(Figure: Predicting Supply Shifts) The shift from S₁ to S₂ might be caused by an increase in Price S₁ Quantity O national income. resource costs. the prices of other goods made by firms. O subsidies.
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- (Figure: Shift in Supply 1) Use the figure to answer the question. Price 7/- Old supply New supply Quantity Which of the following events would lead to a shift of the supply curve from Old supply to New supply? O technological advance in production techniques O increased taxation of raw materials used by producers a natural disaster that causes a shutdown of production O a decrease in the size of the market(Figure: Shift in Supply 2) Use the figure to answer the question. Price New supply 7% Old supply Quantity Which market change would lead to a shift of the supply curve fromOld supplytoNew supply? O a. a drop in the number of consumers of this product O b. a decrease in income taxes on consumers O C. fewer sellers in the market O d. an expectation that future prices of the product will be lower(Figure: Market for Tropicana Juices) Tropicana produces both orange juice and lemonade. What will happen to the supply of Tropicana orange juice when the price of lemonade rises in the market and the price of orange juice stays the same? Price Price Price Price Supply Supply Old Old price New New price supply supply New Old Old price New price supply B supply Quantity New quantity quantity Old Quantity Quantity Old quantity quantity New Quantity O Graph D O Graph C O Graph A O Graph B
- (Figure: Shift in Supply 1) Use the figure to answer the question. Price Old supply New supply Quantity Which of the following events would NOT lead to a shift of the supply curve from Old supply to New supply? O an increase in the number of firms in the market O an increase in demand for the product O decreased taxation of raw materials used by producers O technological advance in production techniques(Figure: Shift in Supply 1) Use the figure to answer the question. Price Old supply New supply Quantity Which of the following events would lead to a shift of the supply curve from Old supply to New supply? a decrease in the size of the market a natural disaster that causes a shutdown of production O technological advance in production techniques O increased taxation of raw materials used by producers(Draw this out to check your work) If both the supply curve and demand curve shift to the RIGHT at the SAME TIME, equilibrium quantity will definitely increase and equilibrium price will Group of answer choices - definitely increase. - definitely decrease. - definitely stay the same. - either increase, decrease, or stay the same, depending on which curve shifts the farthest.
- S, S2 S3 B. Number of pizzas per week Figure 4: Price of Pizza Versus Number of Pizzas per week All the questions below are referring to Figure 4 and explain your answer i. At Supply Curve S2, an increase in quantity supplied is represented by the movement from ii. At Supply Curve S2, a decrease in quantity supplied is represented by a movement from ii. At equilibrium point B of the Supply Curve S2, explain what the impact of a reduction in wages for pizza workers would be. Price of pizzaJamaica Flour Mills imports wheat and uses it to produce flour in Jamaica.lf the price of wheat falls, what could we expect? Select one: O a. The supply of flour to increase b. A movement along the flour supply curve C. The supply of flour to decrease. d. The demand for flour to decrease. The demand for flour to increase.2. Predict the impact on equilibrium price and quantity for the relevant markets given the following changes. 1. What would happen in the market for office buildings if: d). the number of firms that build offices declined. e). The price of cement rose. Please support answers with a graph.
- When the market price is lower than the equilibrium price, the result is excess ____.When the market price is higher than the equilibrium price, the result is excess _____. Question 1Answer a. Supply; demand b. Demand; demand c. Demand; supply d. Supply; supplyQuestion 2 12 Price 11 10 9 B Demand for Rice 0 -1 D 1 2 3 4 5 6 7 Supply of Rice Quantity of Rice 9 10 11 12 13 In the above graph, at the price of $7 per ton, the country experiences an excess demand of about 5 units of rice. an excess demand of about 3 units of rice. an excess supply of about 3 units of rice. an excess supply of about 6 units of rice.B. Calculate for the demand and supply equation
