Price 150 + 140 130 Domestic supply 120 110 World price 100 90 н 80 70 Domestic demand 60 50 40 30 20 10 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 Quantity
Q: 10 Supply 8. S 6 Y-- 2 1 0 1 2 6 7 QUANTITY (Combs) 4 5 8 10 PRICE (Dollars per comb) 3.
A: Here, the given graph shows an upward sloping line with quantity on x-axis and price in y-axis.
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A: equilibrium is achieved at the output level where Qs=Qd
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Q: $13 $12 Supply $11 $10 $9 $8 3 $7 $6 $5 $4 Demand $3 $2 $1 $0 50 100 150 200 250 300 350 400 450…
A: Equilibrium is achieved at the output level where Qs equals Qd. Thus Q* = 200 units P* = $ 8
Q: Price 38 Supply 34 28 22 16 Demand 10 6 4 5 10 20 30 50 60 70 80 90 Quantity 40 2.
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Q: Price 76 Domestic Supply 72 68 64 60 56 52+ 48 + 44+ 40 36 32 28 World price + tariff 24 20 World…
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- the Canadian-goverment is trying to decide between three(3) policies that affects the market of cigars.Policy One: a price support program for the Industry tobacco farmers Policy two: Label requirements and ADs marketing danger awareness warnings to the public.Policy three: a cap on no. of cases of cigars sold per-quarter at twentyfive thousand (25000)casesIdentify the impact on the market of cigarsUsing the list of options of possible impacts, select what is happening in the following markets if Policy ONE is enacted..i.Supplyii.Priceiii.Quanityiv.Demandthe Canadian-goverment is trying to decide between three(3) policies that affects the market of cigars.Policy One: a price support program for the Industry tobacco farmers Policy two: Label requirements and ADs marketing danger awareness warnings to the public.Policy three: a cap on no. of cases of cigars sold per-quarter at twentyfive thousand (25000)casesIdentify the impact on the market of cigarsUsing the list of options of possible impacts, select what is happening in the following markets if Policy THREE is enacted..i.Supplyii.Priceiii.Quanityiv.Demandnomics Volume of Production Price (dollars) Total Production Cost (dollars) 10 1434 22841 30 991 26408 35 917 23781 45 1020 29675 70 703 38801 100 298 44834 4. Compute the slope of the demand curve. The potential answers are: A: -12.89 B: -10.5 C: -11.33 D: -14.28 E: -10.64 5. Compute the maximum potential sales quantity. The potential answers are: A: 127 units. B: 125 units. C: 105 units. D: 116 units. E: 168 units . 6. What percentage of total costs can be estimated based on the volume of production? The potential answers are: A: 69% B: 97% C: 91% D: 94% E: 92%
- A AWB Company is interested in obtaining quick estimates of the supply and demand curves for coal. The firm's research department informs you that the elasticity of supply is approximately 1.7, the elasticity of demand is approximately -0.85, and the current price and quantity are $41 and 1,206, respectively. Price is measured in dollars per ton, quantity the number of tons per week. Estimate linear supply and demand curves at the current price and quantity. Illustrate both curves on a diagram. What impact would a 10% increase in demand have on the equilibrium price and quantity? Illustrate this impact on similar diagram in part (i) If the government refused to the price increase when demand increased in (ii) above,how much shortage is created?. Mark the shortage on the diagram in part (ii)the Canadian-goverment is trying to decide between three(3) policies that affects the market of cigars.Policy One: a price support program for the Industry tobacco farmers Policy two: Label requirements and ADs marketing danger awareness warnings to the public.Policy three: a cap on no. of cases of cigars sold per-quarter at twentyfive thousand (25000)casesIdentify the impact on the market of cigars Using the list of options of possible impacts, select what is happening in the following markets if Policy two is enacted..i.Supplyii.Priceiii.Quanityiv.DemandAlong with many other producers, you own a small oil well. The market is very competitive. Themarginal extraction cost is $10 per barrel. The interest rate is 5%. The annual demand for oil isQ = 90,000 – 2,000P where Q is in barrels per year and P is in dollars per barrel.Use your knowledge about Hotelling’s Rule to answer the following questions: Oil is trading for $25/bbl on Jan 1st, 1999. What do you expect the path of oil pricesand extraction quantities to be from 1999-2010 (assuming no shocks to the market)?A day later, on Jan 2nd, 1999, the Wall Street Journal opens with a story that there is now amore reliable reserves estimate. Total reserves are estimated at 760,000 barrels.
- Along with many other producers, you own a small oil well. The market is very competitive. Themarginal extraction cost is $10 per barrel. The interest rate is 5%. The annual demand for oil isQ = 90,000 – 2,000P where Q is in barrels per year and P is in dollars per barrel.Use your knowledge about Hotelling’s Rule to answer the following questions: Oil is trading for $25/bbl on Jan 1st, 1999. What do you expect the path of oil pricesand extraction quantities to be from 1999-2010 (assuming no shocks to the market)?A day later, on Jan 2nd, 1999, the Wall Street Journal opens with a story that there is now amore reliable reserves estimate. Total reserves are estimated at 760,000 barrels. b. What is the oil price directly after this news becomes public? When will the worldrun out of oil, assuming no more oil is discovered? [Hint: use a spreadsheet.]You have a couple million dollars to spend on Dec 31st, 1999. You decide to quickly buy out allsmall oil producers. By Jan 1st, 2000, you are…A company is considering building a bridge across ariver. The bridge would cost $2 million to build andnothing to maintain. The following table shows thecompany’s anticipated demand over the lifetime ofthe bridge:Price per CrossingNumber of Crossings,in Thousands$8 07 1006 2005 3004 4003 5002 6001 7000 800a. If the company were to build the bridge, whatwould be its profit-maximizing price? Would thatlevel of output be efficient? Why or why not?b. If the company is interested in maximizing profit,should it build the bridge? What would be itsprofit or loss?c. If the government were to build the bridge, whatprice should it charge?d. Should the government build the bridge?Explain.Economics is a science describing the use of scarce resources to satisfy needsand unlimited wants. (a) Discuss how supply and demand for shipping tonnage affect freight rates in theshipping industry. (b) Justify the inelastic demand nature for shipping by sea. (c) Inelastic supply drives freight rates up. Explain.
- Table 1: Production Capacity of COVID-FREE LAND.Toilet Rolls Sanitizers30,000 028,000 1,00024,000 2,00018,000 3,00010,000 4,0000 5,000Use information in Table 1 above to answer the following questions: Normally, the people of COVID-FREE LAND demand of 3,000 sanitizers and 18,000 toilet rolls. Suddenly, there is an outbreak of COVID-19 and the demand for sanitizers and toilet rolls has increased to 4,000 and 20,000, respectively. How would COVID-FREE LAND meet itsnew demand. Identify and comprehensively discuss at least three possibilities or ways. State all appropriate assumptions made8. (Environmental Protection) Four federal laws and subse- quent amendments underpin U.S. environmental protec- tion. Identify these laws.29. After lockdowns were declared globally in 2020, the price of oil crashed from $64per barrel in January to $18 per barrel in April. What is the most likely reason thatlockdowns contributed to the oil price crash?(A) Supply increased due to oil companies reallocating resources to help with theCOVID-19 pandemic.(B) Supply decreased due to oil workers being furloughed.(C) Demand increased from factories producing Personal Protective Equipment foressential workers.(D) Demand decreased since fewer people were commuting to work.
