Give an example of the price of a good changing. Explain what determinant of supply or demand you think led to this change. (For example, the price of laptop computers has decreased in recent years due to technological change.)(please make the response a paragraph)

Q: Do you agree or disagree with each of the following statements? Briefly explain your answers and…

A: The law of demand asserts an inverse relationship between the quantity demanded of a good or service…

Q: Do you agree or disagree with each of the following statements? Briefly explain your answers and…

A: Dear student,  As the question contains multiple sub parts. I am going to answer first three sub…

Q: The following graph shows the market for laptops in 2010. Between 2010 and 2011, the equilibrium…

A: The markets are the place where the buyers and the sellers of various goods, services, and other…

Q: Which of the following graphs shows what will happen to the supply curve for luxury SUVs, if…

A: Supply Curve: It is the graphical object showing the relationship between the price of a good and…

Q: (Supply) What is the law of supply? Give an example of how you have observed the law of supply at…

A: In economics, the idea of supply is complicated, with several mathematical formulas, practical…

Q: Explain, using demand and supply analysis, the impact on the market for chocolate if a famous singer…

A: Customers are strongly influenced by the commercial since it piques their interest. Although the…

Q: d. The price of good A falls. This causes an increase in the price of good B.  Therefore, goods A…

A: The price of a good and the demand for the other good may be related to each other. If, the price of…

Q: Suppose one of your friends offered the following argument: a rightward shift in demand will cause…

A: According to the inverse demand function, an increase in price leads to an increase in demand. This…

Q: Draw a graph showing the equilibrium price for the pre-hurricane demand for and supply of bottled…

A: The market supply curve of a commodity can shift as a result of a change in technology, resource…

Q: Instruction – Please answer all the questions with your own words or fill in the blanks.…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: The price of a gallon of gasoline has been rising in the last few weeks. Using the model of supply…

A: In a demand and supply model, the market price and quantity are determined at a point where the…

Q: 3. The following graph shows the supply curve for sedans in an imaginary market. For simplicity,…

A: Here, it is given that the supply of sedans is only affected by the wage rate or technological…

Q: Consider the market for baseball bats below (and assume it can be analyzed in our typical…

A: Economic harmony is a condition or state wherein monetary powers are adjusted.  Economic balance is…

Q: n your own words answer the following question Demand, Supply, and how the two work together to…

A: The demand curve illustrates the inverse relationship between quantity demanded and price, keeping…

Q: What is a supply table? How do you obtain a supply curve from a supply table?

A: Supply table is a schedule or a tabular statement which gives different quantity supplied of a good…

Q: Explain in your own words the Law of Demand and the Law of Supply. What is the relationship of the…

A: A consumer's desire to buy goods and services, as well as their readiness to pay a price for such…

Q: The first group of students thinks the increase in the price of pizzas is due to the fact that…

A: 1.  Initially, the price of pizza is P and the quantity supplied is Q. When some pizza shops go out…

Q: Select the phrase that correctly completes the following statement. "A positive change in technology…

A: The markets around the world tend to operate upon the forces of the supply of goods, and services,…

Q: Do you agree or disagree with each of the following statements? Briefly explain your answers and…

A: (a) The price of coffee rises, hence the demand for coffee falls. If the demand for sugar falls…

Q: The computer market in recent years has seen many more computers sell at much lower prices. What…

A: The outcome is that many computers have been sold at lower prices. To show this outcome,2 shifts of…

Q: What is the Law of Supply? Can you list the five determinants of supply?

A: The markets around the world are considered to be important for the working of the development, and…

Q: Consider the following events: Scientists reveal that eating oranges decreases the risk of diabetes,…

A: Equilibrium in the market is achieved by the interaction of demand and supply curve . It determines…

Q: Suppose we are analyzing the market for hot chocolate.  Graphically illustrate the impact the…

A: Normal good refer to those goods whose demand increases with an increase in income of the consumer…

Q: The following graph shows the market for roses in 2009. Between 2009 and 2010, the equilibrium…

A:

Q: Assume gadgets are sold in a competitive market, the equilibrium price is $6, and the equilibrium…

A: Given  Gadgets are sold in a competitive market.  The equilibrium price is $6.  The equilibrium…

Q: The next four questions refer to the following supply and demand graphs: III IV XXI D, 33. Consider…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: Do you agree or disagree with each of the following statements? Briefly explain your answers and…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

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: How would you explain the law of supply and demand in simple terms?

A: Law of supply and law of demand are two fundamental concepts in economics.

Q: Do you agree or disagree with each of the following statements? Briefly explain your answers and…

A: The equilibrium price is where demand is equal to supply.

Q: Do you agree or disagree with each of the following statements?  Briefly explain your answers and…

A: The movement along the dd curve occurs when the prices variate for a good, and other factors such as…

Q: Assume that a scientific study came out confirming that consuming one teaspoon of Nutella a day…

A: As per the scientific study if consuming one teaspoon of Nutella a day decreases the rate of heart…

Q: Why are economists so particular about the difference between an increase in quantity demanded and…

A: The economics as a study is based upon the basic idea that there is scarcity present in each…

Q: What is the difference between a "change in demand" and a "change in quantity demanded"?

A: Hey, Thank you for the question. According to our policy, we can only answer 1 question per session.…

Q: Replacement car parts are an inferior good. The country is going through a recession.…

A: The inferior goods are the goods whose demand increases when the income falls, as they can not…

Q: Explain the following cases through graph.   Pepsi and pizza are complements because they are often…

A: Complimentary goods are the goods that are consumed together such as right and left shoes.

Q: Do you agree or disagree with each of the following statements? Briefly explain your answers and…

A: Demand curve reflects the quantity demanded of a good with respect to a given price. An increase in…

Q: Do you agree or disagree with each of the following statements? Briefly explain your answers and…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

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

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: From the following examples explain which one is expansion of demand and increase in demanded. i)…

A: i) It is an expansion of demand  Increase in demand for chocolate ice creams due to increase in…

Q: Suppose we are analyzing the market for hot chocolate.  Graphically illustrate the impact the…

A: The equilibrium price is known as the prevailing market price. The equilibrium price arises at the…

Q: Explain, with the aid of a graph, how a negative research finding about the impact of homemade masks…

A: Demand is referred to as amount of goods and services that a consumer is willing and able to buy at…

Q: In 2018, economists were predicting that the demand for electric vehicles would rise in 2019,…

A: If in 2019, the demand will increase, it leads to higher price and higher quantity but this does not…

Q: Suppose we are analyzing the market for hot chocolate.  Graphically illustrate the impact the…

A: Cocoa is a major raw material of chocolate. Introduction of a better method of harvesting cocoa…