Task 2- Below is a hypothetical demand and supply for apartments. Answe the following questions below using as basis the schedule given: Rent/Month (Php) Number of Apts. Demanded/Month Number of Apts. Supplied/Month 120.000 200 100.000 20.000 400 80,000 40,000 600 60.000 60,000 800 40,000 80.000 1000 20.000 100.000 1200 120.000 1. Draw the demand and supply curves for apartments using the schedule above.
Q: (Advanced analysis) The equation for the supply curve in the diagram shown is approximate 30 20 + 45…
A: According to the given graph, supply curve explains that at a price of 10, quantity supplied is…
Q: Sami bought an apartment for $185,000. The price of this apartment increased by 8% the first year,…
A: Profit is the difference between total revenue and total cost. Total revenue is the revenue that is…
Q: Price and cost (dollars per burger) 5.50- 5.00- MC АТС 4.50- 4.00- 3.50- 3.00- MR 2.50- 250 50 100…
A:
Q: Optimum Combination Analysis: Compute and analyse using the six steps. 1. Given: Price of Good A .50…
A: In the question above, it is given : TU = Total Utility f= is a function of MU = Marginal Utility O…
Q: The figure depicts the market for gasoline. Suppose that consumers expect the price of gasoline to…
A: Market equilibrium refers to the situation where the demand curve intersects the supply curve.
Q: How might companies in the steel and petrol industry react to an increase in the price of bauxite?
A: d) Bauxite is used in a lot of industries like the chemical industry, refractory, abrasive, cement,…
Q: Average waiting time for ordering is 2 minutes. However, in peak - hours, the time increase up to 6…
A: arrival rate The typical number of clients/customers showing up per time span. service rate The…
Q: Describe the results shown in the following graph. 1) What does Estimated Effect mean here? 2) What…
A: Graphs: It refers to the representation or combination of variety of two or more variables. The…
Q: P in USD Quantity Demanded Quantlty Supplled 900 100 100 200 700 150 300 500 225 400 300 300 500 100…
A: The equilibrium is attained when the quantity supplied is equal to quantity demanded. Graphically,…
Q: Price & quality C B A Quantity D
A: From the above diagram, the horizontal axis is denoting the quantity while the vertical axis is…
Q: Remaining Time: 19 minutes, 36 seconds. * Question Completion Status: Exhibit 3-8 shows demand and…
A: Demand Schedule refers to the tabular representation of different quantities demanded at different…
Q: In the long-run equilibrium, what is the price? what is the output? what is the total profit?
A: Monopolistic competition is a market structure where large number of sellers exist to produce…
Q: A) Use the following data to construct the graph for the market for gasoline. Price (S) 2.50 2.75…
A: The solution to the above demand supply problem is given below
Q: COVID-19 lockdowns caused demand for gas to decrease and therefore oil prices plummeted. In…
A: Here, it is given that a decrease in demand for oil due to COVID-19 results in a fall in the price…
Q: Show the effect this hurricane on the sweat shirt
A: If a hurricane hit North Carolina and damages the crop of cotton then there will be an increase in…
Q: What is an alternative method of solving the price gouging of masks?
