The price of a gallon of gasoline has been rising in the last few weeks. Using the model of supply and demand, explain how this could happen

Q: Explain the factors that could shift the demand curve and the supply curve

A: The demand (dd) for a commodity shows the quantity that the consumers desire to purchase at the…

Q: (Supply) What is the law of supply? Give an example of how you have observed the law of supply at…

A: In economics, the idea of supply is complicated, with several mathematical formulas, practical…

Q: In each problem, you must explain the scenario’s effect on the market. If the quantity supplied or…

A: When soldiers demand more housing, the demand for housing increases. Quantity demanded, quantity…

Q: what happens when demand increases and what effect it has of supply

A: Demand and supply are the two marker forces that regulate the free market. Demand is the ability and…

Q: Give an example of the price of a good changing.  Explain what determinant of supply or demand you…

A: The price of a goods changes due to the change in the factors affecting demand as well as supply.…

Q: If the price of croissants increased, the supply curve for bread would shift to the ________, the…

A: Croissant is a type of bread. A rise in the price of a croissant leads to a rise in the supply of…

Q: A prolific artist, Pablo Picasso (1881-1973) painted 1,000 paintings during what is known as his…

A: Law of supply states that there is positive relationship between price and quantity supplied keeping…

Q: What are the supply schedule and the supply curve, and how are they related? Why does the supply…

A: Supply Schedule is a tabulated representation of prices and quantity supplied by the individual firm…

Q: California is a large producer of strawberries. Oh No!  There is a killer frost that kills half of…

A: When there is a frost in Switzerland, it killed half of the crops and as result, the supply of…

Q: What is Supply in the context of the Law of Supply? What does the Law of Supply tell us

A: Meaning of Supply: The term supply refers to the situation under which a seller produces a product…

Q: Carefully explain what is happening in the following markets. Indicate the impact if any on demand,…

A: In a market, a producer generally keeps some amount of a product as stock when there is an uncertain…

Q: Explain in your own words the Law of Demand and the Law of Supply. What is the relationship of the…

A: A consumer's desire to buy goods and services, as well as their readiness to pay a price for such…

Q: Decide if the factors in the table will cause which of the following movements to happen in the…

A: NOTE:  Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: Refer to the diagram above. What will happen at the market if supply decreases?

A: In the graph, it is clear that the demand curve is inelastic. So the supply and total revenue will…

Q: In December, the price of Christmas trees rises, and the quantity of trees sold rises. Is this a…

A: Demand refers to the want of an individual when he/she have the ability to pay and is willing to pay…

Q: Carefully explain what is happening in the following markets.  Indicate the impact if any on demand,…

A: Two goods are considered substitutes-in-production for each other if they are produced using the…

Q: The computer market in recent years has seen many more computers sell at much lower prices. What…

A: The outcome is that many computers have been sold at lower prices. To show this outcome,2 shifts of…

Q: What are five things that will shift a supply curve to the right?

A: Five things that will shift a supply curve to the right are as follows 1.Increase in technology…

Q: In 2008, the price of corn increased by 35 percent and some cotton farmers in Texas stopped growing…

A: Law of supply states a positive relation between price and quantity supplied.

Q: The market for tomatoes is in equilibrium. This week scientists developed a new type of technology…

A: The markets are the place where the buyers of the goods, and services interact with the suppliers of…

Q: What is the law of supply? How many of the following "goods" do you think conform to the general law…

A: Hi! Thank you for the question but as per the guidelines, we only answer the first three sub-parts…

Q: Give an example of the price of a good changing. Explain what determinant of supply or demand you…

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: A wildfire burns most of the production of almonds in California. Explain in words and show on a…

A: Law of demand states that other things being constant, with the increase in the price of good or…

Q: Look at the graph. A bookstore owner increases the price of art books to $25. Which of these would…

A: A surplus will occur, because the price is higher than equilibrium price.

Q: According to the Law of Supply, when the price of a good increases, its quantity supplied increases.…

A: In any market, equilibrium corresponds to demand being equal to supply.

Q: How would you explain the law of supply and demand in simple terms?

A: Law of supply and law of demand are two fundamental concepts in economics.

Q: Explain the difference between a movement along demand and supply curves and a shift of demand and…

A: The demand curve represents the level of quantity demand at different price levels. The supply curve…

Q: Which of the following will decrease the supply of goods?

A: Supplier of goods usually decreases due to increase in  cost of production.

Q: When does a movement along the supply curve occur, and when does the supply curve shift?   If the…

A: The movement along the supply curve occurs when there is change in the price of a particular…

Q: The price of strawberries has risen by 50% in the last month. Using a supply/demand graph and the…

A: Given the increase in the price of strawberries = 50% Below is the graph that shows the equilibrium…

Q: Carefully explain what is happening in the following markets. Indicate the impact if any on the…

A: Impact on Demand 1) Increase   ( Lemonade and popcorn are complements. Complements have negative…

Q: How does the Law of Supply differ from the Law of Demand?

A: Law of demand states that when other things remain the same, increasing price of goods and services…

Q: Graphically show how each of the following affects the supply curve. Also explain which factor of…

A: Substitute goods are those goods which can be used in the place of one another or can be used for…

Q: Suppose a market is initially in equilibrium. Then a change occurs and the equilibrium price…

A: The markets are operated by the buyers, and sellers in the market, where both the buyers, and…

Q: Use the supply and demand model to predict how each of the following events would affect the auto…

A: Demand and supply intersect each other and reaches at the point of equilibrium which determines the…

Q: Use the theory of the market (i.e. demand and supply) to explain what is happening in each of the…

A: Market demand for a commodity shifts as a result of a change in consumers income, their tastes and…

Q: In 2005 Earthquake has devastating effects on the economy. A lot of factories gets destroyed, many…

A: Destruction of factories decreases production, lowering market supply. At the same time, people…

Q: What is law of demand and law of supply

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: Graphically show how each of the following shifts the supply curve. Also identify which factor of…

A: The supply curve shows the association between the price of commodity and quantity of the commodity…

Q: The law of supply states that there is a positive relationship between the price of a good and the…

A: The law of supply states that quantity supplied of a good is positively related with the price of…

Q: Does the change affect supply? If so, does supply increase or decrease?

A: Supply refers to the total units of output a producer is willing to sell at the existing price…

Q: Answer the attached question

A: The rightward shift of the supply curve is easier to explain the results of this supply curve.…

Q: What components will cause a Shift in the Supply curve? What happens if a market is out of…

A: A supply curve is a graphical representation of the relationship between the price and quantity…

Q: In December, the price of Christmas trees rises and the number of trees sold also rises. Is this a…

A: Law of demand states that there exists an inverse relationship between price and quantity demanded,…