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As the diesel prices have almost caught up the gasoline prices, the market for diesel cars has responded. What do you expect
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- If the gasoline price remains low and the gas engine becomes more efficient for all kinds of models, what will be the possible impact on the U.S. market price of Tesla Model X? Please explain your answer in the language of economics.Explanation of possible effects of higher oil prices on different types of firms and consumers.how do oil prices affect the market for this good (fertilizer).
- The global microchip shortage is causing significant price increases for both new and used vehicles (and for a wide variety of other consumer products). Does this necessarily mean that the revenues earned by chip manufacturers will be up? Why or why not?Firm A provides commercial cleaning services. The price ? it charges is a linear function of the area? to be cleaned: ? = ?? + ? for some numbers ? and ?. It is known that the price is $1300 if the area is 500m 2,1and the price is $2300 if the area is 1000m 2. What are ? and ?Titanium is an alternative for the supply of Platinum.In the market of Platinum, consider the effect of an increase in electricity prices if electricity is a major input in the production of Titianium. Using the list of options of possible impacts, select what is happening in the following markets. Select the impact if any on:i.Supplyii.Priceiii.Quanityiv.Demand
- . Rise in costs is a bad thing If rising costs are due to rising prices If rising costs are due to rising demand It is bad anyway NoneA ski resort in the White Mountains has conducted market and cost studies, and has determined that the demand and supply for ski-lift tickets at their resort are represented by: Qd=1750 - 5P - 8PR + 2PB; Qs=50 + 20P - 3PE. In these equations, P represents the price of a full-day lift ticket, in dollars per ticket; PR is the price of a ski-rental package; PB is the price of a pint of beer at the local pub in the nearby town; and PE is the price per megawatt hour for the electricity used to run the chair lifts on the ski slopes. Based on the equations above, determine whether the beer in the local pub is a substitute or complement to skiing. Briefly explain your answer. Suppose the price of a ski-rental package is $20, the price of a pint of beer is $5, and the price of electricity is $150 per megawatt hour. Calculate equilibrium price and quantity of ski-lift tickets. Now consider the more general relationship between the price of lift tickets and the price of ski-rental packages.…Air Canada announces a 15% off sale on its flights, so fans can watch Toronto Raptors play against the Golden State Warriors in the NBA Finals. What effect will this sale have on Air Canada's flights to destinations other than Canada?
- Mr. Mondal is a potato wholesaler at Nasik. The per capita consumption of potatoes per day is about 200 grams. Currently, potatoes are being priced at Rs.6 per kg. The price elasticity of potatoes is 0.62. Due to present short supply of potatoes Mr. Mondal decides to increase the price. If he can sustain a reduced sales volume up to 10%, compute the maximum price he can set is (Round off your answer up to one decimal only)For each of the determinants of demand in Equation 2.1, identify an example illustrating the effect on the demand for hybrid gasoline-electric vehicles such as the Toyota Prius. Then do the same for each of the determinants of supply in Equation 2.2. In each instance, would equilibrium market price increase or decrease? Consider substitutes such as plug-in hybrids, the Nissan Leaf and Chevy Volt, and complements such as gasoline and lithium ion laptop computer batteries.Term used to describe demand that can be accuratelycalculated to meet the need of a production schedule,for example.
