Determinate: Input Cost; Create a scenario that affects the determinant listed. (SC2) Determine how the scenario will affect demand OR supply. (SC2) Predict how the change will affect the equilibrium price and quantity of your product. (SC3)
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- Identify the correct option According to the graph, at R60, the amount that is demanded is 100 units and the quantity produced is 180 units, suggesting that the quantity supplied outshines the total amount sought by 50 units. As a result of this, there is a 50-unit overproduction (surplus) of potatoes in the marketplace. It can be mathematically verified as:Please align the letter with the closest related scenario that would allow for a similar action to occur in the shifting of the supply or demand curves as shown below. Improved technology in current product that the market was anxiously awaiting. ________ Vehicles increasing MPG from 20MPG to 40MPG, as it relates to gasoline usage. ________ Technology that allows for easier extraction of oil. ________ Increase in cost of materials to the seller. ________Enabling Assessment - Demand Estimation and Forecasting Given: The ATV Company produces a specialty cement used in the construction of roads. ATV is a price-setting firm and estimates the demand for its cement using a demand function in the linear form: Q = f (P, M, PR) where Qc = demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard. The manager of ATV obtained the following results in her attempt to estimate the demand for cement in the succeeding months. The results are presented below: DEPENDENT VARIABLE Qc R- SQUARE F-RATIO P-VALUE ON F OBSERVATIONS 64 0.8093 84.872 0.0001 VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20 4.01…
- A store that sells maize meal discovers that when the price of 1kg maize meal Is R24 per kilogram, the quantity demanded is 306 kgs per week. When the price decreases to R21 per kg, then the sales increase to 340 kgs per week.A local manufacturer is in the process of introducing a new product to all of its retailers. The manufacturer has conducted a survey of consumers, as well as performed trial runs with selected retailers, and discovered the following information about demand for the new product at various price levels: Demand for New Product Quantity Demanded(Number of Units) Price per Unit ($) 300 15 250 25 200 35 150 45 100 55 50 65 0 75 The manufacturer has the following information about how many units they are willing to supply to each retailer at various price levels: Supply for New Product Quantity Supplied(Number of Units) Price per Unit ($) 0 7.50 50 22.50 100 37.50 150 52.50 200 67.50 250 82.50 300 97.50 At what quantity and price will both manufacturer and consumer find equilibrium? And what factors could affect the demand and supply for the new product? When using mathematical concepts to model demand and supply, what parameters must be…A manufacturer of computer workstations gathered average monthly sales figures from its 56 branch offices and dealerships across the country and estimated the following demand for its product: Q = +15,000 - 2.80P + 150A + 0.3Ppc + 0.35Pm + 0.2Pc The variables and their assumed values are Q = Quantity P = Price of basic model = 7,000 A = Advertising expenditures (in thousands) = 52 Ppc = Average price of a personal computer = 4,000 Pm = Average price of a minicomputer = 15,000 Pc = Average price of a leading competitor’s workstation = 8,000 Compute the elasticities for each variable. On this basis, discuss the relative impact that each variable has on the demand. What implications do these results have for the firm’s marketing and pricing policies?
- If in the study results obtained a demand and supply model for ties and suits: Demand for tie: Qdt = 410 – 5Pt – 2Ps Supply of tie: Qst = – 60 + 3Pt Demand for suit: Qds= 295 – Pt – 3Ps Supply of suit: Qss=–120 + 2Ps Based on the estimation results, then: a. Determine the general equilibrium price of a tie and suit b. What is the type of relationship between a tie and a suit? Explain your argumentCompany X has been unable to keep up with customer demands for product Y. They are considering two options. The first is to replace the existing tooling machine with a new machine or start a second shift to increase throughput. The cost of the new machine is $500,000. The cost of ramping up the second shift is 150,000. With the new machine option, there is a 60 percent opportunity of generating 750,000 in revenue. There is also a 40 percent opportunity of making $200 in revenue. With the second shift option, there is a 50 percent opportunity to generate $400,000 of revenue and a 50 percent opportunity to generate $100,000 of revenue. Which option would you recommend?If the number of buyers in a market increases from 25 to 75, you would expect the equilibrium price to _____ and the equilibrium quantity to _____, holding all else constant. Group of answer choices remain the same; remain the same decrease; decrease decrease; increase increase; increase increase; decrease
- Calculate the Market equilibrium found for all 3 scenarios.Estimate the equlibrium price and quantity of the market whose demand and supply functions are pd =−(q + 4)2 + 100 and ps = (q + 2)2 respectively.The price for some intra-Asia container shipping services, such as the container shipping fee for China-to-Singapore freight, raised up to five-year high in mid-November 2020. Some Singapore consumers believed that annual major promotion of leading ecommerce sites in China and Singapore, especially the double-11 shopping festival, caused the rapid increase of China-to-Singapore container shipping cost. However, others speculated that there might be some supply-side changes causing the spike in sea shipping rate.Search and collect information regarding changes in the Asian container shipping market from at least two news articles. Apply the supply-and-demand theory to analyse the change of short-run market equilibrium. Based on your findings evaluate the gain or loss of consumer surplus, producer surplus and total surplus. You must use appropriate market diagrams to illustrate and interpret your findings.