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- Please select all potential causes of a rightward supply curve shift (check all that apply) sellers expect the price to be higher in the future consumer income increases there is a cost-saving improvement in technology the price increasesIdentify what sort of effects the following listed events have.You are required to define the market under study (for example: the labour market, oilmarket, etc). Explain whether the event acts on the demand or supply side, and whether theevent leads to a quantity or price change, or leads to a shift in demand and/or supply.Make sure to explain what sort of assumptions you are making on the elasticities of demandand supply.a) An increase in oil prices as a consequence of a price dispute in the world oil marketsb) The implementation of a minimum wagec) The implementation of subsidies to milk producers in Australiad) The implementation of a Carbon tax in the economy. A Carbon tax is charged according tothe level of emissions of greenhouse gases in an economy.e) The implementation of an increase in tuition in University studies. all a to e.Identify what sort of effects the following listed events have.You are required to define the market under study (for example: the labour market, oilmarket, etc). Explain whether the event acts on the demand or supply side, and whether theevent leads to a quantity or price change, or leads to a shift in demand and/or supply.Make sure to explain what sort of assumptions you are making on the elasticities of demandand supply.a) An increase in oil prices as a consequence of a price dispute in the world oil marketsb) The implementation of a minimum wagec) The implementation of subsidies to milk producers in Australiad) The implementation of a Carbon tax in the economy. A Carbon tax is charged according tothe level of emissions of greenhouse gases in an economy.e) The implementation of an increase in tuition in University studies
- In a School year 2020, at a University which requires that all students must take Accounts as a core requirement. The University Bookshop made their order for Accounts Textbook based on the number of registered students in the last academic year. Using the list of options of possible impacts, select what is happening in the following markets. Select the impact if any on i.Supply ii.Price iii.Quanityiv.Demandusing the diagram below defent thr point that a free market will always move from disequilibrium to equilibrium according to demand and supply theory Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Given the following information Qd = 240 – SP Qs = P Where Qd is the quantity demand, Qs is the quantity supplied and P is the price. Calculate the following: (i) Equilibrium price before the tax (ii) Producer surplus before tax (iii) Consumer surplus before tax (iv) Buyers reservation price (v) Sellers reservation price
- An economy consists of two regions, the North and the South. The short-run elasticity of labor demand in each region is -0.5. Labor supply is perfectly inelastic within both regions. The labor market is initially in an economywide equilibrium, with 600,000 people employed in the North and 400,000 in the South at a wage of $15 per hour. Suddenly, 20,000 people immigrate from abroad and initially settle in the South. They possess the same skills as the native residents and also supply their labor inelastically.a. What will be the effect of this immigration on wages in each of the regions in the short run (before any migration between the North and the South occurs)?b. Suppose 1,000 native-born persons per year migrate from the South to the North in response to every dollar differential in the hourly wage between the two regions.What will be the ratio of wages in the two regions after the first-year native labor responds to the entry of the immigrants?c. What will be the effect of this…Holding everything else constant, if the cost of production( a supply-side factor) decreases, then the price will a) increase b) decrease c) remain the same d) (unknown; not enough information to specify among these options)True/False Market price is an macroeconomic concept.
- Identify what sort of effects the following listed events have.You are required to define the market under study (for example: the labour market, oil market, etc). Explain whether the event acts on the demand or supply side, and whether the event leads to a quantity or price change, or leads to a shift in demand and/or supply.Make sure to explain what sort of assumptions you are making on the elasticities of demand and supply.d) The implementation of a Carbon tax in the economy. A Carbon tax is charged according to the level of emissions of greenhouse gases in an economy.e) The implementation of an increase in tuition in University studiesIdentify what sort of effects the following listed events have.You are required to define the market under study (for example: the labour market, oilmarket, etc). Explain whether the event acts on the demand or supply side, and whether theevent leads to a quantity or price change, or leads to a shift in demand and/or supply.Make sure to explain what sort of assumptions you are making on the elasticities of demandand supply. e) The implementation of an increase in tuition in University studies?Match each of the following terms and descriptions Question Disequilibrium A.When the price in the market is higher or lower than equililbruim price equilibrium B. at the existing price, quantity supplied exceeds the quantity demanded price control C. government does not let market forces dictate the price in market shortage D. quantity demanded equals quantity supplied surplus E. at the existing price the quantity demanded exceeds the quantity supplied Match each of the following phrase and scenario. Question Demand shifts to the right A. equilibruim price rises and equilibruim quantity falls Price is too high B. equilibruim prices falls and equililbruim quantity rises Price is too low C.video games consoles or concert…