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- Please no written by hand and no image 6. The supply of wheat is given by the following equation: Qw=-6+4Pw-2PC-PF W where Q is the quantity of wheat supplied, in millions of bushels; Pw is the price of wheat per bushel; Pc is the price of corn per bushel; and P, is the price of tractor fuel per gallon. F a. Graph the inverse supply curve when corn sells for $4 a bushel and fuel sells for $2 a gallon. What is the supply choke price? b. How much wheat will be supplied at a price of $4? $8? c. What will happen to the supply of wheat if the price of corn increases to $6 per bushel? Explain intuitively; then graph the new inverse supply carefully and indicate the new choke price. d. Suppose instead that the price of corn remains $4, but the price of fuel decreases to $1. What will happen to the supply of wheat as a result? Explain intuitively; then graph the new inverse supply. Be sure to indicate the new choke price.graph the line of demand and the of line of supply showing point of equilibrium of these two equations: Qsupply = 2.5P + 30Qdemand= -20P + 370Market Equilibrium A retail chain will buy 800 televisions if the price is $350 each and 1200 if the priceis $300. A wholesaler will supply 700 of these televisions at $280 each and 1400 at $385 each. Assumingthat the supply and demand functions are linear, findthe market equilibrium point and explain what itmeans.
- With the information in the picture identify the determinant(s) and explain the shift in market equilibrium.Q:1 Calculate the market Price/output equillibrium. Graph where equlibrium point, CS and PS is Q:2 Calculate the new Price/output equlibrium, the new CS, PS. Is there dead Weight loss?The Krampf Lines Railway Company specializesin coal handling. On Friday, April 13, Krampf hadempty cars at the following towns in the quantitiesindicated: Town Supply of Cars Morgantown 35 Youngstown 60 Pittsburgh 25 By Monday, April 16, the following towns will needthe numbers of coal cars listed: Town Demand for Cars Coal Valley 30 Coaltown 45 Coal Junction 25 Coalsburg 20 Using a railway city-to-city distance chart, the dis-patcher constructs a mileage table for the preceding towns. The result is shown in the table on this page.Minimizing total miles over which cars are movedto new locations, compute the best shipment of coalcars.
- 1. Caribbean economies tend to rely heavily on the Tourism sector, offering Sun, Sea andSand as the “tourism product” for which tourists purchase hotel accommodationsto enjoy. Hoteliers offer these services and are therefore major “suppliers” in thismarket.In 2017 however, several natural disasters affected the Caribbean, resulting ineconomic, environmental and human losses. In order to analyze the impact ofthese Natural Disasters on the hotel industry, answer the following questions. a. With the use of an appropriate demand and supply diagram for hotel rooms(accommodation), illustrate and explain how the news of an impending Tropical Stormto the Caribbean region would affect the market price (hotel rates) and quantity tradedof hotel rooms.b. Following the destruction of hotel infrastructure from the passage of the Hurricanes, usean appropriate demand and supply diagram for hotel rooms (accommodations) toillustrate and explain the impact of the Hurricanes on the market price and…3.In Avenger City, there are various fried chicken consumers withFea es like Captain America, Thor and Black panther. Consumers with Characteristics of Captain America has a demand function for fried chicken with DCA(p)=10-2p, while Thor is DT(p)=5-p and Black Panther is DBP(p)=20-4p. The number of consumers with characteristics such as Captain America is 50, Thor 100 and Black Panther 150. If the price of Fried Chicken is $5, then:A. What is the total demand for fried chicken for consumers withFeatures like Captain America?B. What is the total demand for fried chicken for consumers withFeatures like Thor?C. What is the total demand for fried chicken for consumers withFeatures like Black Panther?D. What is the total demand at market level for fried chicken whenthe price is $5? If the price of fried chicken is $10, then:A. What is the total demand for fried chicken for consumers withFeatures like Captain America?B. What is the total demand for fried chicken for consumers withFeatures…During 2020, due to COVID 19, the demand for hygiene kits has increased by 60% at the same times the cost of raw material for producing hygiene kits has decreased by 25%. Explain the effects on the market equilibrium of hygiene kits? using graph
- ***Just the last paragraph of the question please*** A ski resort in the White Mountains has conducted market and cost studies, and has determined that the demand and supply for ski-lift tickets at their resort are represented by: Qd=1750 - 5P - 8PR + 2PB; Qs=50 + 20P - 3PE. In these equations, P represents the price of a full-day lift ticket, in dollars per ticket; PR is the price of a ski-rental package; PB is the price of a pint of beer at the local pub in the nearby town; and PE is the price per megawatt hour for the electricity used to run the chair lifts on the ski slopes. Based on the equations above, determine whether the beer in the local pub is a substitute or complement to skiing. Briefly explain your answer. Suppose the price of a ski-rental package is $20, the price of a pint of beer is $5, and the price of electricity is $150 per megawatt hour. Calculate equilibrium price and quantity of ski-lift tickets. Now consider the more general relationship between the price of…You normally take the bus to school and it costs you $2 roundtrip. Let's say the bus line was eliminated and now you have to drive to school at a roundtrip cost of $8. Your demand for trips (Q) to school as a function of the roundtrip cost of a trip (P) is: D: Q = 20 - 2P What would you be willing to pay for the reintroduction of the bus line?4 Some online retailers include free shipping while others charge for shipping. In July 2006, bajangles.com offered a Sony 60-inch rear projection TV for $2,968.99 with free shipping, while MB superstore offered the same TV for $2,692.95 with shipping charge of $299.50 to Alaska. (a) Using relevant demand and supply curves, explain whether it matters for consumers if the retailer offers free shipping or charges for shipping. (b) If consumers view bajangles.com and MB superstore as equivalent (in terms of quality of service), how should their prices for the same TV compare? Are the prices consistent with your answer in (a)? (c) If consumers are biased in decision-making by anchoring, how would that affect your answer in (a)?
