Q: Soft-drink firms produce both cola and flavored water. Which of the following events increases the…
A: Given data Increase in supply An increase in supply is defined as an increase in supply at the same…
Q: In what direction does the supply curve shift when technology is improved? Draw this curve.
A: Technology is an important determinant of supply. When technology is discovered, it reduces many of…
Q: Show the effect of the following event on the market for electric cars: A strike by aluminum workers…
A: The demand curve shows the relationship between the price of an electric car and quantity demanded…
Q: When excess demand exists for tickets to a major sporting event or a concert, profit opportunities…
A: Equilibrium in the market occurs when the quantity demand equals the quantity supplied in the…
Q: There is a market of computer i.e. there is some demand and supply of computer. Shown in a diagram…
A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…
Q: Does a change in producers’ technology lead to a movement along the supply curve or a shift in the…
A: Answer to the question is as follows :
Q: a drop in the cost of technology will cause?A a shift to the right of the supply curveB a shift to…
A: A decline in the cost of technology would decrease the total cost of production which would decrease…
Q: At the start of 2010 the UK was hit extremely As a cold weather including snow and ice. As result…
A: In economics, a supply curve is a graphic representation of the relationship between the price of a…
Q: happen if a company produce supply more than customer demand
A: When a company produce supply more than the consumer demand, then it is a situation of excess…
Q: Design Layoul determinant of supply caused the increase and decrease and show the supply curve shift…
A: Since you have requested help for question numbers 9,10 and 11, we are only posting answers for…
Q: Law of Supply Practice, Continued. 1. Circle the data sets that reflects the Law of Supply. Explain…
A: Law of supply states that when other things remain the same, increasing price leads to increases the…
Q: Which of the following does not shift the supply curve for marble rye?A) A change in the price of…
A: To determine the factor that does not shift the supply curve for Marble Rye.
Q: Make a graph to illustrate the effects of the following events on the supply curve and explain : a.…
A: Part: Baguio strawberry jams - a landslide occurs on the main roads leading out of the city: If a…
Q: What happens to the supply curve when prices of factor of production rises
A: Prices of factor of production have a huge role to play in the supply of a commodity. It affects the…
Q: 3. The price of tennis balls increases. 4. The wages of tennis racket factory workers decreases (but…
A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…
Q: Which one of the following does not influence the supply of precast concrete walls? A. The demand…
A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…
Q: c. More computers are produced and sold at the lower price than at the higher price. Does this mean…
A: It's been given that More computers are produced and sold at the lower price than at the higher…
Q: When there is an increase in supply the supply curve shifts to the ______________.
A: The market is an allocative mechanism which allocates the various goods and services by the…
Q: What happens to the supply curve when the there is advancement in technology
A: # The supply curve moves rightward when there is rise in supply and on the other hand when the…
Q: A Gremlin is a type of car. Suppose that the price of the Gremlin transmission (an input in…
A: When we are plotting a demand and supply schedule in a graph, The point of intersection between…
Q: IN ACADEMIC YEAR 2020/2021 UNIVERSITY STUDENTS MANDATES THAT ALL STUDENT MUST TAKE PRINCIPLES OF…
A: Demand for a commodity changes with change in consumer income, tastes and preferences, price of…
Q: When leather became more expensive, belt producers decre belts. When car production technology…
A: The law of supply is a central guideline of economic hypothesis which expresses that, keeping…
Q: A celebrity declares that drinking three coffees in the morning gives him the needed to do any job…
A: There are various determinants that affect the demand and supply curve of a good
Q: Define law of supply and also give four reasons for the right shift ward of supply curve
A: Supply curve is a graphical representation of the quantity of commodities or services supplied by…
Q: List the five things that are held constant along a market supply curve and identify the change in…
A: The supply curve depicts the relationship between the price and quantity of goods supplied at a…
Q: Which development would most likely cause the supply of a product to increase? O A. New technology…
A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…
Q: e graph input tool to help you answer the following questions. You will not be scored on any changes…
A: Equilibrium is achieved at the output level where Qs equals Qd.
