The functional relationship between freight rates and the quantity supplied by carriers represents the shipping supply curve. Explain this relationship.
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Q3. The functional relationship between freight rates and the quantity supplied by carriers
represents the shipping supply curve. Explain this relationship.
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- Assuming you are the manager of the travel department of a large corporation and your sales department has high consumption for air travel. Assume further that the president of the corporation wants you to reduce the travel expenditures in the next year. How will you curb the air travel? Using Demand and Supply Analysis, how will you predict the airfare, given the following assumptions? A number of new, small airlines have recently entered the industry and others are expected to enter next year? Broadband internet videoconferencing is becoming a popular, cost-effective alternative to business travel for many corporations? The trend is expected to accelerate next year as telecommunications firms begin cutting prices on teleconferencing rates.Discuss three factors driving the demand of shipping serviceWhat are the values of P1, P2, Q1, Q2 given two commodity demand and supply model: Q d1= 24 - 8 P1 + 2 P2 Q s1= - 6 + 12 P2 Q d2= 28 +P1 - 8 P2 Q s2 = - 6 + 2 P2
- Take as a point of departure the following initial conditions: thereexists the unstable market equilibrium at $4 price; the DD curve has coordinates (7,0) and (0,7); the SS curve has coordinates (0,-1) and (7,7). 1. Explain what changes in structural variables could lead to the larger quantities demanded and supplied while the equilibrium price stays at $4. Draw the relevant supply-demand diagram, which furnishes the coordinates of the DD and SS curves at the $4 price.?Take as a point of departure the following initial conditions: thereexists the unstable market equilibrium at $4 price; the DD curve has coordinates (7,0) and (0,7); the SS curve has coordinates (0,-1) and (7,7). 1. Explain what changes in structural variables could lead to the formation of $5 equilibrium price. Draw the relevant supply-demand diagram, which furnishes the coordinates of the DD and SS curves at the $5 price?In a particular market, demand and supply curves are defined by the following equations QD = 300 – 20P,QS = -540 + 40P, where P is the price per unit in pounds and QD and QS are the quantity demanded and quantity supplied, respectively. A) What is the equilibrium price and quantity? B) If a maximum price is fixed at £12, what quantity will be traded?
- Suppose the inverse demand curve on ore is given by P = 72 - 0.44 Q. Ore can be either mined or obtained through a recycling program. The marginal cost of mining is MC1 = 6 q1. The marginal cost of obtaining ore through recycling is MC2 = 14 + 4 q2. What percent of total demand is satisfied by recycled ore (express your answer in percentage, i.e., if the answer is 45.34% then enter 45.34)? Please answer in shortEconomics 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.Take as a point of departure the following initial conditions: thereexists the unstable market equilibrium at $4 price; the DD curve has coordinates (7,0) and (0,7); the SS curve has coordinates (0,-1) and (7,7). 1. Explain what changes in structural variables could lead to the smaller quantities demanded and supplied while the equilibrium price stays at $4. Draw the relevant supply-demand diagram, which furnishes the coordinates of the DD and SS curves, characterizedby the smaller quantities demanded and supplied at the $4 price?
- If the gasoline price remains low and the gas engine becomes more efficient for all kinds of models, what will be the possible impact on the U.S. market price of Tesla Model X? Please explain your answer in the language of economics.A firm that electroplates inexpensive jewelry produces toxic waste, some of which ends up in a nearby river because of pipe leakage. If state regulators notice the problem and order the firm to make repairs and improve its monitoring processes, the supply curve will shift from S1 to S2.What region of the graph represents the deadweight loss that is eliminated by the change? Use the area tool to outline the region.Which of the following in the market is now modeled in static and dynamic frameworks, and estimates are made for the responsiveness of price changes in the markets as they are influenced by the quality and breadth of the provider network? Group of answer choices Competition Technology Advancement Production