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4) New technology enables computers to be made at lower cost. Explain the effects on the market
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- 2) A news report is released about the negative health effects of using notebookcomputers. Consumers are concerned. Explain the effects on the market priceand quantities of Dell notebook computers?12- In a diagram showing equilibrium of demand and supply, Excess supply is found ____________. a. below the equilibrium point b. on the equilibrium point c. all of these d. above the equilibrium point6. Which of the following will shift the supply curve of shade-grown, organic coffee to the right? a) An increase in the price of commercially grown coffee. b) An increase in the cost of land suitable for growing shade-grown, organic coffee. c) The expectation of falling prices in the future for shade-grown, organic coffee. d ) An increase in the number of farmers with the skills necessary to grow shade-grown, organic coffee. e) All of the above . None of the above.
- 1. Predict the impact on equilibrium price and quantity for the relevant market given the following changes. 1. What will happen in the market for home computers if: a)consumers become more familiar with the use and benefits of home computers. b)there is a technological cost saving breakthrough in producing home computers. c) both (a) and (b) occur simultaneously. Please support with a graph.17.- Mention and explain what each of the types of supply , for the analysis of the supply.8. Assume that the demand for films is given by Q = 45 − 2P and the supply is given byQ = 15 + P. What are the equilibrium price and quantity of films?(a) P = 10 and Q = 25(b) P = 12 and Q = 21(c) P = 12 and Q = 15(d) P = 25 and Q = 10(e) None of the above
- 1. Online the timing and tailoring of prices to specific models of products is the key to successful pricing in online markets. And “Thanks to the ready availability of data in online markets, a pricing manager can easily approximate the elasticity of demands for the different products it sells online.” Assuming a 10 percent decrease in price increases sales by 28 percent, calculate the price elasticity of demand? If the wholesale price of the online product is $50 and sells at a price comparison site that charges $.50 per click and boasts a conversion rate of 5 percent (an average of 20 clicks are needed to generate a sale). What price should you charge for the product? What is the optimal markup on cost? 2. The authors assert that price sensitivity is affected by (1) product life cycles, and (2) numbers of competitors. In fact, “when the number of competing sellers doubles, a firm’s elasticity of demand is expected to double (and you should be able to verify this through…Volkswagen’s reputation among car buyers was shattered when the public discovered it was cheating on its emissions checks. What happened to equilibrium prices and quantities in the market for Volkswagen after this scandal? The equilibrium priceTable 4 The Market for Car-Seat Heaters Price (dollars per heater) Quantity Demanded (heaters per month) Quantity Supplied (heaters per month) 40 50 60 70 80 90 100 500 450 400 350 300 250 200 300 350 400 450 500 550 600 d) Refer to Table 5 Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns. As a result, demand decreases by 100 heaters at each price. The new equilibrium price is $____and the new equilibrium quantity is ____ heaters per month. e) Refer to Table 5 Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns. As a result, demand decreases by 100 heaters at each price. Simultaneously, the cost of production rises, and supply decreases by 100 heaters at each price. The new equilibrium price is $________ and the new equilibrium quantity is ________ heaters per month.
- More latest brands of notebook computers are now available to consumers. Explain the effects on the market price and quantities of Dell notebook computers? explain with graph.22. Suppose market demand and supply are given by Qd = 300 - 4P and QS = -50 + 3P. The equilibrium price is: $50 $40 $35 $605. If supply changes from S2 to S1 and demand from D2 to D1 a) equilibrium price rises to $ 14. b) equilibrium quantity increases to 16. c) equilibrium price decreases. d) supply has decreased.