D2 D1 Do Quantity Refer to the figure above. Using the graph above and beginning on D1, a shift to D2 would indicat increase in expected future prices. Price
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Price: It refers to the cost of the goods and services on which these goods are available to the customers for their use. When the price of goods and services increases, the supply also changes for the goods and services being demanded.
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- Demand and supply in a market are described by the equation: Qd=66-3P Qs=-4+2P Solvealgebraically to find equilibrium price and quantity.Let's assume that prices substantially increased over the past year. How do you expect this will affect people's buying behavior? Be sure to tie this back to economic concepts discussed in this course. Time Atten 33 M.2. A small college is trying to predict enrolment for the next academic year. Thevice president for business states that enrolment has tended to follow apattern described by E = 18,000 – 0.5P, where E denotes total enrolment andP is yearly tuition.a) If the school sets tuition at €20,000, how many students can it expect to enrol?b) If the school wants to maximize total tuition revenue, what tuition should itcharge?c) As the vice president for business, what tuition would you recommend? Explainbriefly.d) Due to a strong post-COVID-19 recovery, the income conditions in the regionimprove substantially. Explain in one sentence how this could affect the college’senrolment pattern and the enrolment level maximizing its tuition revenue.
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- Q2. a. What is the law of demand? Give two examples of how you have observed the law of demand at work in the “real world.” How is the law of demand related to the demand curve?b. What variables influence the demand for a normal good? Explain why a reduction in the price of a normal good does not increase the demand for that good.Q4. What is econometric forecasting? If econometrics forecasting is considered the bestforecasting technique, what usefulness remains over other forecasting techniquesAssume that the incomes of U.S. consumers increase. Will that impact the demand for automobiles? If so...how??? Construct a diagram and show me how the diagram will change once you factor into the diagram the given assumption.Yousuf is going to market on 8.4.2021 with 10 OMR and he purchases 5 kilograms of the product which is 2 OMR per kilogram. When he went the next day with 20 OMR the price did not change and he purchased 10 kilograms of the product. The change in demand here discussed here is ________. a. Downward movement of supplier on the supply curve b. Upward movement of the supplier on the supply curve c. Rightward shift of the consumer on the demand curve d. Leftward shift of the consumer on the demand curve
- Suggest plausible factors which could have an impact on the demand and supply of oil in the near term.o Argue whetheron balance these effects are expected to push oilprices up, down, or keep them stable.o Include diagrams as appropriate.t is a general belief in the United States that time is _____. an expenditure sufficeint flexible a commodityMarket Equilibrium, disequilibrium, Floor and Ceiling Prices, CS, PS, DWLBased on the following functions, compute for the:Demand: P = 1200 – 4QSupply : P = 655 + 2Q Draw the graph for items 2-3 What is the Ps? Compute for the DWL (Black)