A: Price gouging: Cost gouging happens when a vendor builds the costs of products, administrations, or…
Q: QUESTION 7 A consumer only cares for the total number of books she reads. Books can be bought either…
A: Since, the consumer only cares about the total number of books read and not the source of the book,…
Q: Question 2 Covid-19 pandemic has affected various economic sectors around the world. Choose one…
A: COVID-19 pandemic caused massive supply and demand disruptions across all the sectors of the…
Q: Discuss how the demand and supply for a particular product/s have changed in the last 2-3 years.…
A: Movement along the existing demand curve is referred to as a change in the quantity demanded. This…
Q: Task 2 - Below is a hypothetical demand and supply for apartments. Answer the following questions…
A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…
Q: ST History Bookmarks People Tab Window Help Take a Test - Ashley Kong a…
A: The demand function expresses the units of a commodity that the buyers desire to purchase at the…
Q: Exercise 2. Graph Plotting. Plot the following data in a graph in the graphical space provided below…
A: The given information can be represented on the graph by placing price on y-axis and quantity on…
Q: 1. Plot the graph with demand and supply curves using this schedule. (Use table below)
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: e the factors that car supply will increase in future
A: List of Factors that increase the Car Supply in future
Q: Clothing to 10 5 0 ● Figure 1 Figure 1 illustra have 10 more to Select one: A. 10 more B. 5 fewer C.…
A: A production possibility curve (PPC) depicts the combination of two goods that a nation can produce…
Q: Add header Question 3 The following table represents the real prices of TXR skateboards and the…
A: In a competitive market, the equilibrium price and quantity of the good are determined by the market…
Q: (3 points) When sold for $259,000.00, Ferraris have an annual supply of 6758 vehicles and an annual…
A: The demand function shows the units of commodity that the consumers desire to purchase at the market…
Q: Despite a higher price for widgets, buyers are purchasing more units. How is this possible? Give and…
A: The quantity of things accessible is noted as provided. The amount of persons who expect sure things…
Q: 10. Market: Cheese this month Increase or Decrease: Scenario: Prices are expected to fall next…
A: Demand theory: The demand theory states that when the price of the commodity increases in the…
Q: Consider two types of cars: 1) Performance cars, which emphasize good performance (good mileage,…
A: Demand curve shows an inverse relationship between price and quantity demanded. It has a negative…
Q: that produces the following goods and services. [Jadual 1 menunjukkan beberapa data harga dan…
A: Nominal GDP measures the market value of goods and services using current level of prices.
Q: PPLY FOR RICE rice D O Quantity Supplied (Qs) 200 100 tion if price per sack of rice is at P 3,000?…
A: *Answer: a) Supply Function shows the relationship between the quantity supplied and the price of…
Q: B- If the relationship between supply and demand for a given commodity is linear such that…
A: The demand for a good shows the quantity demanded of a good with different levels of prices. The…
Q: e table below describe the goods and quantities included in your current pose you have been able to…
A: *Answer:
Q: Suppose consumers believe that prices will be rising in the future. How will that affect demand for…
A: When there is a change in price of a good, it causes the quantity demanded of that good to change.…
Q: on decreases due to unknown goat diseases. What would happen to the market of salad items?
A: The buyers would tend to demand less of an economic good at higher levels of price as per the law of…
Q: what makes a product premium????
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Given: Qd =– 9P + 2,557 Qs = P – 75
A: Equilibrium is defined as a position where the economy reaches a stable state. The forces of demand…
Q: Suppose oil prices rise sharply for years as a result of a war in the Persian gulf region. What…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Task 2 - Below is a hypothetical demand and supply for apartments. Answer the following questions…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: 4. Explain each key ingredients. (ii) There should be willingness to buy the product.
A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…
Q: Tea = -0.7*Price of Tea + 0.8*Income + 1.0* Price of Cofee how does this equation show consumer…
A: The equation Tea = -0.7*Price of Tea + 0.8*Income + 1.0*Price of Coffee, shows the behavior of…
Q: #3= In her first month of business, Yaseen sells out of her kits in 3 days. In her second month of…
A: We are going to use provided information in the question. g(x) is the price decided by Yasin for a…
Q: The price of the commodity is P4/unit. Complete the table below Note: The table has already been…
A: Answer 4. The graph below shows all the curves as follows :
Q: Insert Draw Design Layout Directions: Write below whether each factor will increase or decrease…
A: Causes of shift in supply:- 1) Technological advancement:- Technological advancement will increase…
Q: The table below details Student A's monthly purchases during 2019 and 2020. Answer the following…
A: The CPI measures price changes considering a basket of goods over different time periods.
Q: Q2: suppose the demand and supply equation for eggs in market is: Qd= 100-2p; Qs- 10+40p i. Complete…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
answer #1 only :))
Step by step
Solved in 2 steps with 1 images
- Demand and supply in a market are described by the equation: Qd=66-3P Qs=-4+2P Solvealgebraically to find equilibrium price and quantity.Systems applicationSolve and analyze the following problems. Make sure all the steps are properly justified. Correctly use mathematical notation or terminology. Interpret the solution in the context of the problem.Suppose the supply and demand equations for printed shirts for a graduating class are given byp = 0.7q + 3p = -1.7q +15where p is the price in dollars and q is the quantity in hundreds.Determine supply and demand if the shirts cost $ 9.00. Analyze and discuss the stability of the shirt market at this price level. Prepare the graph of the two equations in the same coordinate system and identify the equilibrium point, the supply curve, and the demand curve.Solve and analyze the following problems. Make sure all steps are properly justified. Correctly uses mathematical notation or terminology. Interpret the solution in the context of the problem. Suppose the supply and demand equations for a logo sweatshirt in a particular week are given by the following equations:p = 0.20q + 25 (supply)p = 55 - 0.10q (demand)Find the equilibrium price and quantity. Prepare a graph of both equations and determine what each region means.
