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- Beer production in Mexico rose 4.7 percent in 2021, registering 118.7 million hectoliters more. Although the installed capacity of the brewing industry allowed for its gradual recovery, particularly towards the second half, this increase is explained by the fact that, by the end of 2021, a greater number of massive events were held that allowed the demand for beer to increase. The increase in beer production in Mexico is explained by a shift in the demand curve to the right, this movement causes a decrease in the price of beer, which helped reactivate the market. (T/F) _______Imagine the inputs prices are falling in an economy as a result there will be____. a. Expansion of aggregate supply b. Rightward shift of aggregate supply c. Leftward shift of aggregate supply d. Contraction of aggregate supplySuppose there is an expectation of a rapid general price increase in goods and services in Australia in January 2021. Examine the effects of the anticipated general rapid increase in price for goods and services.
- Fast moving consumer goods (FMCG) dollar sales soared to $77.9 billion across all U.S. channels for the 52 weeks ended Sept. 12, 2020, translating to year-over-year growth of 9.3%. Assuming that demand for FMCG is downward sloping and supply is upward sloping, and that this change is driven strictly by increased demand (while supply remained the same), can you tell how the increase in the average prices of FMCG compares to 9.3%? Do you have enough information to tell whether it will be higher or lower than 9.3%?From the specific supply function Qs = 20Px (Px is given in dollars), derive the producer’s supply schedule ?If crude oil prices rise significantly, then heating oil prices will most likely: Decrease Increase Stay the same
- Determinants of Demand include the following: (a) Changes in supply (b) Prices of goods related in consumption (c) Prices of resources (d) Consumer tastes (e) Consumer income (f) Number of buyers (g) Number of sellers (h) Expectations, including expectations of future changes in supply (i) Expectations, other than expectations about future supplySuppose we have two consumers in the market. Joe has the following demand curve: P=10-Q1. Lucy has the following demand curve: P=10-3Q2. Find (algebraically) the formula for the market (or aggregate) demand curve. Draw all 3 curves on 3 separate graphs that should be drawn next to each other (so I can see the horizontal summation of quantities).Factors affecting demand and supply are the various factors that influence the quantity of a good or service that buyers (consumers) are willing to purchase and the quantity that sellers (producers) are willing to produce and sell, respectively. Understanding the factors is important for businesses, policymakers, and consumers to make informed decisions about pricing, production, and consumption. The prediction is that global consumption of crude oil will exceed production by 20 million barrels this year, which means there will be a shortage of supply. This could lead to further price increases if demand continues to grow, which would result in higher costs for consumers and businesses. However, this imbalance is likely to be corrected over time as higher prices incentivize more production, while lower demand could lead to a reduction in consumption. Additionally, new sources of supply could come up or existing sources could increase their output in response to higher prices. In the…
- Which of the following would cause the Aggregate Quantity Demanded to increase? a. An increase in the price level causing a decrease in the purchasing power of the consumers' wealth b. A decrease in the price level causing an increase in the market rate of interest c. An increase in the price level causing an increase in the purchasing power of the consumer's wealth d. A decrease in the price level causing a decrease in the market rate of interest e. None of the aboveWhich of the following would cause the Aggregate Quantity Demanded to increase? A) An increase in the price level causing a decrease in the purchasing power of the consumers wealth B) A decrease in the price level causing an increase in the market rate of interest C) An increase in the price level causing an increase in the purchasing power of the consumer s wealth D) A decrease in the price level causing a decrease in the market rate of interest E) None of the aboveCompanies in the steel and alumina industry may react to an increase in the price of crude oil by increasing their prices to reflect the increased cost of production. This, in turn, may lead to higher prices for consumers. Alternatively, companies may seek to reduce their production costs by implementing cost-saving measures, such as switching to alternative sources of energy or reducing their energy consumption. In some cases, companies may seek government intervention, such as relaxing import controls or offering subsidies, to help them cope with the increased cost of production. Ultimately, the reaction of companies in the steel and alumina industry will depend on a range of factors, including the specific circumstances of each company, the availability of alternative sources of energy, and the actions of their competitors. An increase in the price of crude oil will increase the cost of production for the steel and alumina industry, which will increase the price of their products…