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A:
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Q: 14. Give at least three conditions for the demand to shift to the right or left. Explain.
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Q: 15. Give an example for the supply curve to shift to the right or left. Explain
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- Name some factors that can cause a shift in line demand curve in markets for goods and services.Predict how each of the following economic changes will affect the equilibrium price and quantity in the financial market for home loans. Sketch a demand and supply diagram to support your answers. The number of people at the most common ages for home-buying increases. People gain confidence that the economy is growing and that their jobs are secure. Banks that have made home loans find that a larger number of people than they expected are not repaying these loans. Because of a threat of a war, people become uncertain about their economic future. The overall level of saving, in the economy diminishes. The federal government changes its bank regulations in a way that makes it cheaper and easier for banks to make home loans.If demand is inelastic, will shifts in supply have a larger effect on equilibrium price or on quantity?
- Which of the following changes in the financial market will lead In an increase in the quantity of loans made and received: a rise in demand a fall in demand a rise in supply a fall in supplyWhich of the following changes in the financial market will lead to a decline in interest rates: a rise in demand a fall in demand a rise in supply a fall in supplyIf demand is elastic, will shifts in supply have a larger effect on equilibrium quantity or on price?
- If supply is elastic, will shifts in demand have a larger effect on equilibrium quantity or on price?5. Discuss in detail, demand function and its factors.(a) Due to the increase in the demand for video games, the equilibrium price of video games increases by 10 percent, and the equilibrium quantity increases by 5 percent. Is the price elasticity of demand for video games elastic, inelastic, or indeterminate? Explain your answer (with calculation if possible). Is the price elasticity of supply of video games elastic, inelastic, or indeterminate? Explain your answer (with calculation if possible). (b) Suppose Marcus produces chocolate with two inputs: factory and labor. If the workers become more productive with better training, state whether the average fixed cost, average variable cost, average total cost, and marginal cost will rise or fall? (c) After one month of operation, OU Café determined to shorten its business hours and close on weekends. What costs, fixed or variable, should OU Café have considered when it…
- Q5. An increase in demand would cause supply curve to: Shift to the left Shift to the right Change in slope of supply curve No effect on supply Answer ____ Explain your answer:24- Identify the statement that does not describe a supply curve. a. It shows various prices and quantity supplied b. It is a graph showing a direct relationship c. It shows a positive relationship d. It is in tabular format14. Give at least three conditions for the demand to shift to the right or left. Explain.