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- Read the scenario and determine if it will change the supply or the demand of the market listed. Will equilibrium price increase or decrease? Will equilibrium quantity increase or decrease? Market: Strawberry Pie Scenario: Shortages of workers in fields to harvest crops lead to higher prices of strawberries Supply or demand? ____ Equilibrium price? ____ Equilibrium quanity? ____I. How had the Russia-Ukraine war impacted the oil market? Draw a supply-demand graph to briefly explain your answer. Please label the vertical and horizontal axes and show whether the supply or the demand curve had shifted. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.As a result of increased tensions in the Middle East, oil production is down by 1.21 million barrels per day – a 5 percent reduction in the world's supply of crude oil. Explain the likely impact of this event on the market for gasoline and the market for small cars.The gasoline market will have: higher equilibrium prices and lower equilibrium quantity. higher equilibrium prices and higher equilibrium quantity. lower equilibrium prices and higher equilibrium quantity. lower equilibrium prices and lower equilibrium quantity. The small car market will have: higher equilibrium prices and lower equilibrium quantity. higher equilibrium prices and higher equilibrium quantity. lower equilibrium prices and lower equilibrium quantity. lower equilibrium prices and higher equilibrium quantity.
- In each of the following scenarios, the market is initially in equilibrium. Determine the impact each event would have on the given market. SELECT THE CORRECT ANSWER IN EACH SITUATION 1. New advances in recycling technology reduce the cost of producing paper made from recycled material. a. Which of the following will occur in the market for paper made from recycled material? -supply will decrease -supply will increase -demand will decrease -demand will increase b. Will the advancement in recycling technology result in a shortage or surplus of paper made from recycled material at the previous price? Will the price of paper made from recycled material rise or fall? -surplus, rise -shortage, rise -shortage, fall -surplus, fall 2. Suppose General Electric, one of the largest suppliers of light bulbs, decides to discontinue its production of light bulbs. a. Which of the following will occur in the market for light bulbs? -demand will increase -supply…Use appropriate supply and demand diagrams to analyze the effects on the market equilibrium price and quantity traded of chicken, followingAn outbreak of bird flu that leads the government to have a large proportion of the country's stock of chickens destroyed.Assume that the market is Coca-Cola. An increase in the price of Pepsi will cause which of the following to happen in the market for Coca-Cola. Question 37 options: A) increase the equilibrium price and increase the equilibrium quantity B) decrease the equilibrium price and decrease the equilibrium quantity C) decrease equilibrium price and increase the equilibrium quantity D) increase the equilibrium price and decrease the equilibrium quantity
- Identify which side of the market for new automobiles is affected (demand or supply), how is it affected (increase or decrease), what happens to equilibrium price and quantity exchanged due to each of the following changes separately. (You don’t need to draw a graph unless it really makes your life easier) d. A new technology is developed that makes car production twice as fast as it used to be. e. A flourishing economy increases consumers’ incomes. f. Producers expect car prices to rise in the near future.What are the potential effects in the market for automobiles if consumers experience a decrease in their income. a) draw a supply/demand graph of the automobile market. b)indicate starting equilibrium price and equilibrium quantity. c) analyze graphically the effect of the change given above on equilibrium price and equilibrium quantity in the automobile market.19. The point of equilibrium in the market is important because ______. a. A buyer purchases the product at equilibrium b. Price is fixed for a product at the equilibrium c. All of these. d. A seller sells the product at equilibrium
- Carefully examine the picture attached and state what is happening in the following markets and indicate if: Impact on demand? a. Excess supply b. increase towards equilibrium c. decrease equilibrium quantity d. Shift outwards/ to right e. decrease equilibrium price f. Increase equilibrium quantity g. Excess demand h. Change in quantity uncertain I. decrease towards equilibrium j. Change in price uncertain k. No impact l. Shift inwards/ to left Impact on supply? a. Excess supply b. increase towards equilibrium c. decrease equilibrium quantity d. Shift outwards/ to right e. decrease equilibrium price f. Increase equilibrium quantity g. Excess demand h. Change in quantity uncertain I. decrease towards equilibrium j. Change in price uncertain k. No impact l. Shift inwards/ to left Impact on price? a. Excess supply b. increase towards equilibrium c. decrease equilibrium quantity d. Shift outwards/ to right e. decrease equilibrium price f. Increase equilibrium quantity g. Excess…in the Fall of 2020, international demand for U.S. grains grew, pushing up the prices for grains. Indeed grain prices grew nearly 50% in the last 6 months. Your task as an analyst is to analyze the changes in the market for corn. Using a graph, depict the changes that took place in the corn market. Clearly show and explain any shifts in demand and/or supply curves. Label any shifted curves as D1 and/or S1. If the curves have not shifted, please explain why. Clearly show the new market equilibrium. Label the new equilibrium price as P1 and equilibrium quantity as Q1Fall of 2020, international demand for U.S. grains grew, pushing up the prices for grains. Indeed grain prices grew nearly 50% in the last 6 months. Your task as an analyst is to analyze the changes in the market for corn. Using a grapg, depict the changes that took place in the corn market. Clearly show and explain any shifts in demand and/or supply curves. Label any shifted curves as D1 and/or S1. If the curves have not shifted, please explain why. Clearly show the new market equilibrium if changed from your answer to Question 1. Label the new equilibrium price as P1 and equilibrium quantity as Q1.
