Improved robot technology was recently incorporated into the process of producing automobiles. What will happen in the market for automobiles in the short-run? Answer questions 14 and 15 based on the situation: _____ 14) Which of the following changes will occur: a) Demand will increase b) Demand will decrease c) Supply will increase d) Supply will decrease
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Improved robot technology was recently incorporated into the process of producing automobiles. What will happen in the market for automobiles in the short-run?
Answer questions 14 and 15 based on the situation:
_____ 14) Which of the following changes will occur:
a)
b) Demand will decrease
c) Supply will increase
d) Supply will decrease
_____ 15) Which of the following changes will occur:
a) Equiibrium
b) Equiibrium price will decrease and equilibrium quantity will decrease
c) Equiibrium price will decrease and equilibrium quantity will increase
d) Equiibrium price will increase and equilibrium quantity will decrease
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- Improved robot technology was recently incorporated into the process of producing automobiles. What will happen in the market for automobiles in the short-run?Answer questions E and F based on the situation: _____ E) Which of the following changes will occur: a) Demand will increase b) Demand will decrease c) Supply will increase d) Supply will decrease _____ F) Which of the following changes will occur: a) Equilibrium price will increase and the equilibrium quantity will increase b) Equilibrium price will decrease and the equilibrium quantity will decrease c) Equilibrium price will decrease and the equilibrium quantity will increase d) Equilibrium price will increase and the equilibrium quantity will decreaseBased on new scientific evidence, it was determined that consuming red wine will extend your life, on average, by 5 years. What will happen in the market for red wine in the short run? Answer questions C and D based on the situation: _____ C) Which of the following changes will occur: a) Demand will increase b) Demand will decrease c) Supply will increase d) Supply will decrease _____ D) Which of the following changes will occur: a) Equilibrium price will increase and the equilibrium quantity will increase b) Equilibrium price will decrease and the equilibrium quantity will decrease c) Equilibrium price will decrease and the equilibrium quantity will increase d) Equilibrium price will increase and the equilibrium quantity will decreaseQuestion 1 Samsung Electronics Co. Ltd said on Thursday it expects chip shortages to affect chip demand from some customers in the final three months of the year, after reporting its highest quarterly profit in three years.The warning comes as producers of goods from televisions to cars have faced a host of supply chain issues ranging from a shortage of logic chip parts, manpower shortages, logistics snarls, and delays at parts plants due to power cuts in China. Samsung said demand for server DRAM chips, which temporarily save data, and NAND flash chips that serve the data storage market, is expected to stay robust in the fourth quarter due to expansion of data centre investments. Although supply chain issues could limit demand from some mobile chip customers in the fourth quarter, demand for server and personal computer chips is expected to be robust in 2022 despite uncertainties, it said. Analysts expect Samsung's fourth quarter earnings to be level or below its third quarter…
- Question 1 Samsung Electronics Co. Ltd said on Thursday it expects chip shortages to affect chip demand from some customers in the final three months of the year, after reporting its highest quarterly profit in three years.The warning comes as producers of goods from televisions to cars have faced a host of supply chain issues ranging from a shortage of logic chip parts, manpower shortages, logistics snarls, and delays at parts plants due to power cuts in China. Samsung said demand for server DRAM chips, which temporarily save data, and NAND flash chips that serve the data storage market, is expected to stay robust in the fourth quarter due to expansion of data centre investments. Although supply chain issues could limit demand from some mobile chip customers in the fourth quarter, demand for server and personal computer chips is expected to be robust in 2022 despite uncertainties, it said. Analysts expect Samsung's fourth quarter earnings to be level or below its third quarter…Consider that tennis rackets and tennis balls are complements. If the price of tennis rackets decrease, what will happen in the market for tennis balls in the short-run? Answer questions 16 and 17 based on the situation: _____ 16) Which of the following changes will occur: a) Demand will increase b) Demand will decrease c) Supply will increase d) Supply will decrease _____ 17) Which of the following changes will occur: a) Equiibrium price will increae and equilibrium quantity will increase b) Equiibrium price will decrease and equilibrium quantity will decrease c) Equiibrium price will