Expalin why/ when? (a) Producers/sellers are bound to follow law of supply? (b) The price of poultry seems to be increasing in Rawalpindi in the coming week. What would happen to the market price of poultry today? Explain graphically.
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Expalin why/ when?
(a) Producers/sellers are bound to follow law of supply?
(b) The
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- Based on the principles of demand and supply, how is the rising price of gassoline determined? Should the government regulate the price?A recent typhoon hits the Philippines where most of the raw materials are produced. What non-price determinant/s will affect the supply and in what way? How will it affect the country’s economy?Why/When Producers/sellers are bound to follow law of supply?
- Describe an outlook for the price of fertilizer, in regards to the price of oil. How big of a role does oil play? Is the price of the good greatly affected by the price of oil?In Louisiana, florists must be licensed by the state. In many states, auctioneers mustbe licensed as well. Barbers and beauticians are also often subject to licensing. Trade groups willusually say that these regulations are to ensure quality. What else might be at work? Does thishurt consumers? How does it affect the market? (Use a supply and demand diagram to answer.)Now consider a different situation. A flood has occurred at rural areas in Bangladesh, which has caused local people to sell their livestock (i.e. chicken, duck, cow, goat) at low price in the market. Because of this event, what would happen to the market of salad items? What would happen to the market of Kachchi biryani, Morog Polaw, and chicken biryanis? Explain (in details) with relevant diagrams/graphs.
- The first step in conducting a Supply and Demand Analysis is identifying the Change in the World. Also, look at the images for this problem. The Change in the World is the A in the If A then B positive statement. Once the A has been determined, Supply and Demand Analysis can determine the B. In Burma the typhoon hit. Peoples homes and farms were destroyed. Pick which bold choices are correct. As result, The demand for corrugated roofing shifted left, the demand for corrugated roofing shifted left, The demand for nails increased or decreased, and the supply for food decreased or increased?Before pandemic, face masks are only used in certain hospitals handling highly contagious pulmonary diseases such as San Lazaro Hospitals and the ICUs of every hospital. However, studies and other health organizations and agencies talk about it’s effectivity to prevent people from contacting the virus. Which of the following non-price determinants will affect the supply and in what way? How will it affect the country’s economy?(A) Given the following data on individual supply and demand, calculate the market supply and demand. (B) what is the equilibrium price? (C) supposed the current price is $4, at this price, how much of a shortage or surplus exists in gallons?
- Discuss the followings in detail: a) What is the role of price in quantity demand & supply and what is the market equilibrium?b) What is system of linear equation and its possible solution method and types of solution set.Use the theory of the market (i.e. demand and supply) to explain what is happening in each of the following scenarios:Asap!! Rapid economic growth in the early 2000s leads to a sharp upturn in oil prices. 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?