- Term used to describe demand that can be accuratelycalculated to meet the need of a production schedule,for example.Day one 2017 trading pushed natural gas prices lower to about $3.30 per million BTUs. In spite of this move many analysts remain bullish due to longer range supply and demand factors. On the demand side, natural gas surpassed coal as the number one fuel for power plants. As a result U.S. exports are soaring, erasing stockpiles created due to the shale fracking boom. A cold winter will push demand even higher but prices fell during the first day of the year due to a new forecast of a milder winter season. On the supply side, many shale drillers ceased operations when prices plummeted. The drilling rig count last August was the lowest it has been since 1987. While a few rigs have been placed back in service it will likely not pick up much until gas prices make a substantial gain. The current price does not provide much incentive to increase production. A reduction in natural gas stockpiles signals production should: A.decrease. B.increase. C.remain the same.…Yousuf is going to market on 8.4.2021 with 10 OMR and he purchases 5 kilograms of the product which is 2 OMR per kilogram. When he went the next day with 20 OMR the price did not change and he purchased 10 kilograms of the product. The change in demand here discussed here is ________. a. Downward movement of supplier on the supply curve b. Upward movement of the supplier on the supply curve c. Rightward shift of the consumer on the demand curve d. Leftward shift of the consumer on the demand curve
- he price of bauxiteincreased to its highest level due to conditions which impacted supply. Historically, bauxite has traded at between 1500 and 1600 USD per tonne. But the price increased to over 1900USD in November 2020. Growing demand in Canada for bauxite to be turned into aluminium, coupled with a sharp fall in Jamaican production have both been factors in the price increase. Bauxite production in Jamaica for 2017-18 fell 65% year-on-year due to flood conditions causing damages as well as increased competition. The London Metal Exchange predicts that global consumption of bauxite is likely to be greater than production by 20 million tonnes next year. In the US, companies in the steel and petrol industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of bauxite. Commentators predict that most steel and petrol producers will be unaffected because bauxite is such a small part of their spending. d. How might companies in the…The fear of nationwide lock downs due to current covid 19 pandemic has pushed many consumers into panic buying critically evaluate this statement and use demand and supply analysis to analyze the possible impact of panic buying on market prices4. The table below is extracted from Goodland Republic Bureau of Statistics records for 2016-2017. Use the information to answer the questions that follow. Goodland Economy 2013 and 2018 I tem Price 2017 (Base year) Price 2018 Price per Price per Production Unit ($) Production Unit (S) 50,000 1.50 55,000 2.00 100.000 2.00 98000 250 50,000 23,000.00 45,000 2,450.00 120.000 100.00 110,000 120.00 5.000 5,000.00 6,000 7,000.00 Rice (tons) Wheat (tons) Tractors mid-size (units) Cotton (tons) Used cars Manufacture garments (tons) Eggs (Trays) Coca Cola (litres) Pepsi Cola (litres) Beef (tons) Second hand cloths (tons) Alcoholic Beverages (litres) Milk (litres) 150,000 2.000 6,000 700 5,000 500 500 7000 50.00 2.50 0.80 1.10 6.50 15.00 3.25 230 145,000 2,300 6.500 850 4.800 450 600 7.500 70.00 3.50 1.20 1.50 8.50 25.00 3.75 2.50 Examine the status of the economic welfare in Goodland Republic in 2018 based on your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is…
- Answer the question(s) or solve the problem(s) below. Show your work if it involvescalculation or graphing and submit it for grading as required.1. If the absolute price of good X is $10 and the absolute price of good Y is $14,then what is ---------------------? (a) the relative price of good X in terms of good Y? (b) the relative price of good Y in terms of good X?Explain the following demand determinants: (1) Income (2) Price of related goods and services (3) Taste or preferences of consumers (4) Size of Population (5) Expected Price of the Product in the future periodsNote: this is an economics question. *Was the shortage of hand sanitizer, masks and disinfectant products during the covid-19 pandemic due to supply or demand? *Explain.