decrease and equilibrium quantity will increase d) Equiibrium price will increase and equilibrium quantity will decreaseConsider that unusually good weather in Washington led to a bumper crop of blueberries in the state. What will happen in the market for blueberries in Washington? Answer questions A and B based on the situation: _____ A) Which of the following changes will occur in the short-run: a) Demand will increase b) Demand will decrease c) Supply will increase d) Supply will decrease _____ B) Which of the following changes will occur: a) Equilibrium price will increase and the equilibrium quantity will increase b) Equilibrium price will decrease and the equilibrium quantity will decrease c) Equilibrium price will decrease and the equilibrium quantity will increase d) Equilibrium price will increase and the equilibrium quantity will decrease Based on new scientific evidence, it was determined that consuming red wine will extend your life, on average, by 5 years. What will happen in the market for red wine in the short run? Answer questions C and D based on the situation: _____ C) Which of the…
- Question 42 According to the Law of Supply, Group of answer choices when price goes down, sellers want to sell more units. when price goes up, sellers want to sell more units. when sellers increase quantity sold, price will go up. when price goes up, sellers want to sell fewer unitsAssuming a normal market, with a positively sloped supply and negatively sloped demand, which is initially in equilibrium. Given the situation stated below, fill in the blanks matching the effect as either: increase, decrease, no change or indeterminate (cannot determine). Market for IBM computers Technology improves for the production of IBM computers, and consumers preferences for Apple computers increases due to Apple's unique application programs (a) Supply will (Click for List) decrease is indeterminate (unable to determine) increase not change (b) Demand will (Click for List) is indeterminate (cannot determine) not change increase decrease (c) Equilibrium price will (Click for List) decrease be indeterminate (unable to determine) increase not change (d) Equilibrium quantity will (Click for List) be indeterminate (unable to determine) decrease increase not changeOnly typed answer Firm X introduces a new good A in the market. The laws of demand and supply hold for this good. The firm produces 500 units of A per month. The good does not have any close substitutes and is priced at $4 per unit. Consumers like this new product and industry analysts expect the price to rise as much as $7 before an equilibrium is reached in this market. At equilibrium, the industry analysts expect quantity demanded and supplied to be 650 units. However, Patrick Clearwater, the operations head at firm X, believes that even at a price of $7 per unit, there will still be a shortage of 100 units. Which of the following, if true, will support Patrick's view? A. There was a price ceiling at $7 which has been removed. B. Good A is an inferior good. C. Price elasticity of supply is actually lower than what is expected by the industry analysts. D. The demand for good A is highly inelastic. E. At a price of $7 per unit, the firm supplies 750 units of…
- You are the manager of medium-sized company that assembles personal computers in Ghana. You purchased most components such as random access memory (RAM), which is an input for your personal computers, on a competitive market. Based on your marketing research, consumers view personal computers in the Ghanaian market as a normal good. One morning, you picked up a copy of the Graphic Business, published by the Graphic Communications Group limited, and read an article indicating that the price of RAM have been increased effective the next day, forcing manufacturers to produce computers at a high unit cost. In addition, the article indicated that consumer incomes are expected to fall over the next two years as the economy dips into recession. Explain your answer with an appropriate diagram, how these events would affect the equilibrium price and quantity.Question 2 For each of the following events identify which of the determinates of demand or supply are affected. Also indicate whether demand or supply is increased or decreased. Why? People decide to have more children. A strike by aluminum workers rises aluminum prices. Engineers develop new automated technology for use in production. A stock market crash lowers people’s wealth. Batelco increases the prices of mobile services. Diminishing returns mean rising costs while economies of scale mean falling costs. Therefore, a firm cannot be facing both diminishing returns and economies of scale. Do you agree? Why or why not?A new technological breakthrough increases production for an industry and shifts the supply curve to the right. If the firm ________, then the firm will likely be happy about this new technology. Question 44 options: a) produces products because the consumer will buy less b) produces products that are considered inelastic c) decreases production d) produces products that are considered elastic
