the supply means keeping the price of the good same, if other factors affecting the…

Q: 9. If the supply of and demand for a product decrease at the same time, then equilibrium a. quantity…

A: The economic dynamics that decide what providers are willing to create and what buyers are willing…

Q: 1. Predict the impact on equilibrium price and quantity for the relevant market given the following…

A: A change in a factor that influences demand or supply other than the own price of the commodity…

Q: Assessment 3.2 1. What does an upward-sloping supply curve mean about how sellers in a market will…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 7. If the demand and supply curve for computers is: D = 100 - 6P, S = 28 + 3P %3D Where P is the…

A: Given,               D = 100 - 6P              S = 28 + 3P

Q: 4- For each of the following changes, determine whether there will be a change in quantity supplied…

A: Quantity supplied will increase (decrease) when a good's own price increases (decreases).  Supply…

Q: 1. What is the equilibrium price in this market? 2. What is the equilibrium quantity in this…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Consider a competitive market for apartments in Bandung. What is the effect on the equilibrium price…

A: As there is an increased level of consumer income, people will have more demand at the same prices.

Q: 1.Which of the following is held constant along a demand curve?      A) Tastes and preferences. B)…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…