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- Why do the
prices of new houses in US go so high? Explain with help of supply anddemand graph
- What are the factors that decrease supply of houses? Draw Supply and demand graph and show what happens to the prices and quantity of houses if the prices of raw materials increase?
3. What are your suggestions to the home builders?
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- Review Figure 3.4. Suppose the price of gasoline is 1.60 per gallon. Is the quantity demanded higher or lower than at the equilibrium price of 1.40 per gallon? What about the quantity supplied? Is there a shortage or a surplus in the market? If so, how much? Figure 3.4 Demand and Supply of GasolineA recent typhoon hits the Philippines where most of the raw materials are produced. What non-price determinant/s will affect the supply and in what way? How will it affect the country’s economy?Now consider a different situation. A flood has occurred at rural areas in Bangladesh, which has caused local people to sell their livestock (i.e. chicken, duck, cow, goat) at low price in the market. Because of this event, what would happen to the market of salad items? What would happen to the market of Kachchi biryani, Morog Polaw, and chicken biryanis? Explain (in details) with relevant diagrams/graphs.
- IV. APPLICATION 2. A recent typhoon hit the Philippines where most of the raw materials are produced. What non-price determinants will affect the supply and in what way? How will it affect the country’s economy?Give eight (8) factors affecting supply? And give at least two (2) kinds of supply.What are the factors that decrease supply of houses? Draw Supply and demand graph and show what happens to the prices and quantity of houses if the prices of raw materials increase?
- (A) Given the following data on individual supply and demand, calculate the market supply and demand. (B) what is the equilibrium price? (C) supposed the current price is $4, at this price, how much of a shortage or surplus exists in gallons?c. Consider the demand for wheat illustrate the following scenario: A gluten free (wheat free) diet has become an increasingly popular fad diet. More people, now than ever, are eating a wheat - free diet. d. Consider the supply of cotton illustrate the following scenario: Government regulations cause the production of cotton to become more expensive per unit. Can you draw the graphs1. most people demand goods and services much less than they want. True or false? Explain your answer. 2. How might the price of wheat affect the supply of rice?
- How does a market reach equilibrium without any outside intervention? Explain using the supply and demand concept. Please use proper graph.Thank you sir.Which one of the following does not influence the supply of precast concrete walls?A. The demand for precast concrete walls.B. The price of precast concrete walls.C. The price of concrete.D. The wages of workers in the industry.E. The state of technologyThe table below shows the monthly demand and supply of gallons of Ghana Nuts Oil at different prices. Use the information in the table to answer the questions that follows: Price per gallon Quantity of gallons demanded Quantity of gallons Supplied 20 5000 1000 25 4000 2000 30 3000 3000 35 2000 4000 40 1000 5000 Use the information in the table to sketch the demand and supply curve on the same axis. (NOTE: Graph sheet is not needed). What is the equilibrium price and quantity? Which of the prices would cause shortages? Calculate the shortages that may occur at those prices. Suppose the Government of Ghana imposes a minimum price legislation which led to surpluses in the oil market, discuss two ways that can be use to address or mitigate the surpluses in the market. Suppose the price of Ghana Nut Oil increase from 20 to 25, calculate the price elasticity of demand and supply of Ghana Nut Oil. Demand and Supply which one is more…
