During the 1990s, technological advance reduced the cost of computer chips. how do you think this affected the market for computers? For computer software ? For typewriters?

Q: Demand for a commodity refers to

A: Consumers are the people who create demand for a good in an economy. Producers are the people who…

Q: The 5G smartphone market is expanding rapidly recently. Due to the advancement of technology, the…

A: Demand: It refers to the goods and services that are demanded by the people. More demands show more…

Q: Over the past 40 years, technological advances have reduced the cost of computer chips. Explain how…

A: Technological Advancement: The term technological advancement refers to the invention or discovery…

Q: How is Consumer demand for products quite different from demand in the business market?

A: Demand:-  Demand is an economic theory that refers to a person's inclination to buy a product or…

Q: Carefully explain what is happening in the following markets. Indicate the impact if any on demand,…

A: Popcorn and lemonade are considered as complementary goods as consumers prefer lemonade with the…

Q: Choose any business.  If you worked for that business, what major factors would stimulate the demand…

A: The major factors that would affect the demand or stimulate the demand are as follows: Price plays…

Q: Explain the difference between a change in supply and a change in quantity supplied.  What causes…

A: Supply is defined as the amount of a good or service that the suppliers are able and willing to…

Q: California is a large producer of strawberries. Oh No!  There is a killer frost that kills half of…

A: When there is a frost in Switzerland, it killed half of the crops and as result, the supply of…

Q: What are the theories of supply?

A: At a given market price, a specific quantity of products offers to sell by the firm is known as the…

Q: During the 1990s,technological advances reduced the cost of computer chips. How do you thunk this…

A: The following figure illustrates the change in equilibrium due to shift in the supply curve. In the…

Q: Indicate on a graph and with words how each of the following events would be expected to affect the…

A: Effect of any event on the market is determined by the effect on demand and supply behaviour of that…

Q: The market for tomatoes is in equilibrium. This week scientists developed a new type of technology…

A: The markets are the place where the buyers of the goods, and services interact with the suppliers of…

Q: Use a demand-supply diagram to explain the impact on the market for computers. - Computer…

A: In the free market, price and quantity is determined by the forces of demand and supply. Demand…

Q: Explain using words and graphs of how the supply curve is derived( where do they come from)?

A: Supply curve grapically represents the correlation between cost of goods and quantity supplied.…

Q: Over the past 30 years, technological advances have reduced the cost of computer chips. How do you…

A: Market: It refers to the place where goods and services are being sold. The producers produce goods…

Q: High Price Four Options Huh - interesting. James, what does this development mean for the corn…

A: In the market, barley and corn are considered bas substitutes for each other due to which an…

Q: What happens to the supply of Smartphones as technological advancement takes place?

A: The supply depends upon the price level in the economy. When the price level is higher, the…

Q: Using the market supply graph, show the law of supply.

A: The law of supply states, ceteris paribus(keeping other things constant) when the price(P) of a good…

Q: explain how and when demand and supply have changed (shifted) for online shopping. Provide examples…

A: Online shopping has grown in volume in recent years. It was not too many years ago when people used…

Q: over the past 30 years technology advances have reduces the cost of computer chips. how do you think…

A: The technological advances in the field of information technology reduce the cost of computer chips.…

Q: If the price of rubber falls, how will that affect the demand for rubber tires?  a) demand will not…

A: Solution: If the price of rubber falls, how will that affect the demand for rubber tires?  a) demand…

Q: Asap!!  Rapid economic growth in the early 2000s leads to a sharp upturn in oil prices. During the…

A: The period of slow economic growth would be depression whereas rapid economic growth would be…

Q: Who are on the supply side of the market?

A: In a market, the equilibrium price and equilibrium quantity of a good is determined by the market…

Q: Over the past 40 years, technological advances havereduced the cost of computer chips. How do…

A: Equilibrium is attained in the market at the point where the demand and supply intersect each other.

Q: For each of the following changes in the market for apples, explain why demand will increase,…

A: 1. A rise in the price of peanut butter (a compliment) leads to a fall in the demand for apples.…

Q: Graphically show how each of the following shifts the supply curve. Also identify which factor of…

A: Law of supp;y depicts that there is direct relation between the prices of goods and services and the…

Q: How do you think this affected

A: Technological progress is nowadays obvious. There are many firms which produce different types of…

Q: Over the past 30 years, technological advances havereduced the cost of computer chips. How do you…

A: Substitute goods: The goods which can be used in the place of other goods or the goods whose demand…

Q: In 1997 and 1998, the economy expanded, increasing the demand for labor and pushing up wages.…

A: The equilbrium price and quantity of a good sold in the market are determined by the forces of…

Q: what graph represents the market for wheat as a result of a decrease in the price of diesel fuel,…

A:

Q: In the United States, oranges are grown primarily in Florida and California. Imagine if there is a…

A: The question pertains to competition among market of same goods that is orange.

Q: Define Shifts in both demand and supply?

A: A shift during a demand or supply curve occurs when a good's quantity demanded or supplied changes…

Q: Supply as a function of the price of inputs and technology? Comment

A:

Q: How does oil play a role in the price of fertilizer?

A: Demand represents the volume of goods and services that the consumers are willing to buy at…

Q: In Louisiana, florists must be licensed by the state. In many states, auctioneers must be licensed…

A: Professional licensing increases the cost of doing business, so producers decrease output. As a…

Q: List five things that are held constant along a market demand curve, and identify the change in each…

A: The market demand curve is the summation of all individual demand curves in a market. It shows the…

Q: How did an expert ban on onion by india affected the price of local onion in Bangladesh? Can show…

A: Country I has temporarily prohibited the export of onions due to supply shortage in the domestic…

Q: In 2001 an outbreak of foot-and-mouth disease in Europe led to the burning of millions of cattle…

A: Supply is the amount of output that producers or sellers are willing to sell in the market at…

Q: How is the price of gasoline determined in a competitive market? What predictions can you make about…

A: A competitive market is a market where a large number of buyers and sellers. In this market firms…

Q: What is the difference between demand and derived demand? What examples do you have of goods and…

A: Demand is described as the willingness and ability to purchase a commodity.