Refer to the below demand a supply curves for sugar to answer the question that follows, The market for sugar is in equilibrium at a price of . and a quantity of Kilograms of sugar* 230 210 190 170 o 150 130 110 P 90 4 14 16 p 8 10 12 O $ 10,150 Kg O $110,6 Kg O $8,130 Kg O $ 150 , 10 Kg
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- [MUST SHOW WORK] Consider the above table for the market for oranges. A deep frost destroys many or the orange juice businesses to go put of business. As a result, quantity supplied decreases hper kg and the new equilibrium quantiy is.........? kg of oranges The new equilibrium price is .............? kg of oranges Select one: O A. 1.70;400 O B. 1.10; 700 O C. 1.20;650 O D. 0.90;400 O E. 1.50;500please show work Suppose there is a decrease in the hourly wages of farm workers in Ontario who harvest blueberries. This Select one: O A. shifts the supply curve of blueberries rightward. B. shifts the demand curve for blueberries rightward . O C. shifts the demand curve for blueberries leftward. O D. shifts the supply curve of blueberries leftward. O E. decreases the quantity supplied of blueberries.The US government reduces the supply of raw material for production of Covishield,. Simultaneously the vaccine awareness is increasing amidst the rising second wave of the deadly Corona Virus. In the market of Covishield we should observe O a. Reduced demand and reduced supply O b. Reduced supply and unchanged demand O c. Reduced supply and increased demand O d. Increased supply and unchanged demand
- ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P=75−2Qd.P=75−2Qd.Supply is represented by the equation P=−15+4Qs,P=−15+4Qs,where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.Instructions: Round your answer for price to 2 decimal places and enter your quantity as a whole number.a. Using the equilibrium condition Qs = Qd, determine equilibrium price. b. Now determine equilibrium quantity.Assume that the price of commodity Y rises by 13.5% and the cross price elasticity of demand with commodity X is 1.35. According to this situation, commodity X is O a. not related to commodity Y as the exact price of commodity Y has not been specified b. a complementary product as cross price elasticity of demand is positive O c. a substitute as cross price elasticity of demand is negative d.a substitute as cross price elasticity of demand is positiveADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P=20−2Qd.P=20−2Qd.Supply is represented by the equation P=−5+3Qs,P=−5+3Qs,where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.Instructions: Round your answer for price to 2 decimal places and enter your answer for quantity as a whole number. Using the equilibrium condition Qs = Qd, solve the equations to determine equilibrium price and equilibrium quantity. Equilibrium price = ? $ Equilibrium quantity = ? units
- Assume, the market price of milk is R.O 1.5 per liter. At this price, the buyers and sellers are able to buy and sell whatever they want. There is no shortage or surplus of milk in the market. From this context, analyze the statements given below and choose the correct statement. a. All of the options b. The price R.O 1.5 is the market clearing price of milk c. At the price R.O 1.5, the demand and supply of milk will be equal d. The price R.O 1.5 is the equilibrium price of milkADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P=80−2Qd.P=80−2Qd. Supply is represented by the equation P=−20+2Qs,P=−20+2Qs, where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.Instructions: Round your answer for price to 2 decimal places and enter your answer for quantity as a whole number. Using the equilibrium condition Qs = Qd, solve the equations to determine equilibrium price and equilibrium quantity.Suppose that the demand and supply schedules for raisins in South Carolina are as fallows, quantitiesare measured in millions of packs per month. What is the quantity of raisins bought if the price is 50cents ? Price (cents per pack) Quantity demanded20 18030 16040 14050 12060 10070 8080 60 a) 120b) 180c) 100
- Mr. Shrikant always spends 20% of his income on commodity 'X'. The income elasticity of demand for commodity 'X' is O a. 0,15 O b. 6.67 OC -0.15 Od . 1In equilibrium, how many stoves would be sold and at what price? The demand for stoves is given by QD=450−20? and the market supply is given by QS = 20 + 100P. (i), calculate the price elasticity of demandfor stoves when price changes to $10ii. What would happen if suppliers set the price of stoves at $15? Explainthe market adjustment process. iii. Using the response in part (i), calculate the price elasticity of demandfor stoves when price changes to $10Q8 plz help quick!!The aggregate demand for the mushroom pasta for each day is given by q = 200 - 4p, where p is the price of the pasta. If the price is $20, then the price elasticity of demand is 01 O 0.666 O 15 O 0.333