please please solve this problem urgently and perfectly. mention correct answer as you give.i will give positive rating if you give correct answer Question 34In a market economy, the supply and demand framework shows that people who supply the goods and services are thosewho cannot supply those goods and services most cheaply.who want to supply those goods and services most cheaply.who have the ability and willingness to supply those goods and services.who can supply those goods and services most cheaply.

The supply curve denotes the relationship between the price of the good and the quantity of the good…

Question 34 In a market economy, the supply and demand framework shows that people who supply the goods and services are those Owho cannot supply those goods and services most cheaply. Owho want to supply those goods and services most cheaply. who have the ability and willingness to supply those goods and services. who can supply those goods and services most cheaply.

Question 34 In a market economy, the supply and demand framework shows that people who supply the goods and services are those Owho cannot supply those goods and services most cheaply. Owho want to supply those goods and services most cheaply. who have the ability and willingness to supply those goods and services. who can supply those goods and services most cheaply.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter5: Markets In Motion And Price Controls

Section: Chapter Questions

Problem 3P

See similar textbooks

Similar questions

In the financial market, what causes a movement along the demand curve? What causes a shift in the demand curve?
In an analysis of the market for paint, an economist discovers the facts listed below. State whether each of these changes will affect supply or demand, and in what direction. There have recently been some important cost-saving inventions in the technology for making paint. Paint is lasting longer so that property owners need not repaint as often. Because of severe hailstorms, many people need to repaint now. The hailstorms damaged several factories that make paint, forcing them to close down for several months.
How does a price floor 521 above the equilibrium level affect quantity demanded and quantity1 supplied?
Table 4.6 shows the amount of savings and barrowing in a market for loans lo purchase homes, measured in millions of dollars, at various interest rates. What is the equilibrium interest rate and quantity in the capital financial market? How can you tell? Now, imagine that because of a shift in the perceptions of foreign investors, the supply curve shifts so that there will be 10 million less supplied at every interest rate. Calculate the new equilibrium interest rate and quantity, and explain why the direction of the interest tale shift makes intuitive sense.
Does a price floor attempt to make a price higher or lower?
Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw a diagram to show the effect on the price and quantity of minivans. a. People decide to have more children. b. A strike by steelworkers raises steel prices. c. Engineers develop new automated machinery for the production of minivans. d. The price of sports utility vehicles rises. e. A stock market crash lowers peoples wealth.