What are four non-price determinants of demand that are assumed constant, and that when changed, cause a shift in the demand curve OA. Number of buyers, Tastes & Preferences, Income, Price of Related Goods O B. Number of Sellers, Technology, Taxes & Subsidies, Consumer Confidence OC. Technology, Taxes & Subsidies, Price of Alternative of Production O D. Business Taxes, Expected Rate of Return, Real Interest Rates, Stock of Capital Goods
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- Suppose that the price of scones = $3, coffee costs $2.5 per cup, and average annual disposable income for students is $15,000. Calculate the demand curve ( NOTE– be certain to enter income appropriately – how is income denominated? What happens to the predicted number of bagels sold per day if the price of bagels is increased from $1 to $2? Is this a change in demand or a change in quantity demanded? Initial Quantity: __________________________________ Terminal Quantity __________________________________ Change in Demand or Change in Quantity Demanded (Choose One) Holding the price of bagels again at $1, what happens to the predicted number of bagels sold per day if the price of coffee increases from $2.5 to $5 per cup. Is this a change in demand or a change in quantity demanded? = -20P + 10Ps - 20Pc +10I Initial Quantity: _____________________________________ Terminal Quantity _____________________________________ Change in Demand…Need solution!! ASAP PLEASE TYSM 1. Given the hypothetical demand of product (y) in a known market are Demand (D1) = 500, 400, 100, 200, and 300. Construct the demand curve and shift in the demand curve if prices in peso will start from 100php with an interval of 100php each. 2. Where is the shift if Demand (D2) will increase to 100? Show it graphically. 3. How will you explain the graph? 4. Use pen and graphing paper or Microsoft Excel to plot. 5. Please consider the law of demand in crafting the demand schedule.7. Two commodities "x" and "y" are related with the following demand equationQdx = 80 - Px + Py, compute the Qdx if the price of "x" is 15 pesos and the price of "y" is15 pesos. Again. The Qdx is in terms of kg. Note: # 7 to #12 are interrelated OA. 70 kg OB. 75 kg O C. 80 kg O D. -70 kg O E. None of the above
- A - What is the shape of the demand curve if its elasticity is infinite?A) Parallel to the quantity axis B) Line exiting the originC) Isosceles hyperbola D) Parallel to the price axis E) Bell curveB - : What is the elasticity of a linear demand curve drawn parallel to the quantity axis?A) 2 B) infinite C) -1 D) 1 E) 0 C - : If aggregate demand increases in an economy while aggregate demand is constant in the short run, which of the following statements is correct for the new equilibrium point?A) price decreases national income increases B) price increases national income increasesC) price increases and national income does not changeD) price goes up and national income goes downE) price decreases and national income decreases.Hello I need help with that question plz and thanks Suppose that you won the lottery and received $50 million cash after all taxes were paid. 1. Would your preferences change as a result of this fortunate event? Why or why not? 2. Now that money is largely not a constraint to you achieving your dreams, what constraints would you still face? 3. With regard to price elasticity of demand, would this increase in wealth change the elasticity for goods you consume on a regular basis? Why or why not?Each of the following is a determinant of demand except O a. lastes. O b. expectations. Oc production technology. O d. the prices of related goods. 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.
- true or false with reasoning. 1) ______In general, the larger the proportion of consumer’s income spent on a product, the smaller is price elasticity of demand 2) -----if a supply curve is linear and it intersects the price axis, the curve is elastic. Support your answer mathematically. Hint: write an equation of a supply curve that intersects the price axis in the general form and go from there. 3) ______Restaurants might offer a free drink with a purchase an appetizer because of the relatively low elasticity of demand in their industry.1. Discuss the reasons managers should be knowledgeable with the concept of equilibrium price and equilibrium quantity of products and services.2. Explain the concept of equilibrium price and quantity and how it is attained. How easy is the re-attainment of equilibrium once we move away from it?3. Describe, by also using appropriate diagram(s), the following: a) A change in consumers' tastes and b) A change in the price of a good.4. Assume that the quantity supplied of wheat is less than its quantity demanded. Will a similar situation impact the market price for wheat? How can such a market condition be resolved?5. Identify substitute and complement products for an i-phone? Will an increase in price of an i-phone's substitute product impact the demand for i-phones?ADVANCED 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.
- ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation P=90−2Qd.P=90−2Qd.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 = unitsGiven the following situations, determine the effect on Qd or D or Qs or S for electric cars. Write ↑ Qd, ↓ Qd, ↑ D, ↓ D, ↑ Qs, ↓ Qs, ↑ S, ↓ S or no effect. For each answer, graphically illustrate using the corresponding demand curve or supply curve. Show graphical table (Use digital graphical calculator or microsoft word). Label properly: 1.There is a sustained steady decline in petroleum prices.2.Increase in the cost of manufacturing batteries due to raw material price fluctuations.3.Higher than expected maintenance costs for this type of cars compared to traditional combustion engine cars.4.Difficulty recruiting skilled workers specializing in this production.5.Advancements in battery technology significantly increases the range of electric cars.6.Cybersecurity threats in the software system in the production lines.7.Improved efficiency in the supply chain for the essential electric vehicle components.9. Increasing trend in the price of electric cars.Suppose that a drug that was illegal has been made legal. It is observed that the total expenditure on this drug falls with legalisation. While non-economists might explain this in terms of a change inconsumer tastes, as economists we can explain this while sticking with the assumption that consumer tastes have not changed. Draw a demand and supply diagram showing the case where total expenditureclearly and unambiguously falls (with no shift in the demand curve) and provide a written explanation. ( maximum word limit: 100 words)