If the cost of lemons falls from $5 to $4 a bag, we could predict the supply curve for lemonade would a) become steeper. b) increase. c) become flatter. O d) shift to the right. e) shift to the left.
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- Two months after launching the 8 GB iPhone in 2007Applereduced its price from $599 to $399 Unit sales not only increased , they soared, Front Page After iPhone Price CutSales Are Up by 200 Percent reports Refer to the and this price-cut information to answer one question FRONT PAGE iPhone Price Sales Up by 200 Piper Gene Munster, the person for a survey dedicated to Apple in which he estimated number of iPhones were sold, has come up with yet another interesting theory According to Munster and the week Apple announcement about 1 Phones the take the that the price sales increased to percent By Apple and AT&T were an average of 9,000 Phones a day before the price reduction, which would have put their quarterly sales as of September the end of the , he believes Apple will have of 2007 What was the quarterly price elasticity of demand for iPhones in 2007Explain the impact of each of the following scenarios on ONLY the market for apples in Gauteng.• State whether each of the following scenarios will impact the demand or the supply curves for apples.• State whether the impact will shift the curve or cause a movement along the curve.• If it is a shift, state the direction of the shift and motivate your answer. 1) The price of input costs has increased, ceteris paribus.2) Household incomes have increased. Assume that apples are a normal good.If the price of coffee increases, then: Select one: O A. Demand for coffee substitutes will increase. B. Demand for coffee substitutes will decrease OC. Demand for coffee will decrease. O D. Quantity demanded coffee will increase.
- 11.If close substitutes are difficult to find in the short run, which of the demand curves in the figure best represents market demand in the short run? A) DI ( B) D2 C) Both curves are short-run curves. D) Both curves are long-run curves.D. Now generate the seller’s supply curve of mask in the short run.Explain grafically the Considerations in setting price?
- Illustrate using an appropriate diagram where amazon.com sets price to maximise profit to explain in some detail how the outcomes to customers compare to a more competitive, price-taking firm. In your diagram, assume at the profit-maximising point in Q2 of 2021 the average price of items is $27*, and also that Amazon’s online shopping customers are very price-conscious. Use hypothetical values (rough guesses) relying on intuition for quantities and cost. In your answer, do a little more additional research and elaborate on alleged ways the monopolist sustains its profitability in light of the accusations of the attorney general for the District of Columbia.The price of the commodity is P4/unit. Complete the table below Q Demand Supply TR TFC TVC TC AVC AFC AC MR MC Profit 0 100 0 0 100 0 100 4 4 -100 10 90 10 40 100 40 140 4 10 14 4 -100 20 80 20 80 100 155 2.75 5 7.75 30 70 30 120 100 67 40 60 40 160 100 77 177 1.925 4.425 50 50 50 100 86 186 60 40 60 240 100 193 1.55 3.216667 70 30 70 100 113 213 80 20 80 320 100 143 1.7875 1.25 3.0375 90 10 90 360 100 283 10 77 100 0 100 400 100 283 2.83 3.83 4 3.83 17 1. Graph the demand and supply2. Graph the TR, TC, and profit3. Graph the ATC and MC4. Graph the ATC, MC, MR, AVC & MC5. Provide a brief explanation on the graph no. 4The price of the commodity is P4/unit. Complete the table below Q Demand Supply TR TFC TVC TC AVC AFC AC MR MC Profit 0 100 0 0 100 0 100 4 4 -100 10 90 10 40 100 40 140 4 10 14 4 -100 20 80 20 80 100 155 2.75 5 7.75 30 70 30 120 100 67 40 60 40 160 100 77 177 1.925 4.425 50 50 50 100 86 186 60 40 60 240 100 193 1.55 3.216667 70 30 70 100 113 213 80 20 80 320 100 143 1.7875 1.25 3.0375 90 10 90 360 100 283 10 77 100 0 100 400 100 283 2.83 3.83 4 3.83 17
- The price of the commodity is P4/unit. Complete the table below. Q Demand Supply TR TFC TVC TC AVC AFC AC MR MC Profit 0 100 0 0 100 0 100 4 4 -100 10 90 10 40 100 40 140 4 10 14 4 -100 20 80 20 80 100 155 2.75 5 7.75 30 70 30 120 100 67 40 60 40 160 100 77 177 1.925 4.425 50 50 50 100 86 186 60 40 60 240 100 193 1.55 3.216667 70 30 70 100 113 213 80 20 80 320 100 143 1.7875 1.25 3.0375 90 10 90 360 100 283 10 77 100 0 100 400 100 283 2.83 3.83 4 3.83 17 4. Graph the ATC, MC, MR, AVC & MC5. Provide a brief explanation on the graph no. 4Suppose that two supply curves pass through the same point. One is steep, and the other is flat. Which of the following statements is correct?Explain the impact of each of the following scenarios on only the market for apples in Gauteng. >state whether each of the following scenarions will impact the demand or supply cirves for apples > state whether the impact will shift the curve or cause a movement along a curve > if is is a shift, state the direction of the shift and motivate your answer Q2..1 Eating apples is considered unhealthy ,ceteris paribus. Q2.2 The number of firms selling apples in Gauteng has decreased.