Q: Cream Factory manufactures vanilla ice cream and chocolate ice cream. There are times when vanilla…
A: When there is a change in the price of a good, the quantity demanded of that good changes. It leads…
Q: Carefully explain what is happening in the following markets. Indicate the impact if any on demand,…
A: Substitutes-in-production refer to goods that can be produced using the same resources. The…
Q: All parts of this question pertain to the demand-supply graph below, showing the ) and supply (S)…
A: Price ceiling is the maximum price which can be charged by the firm. Or firm can not charge price…
Q: The graph shows the demand curve for smartphones and the supply curve of smartphones. Price (dollars…
A: Equilibrium price and quantity of smartphones will occur at a point where demand curve of…
Q: C. There have recently been some important cost-saving inventions in the A. Demand shifts out…
A: The supply curve shows the association between the price of commodity and quantity of the commodity…
Q: Decide if it is an increase (right shift) or a decrease (left shift) and write that next to the…
A: In a market, any change in technology will have a significant impact on the supply of output because…
Q: The following graph shows the monthly demand and supply curves in the market for calendars. Use the…
A: Equilibrium occurs when demand and supply intersect.
Q: a) Using the supply schedule given below, draw an accurately labelled supply curve. Also, comment on…
A: Law of supply refers to the direct or positive relationship between quantity supplied and prices,…
Q: Given the scarcity of semiconductors in the production of new cars, what is the effect on the supply…
A: Supply curve shows the positive relationship between the price and quantity supplied of good. It is…
Q: Consider the market for the wooden yoyo, if the price of wood increases... What's the change in…
A: Given: In the market of wooden yoyo, when the price of wood increases the changes in demand and…
Q: Supply Curve and give interpretations.
A: Supply and Supply Function : By supply it is meant that the amount of a commodity offered for sale…
Q: The following graph shows the monthly demand and supply curves in the market for calendars. Use the…
A: Equilibrium is achieved at the output level where quantity supplied equals quantity demanded.
Q: The supply of lettuce in the short run will be ________ than the supply in the long run and ________…
A: The supply is short run is less elastic as the production cannot be increased in shorter period…
Q: Carefully explain what is happening in the following markets. Indicate the impact if any on demand,…
A: University of the West Indies mandates that all students must take Principle of Economics as a core…
Q: Explain briefly what is a supply curve.
A: In a market, supply refers to the economic term used to explain the behavior of the producer who…
Q: On the next graph, show the effect of a movement along a fixed supply curve that results from an
A: As per ‘law of supply’ with the increase(↑) in price(P) of a good, the quantity(Q) supplied for that…
What happens to the supply curve when the there is advancement in technology
Step by step
Solved in 2 steps with 1 images
- Do you think the level of technology available have an impact on the supply of a product? Using examples, discuss the impact of technology on supply.How does technological advancement affect short and long demand?Remembering the learning activity in Unit 3, the Gondwanaland chairman of production reported that the gosum berry growers could meet a demand of 700 barrels of gosum berries per month at a price of $70 per barrel. Then the growers were plagued with a gosum berry bug infestation that reduced output, causing production to fall to only 600 barrels. This resulted in a price increase to $84 per barrel. The following table shows the chairman’s report: Month Monthly barrels of gosum berries demanded Price per barrel June 700 $70 July 600 $84 Using the midpoint method, show your work and calculate the price elasticity of demand for Gondwanaland gosum berries. Explain what this price elasticity of demand means? Complete the table below by calculating what the monthly total revenue is for June, what the monthly total revenue is for July, and the change in total monthly revenue for these two months. How have these numbers changed? (Enter your response…
- What happens to the supply curve when prices of factor of production risesWhat happens to the price and qty of shoes when new technology allows shoe manufacturing workers to be more productive P increases, Q decreases P increases, Q Increases P decreases, Q increases P decreases, Q decreases. The supply of lettuce in the short run will be ________ than the supply in the long run and ________ than the supply today. a. less elastic; less elastic b. more elastic; more elastic c. less elastic; more elastic d. more elastic; less elastic
- In what direction does the supply curve shift when technology is improved? Draw this curve.Let's say there is demand in a market. The unit cost of production of the good is fixed and is at level 3. If you had a technology that could reduce this cost to 1, how much would you sell the pantent of the technology you have? (Hint: How much does society spend to get the technology you have?)An airline is selling tickets for a flight from London to Frankfurt. The price of an economy class ticket three months before the flight date was £30. The price of the same ticket one day before the flight is £300. Your friend, who knows you have studied Industrial Organization, asked you to explain why there’s this difference in price.
- a drop in the cost of technology will cause?A a shift to the right of the supply curveB a shift to the left of the supply curveC a market Equilibrium between demand and supplyD a market shortageShow how could Market equilibrium be affected if the level of Technology is not used on effective way while the number of Consumers increased, ( the effect of Technology is higher than the other factor ) Enter your AnswerThe market research department of EZPub estimated that 5,000 textbooks would be purchased in Canada at a price of $100.00 each. As it turned out, the Canadian demand was 6,000. The company is in a(n) ________ condition. options: A) growth B) surplus C) shortage D) inflation E) depression
