Wk 2 - Apply: Market Dynamics and Efficiency [due Day 7] 6HelpSave & ExitSavedSubmlt$ PriceS$ PriceS2S27E2E1P=P2 ----------E,P=P2 F------X-D2D.polnts\DQ2QQuantityGraph (1)QuantityGraph (2)eBook$ Price$ PriceS2ReferencesP.KE,P.--XE,PD1'D-P2F-------KE2------D2Q=Q2Q=Q2QuantityQuantityGraph (4)Rectangular SnipGraph (3)Select the graph that best shows the changes In demand and supply In the beef market If a new diet fad favoring beef consumptlon becomes hugely popular, while cattle producers see steeply rising costs of cattle feed.Multiple Choicegraph (1)graph (2)graph (3)graph (4)

Here all graph are in equilibrium. The equilibrium is achieved when demand for goods and services…

Wk 2- Apply: Market Dynamics and Eficiency (due Day 71 0 Help Seve & Exit Submit Seved S Price S Price 7 PP, 5 poirts AD, Quantity Graph ( Quantity Graph (2) eBook S Price S Price References P. Pa XEa D "D, Oro, Quantity Graph (3) Quantity Graph (4) Select the graph that best shows the changes in demand and supply in the beef market if a new diet fed favornng beef consumption becomes hugely popular, while cattle producers see steeply ising costs of cattle feed. Mutipie Choice Oraph ( graph (2 graph 3) O o o

Wk 2- Apply: Market Dynamics and Eficiency (due Day 71 0 Help Seve & Exit Submit Seved S Price S Price 7 PP, 5 poirts AD, Quantity Graph ( Quantity Graph (2) eBook S Price S Price References P. Pa XEa D "D, Oro, Quantity Graph (3) Quantity Graph (4) Select the graph that best shows the changes in demand and supply in the beef market if a new diet fed favornng beef consumption becomes hugely popular, while cattle producers see steeply ising costs of cattle feed. Mutipie Choice Oraph ( graph (2 graph 3) O o o

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q1. I already provided Answered for Question A,B,C and D I need the answer for E,F and G only If you will use hand writing pls make shur it's understanable Consider an example of the vehicle tires; if the supply and demand are: Qs = - 500 + 8p ; Qd = 500 –2 p Solve: Equilibrium price and equilibrium quantity and calculate total revenue? Equilibrium price Qd = Qs 500-2P = -500+8P P = 100 Equilibrium quantity = 500-2(100) = 500-200 = 300 Tot revenue = 100*300 = 30000 If there were a price celling equal to 120 SAR per each tire imposed, calculate the price elasticity of demand? Does this consider elastic, inelastic or unit elastic? Also, calculate the total revenue? Now, with price ceiling of 120SAR, Quantity demanded= 500-2(120) = 500-240 = 260 elasticity if demand = Percentage change in quantity/ percentage change in price = 40/300*100/20 = 0.67 Total revenue = 260*120 = 31,200 Now consider the vehicle battery; if the supply and demand is:…
1. What sort of product is alcohol in economic terms if the government wants torestrict consumption of it?2. Analyze the social costs of alcohol consumption.3. Analyze the factors that would determine the impact of a price increase on theconsumption of alcohol4. Is introducing a minimum price a better way of reducing consumption than trying tochange peoples’ attitudes?
Only typed answer and please don't use chatgpt (I)Consider the market for milk in Saskatchewan. If p is the price of milk (cents per litre) and Qis the quantity of litres (in millions per month), suppose that the demand and supply curves formilk are given by: Demand: p = 225 -15QD Supply: p = 25 + 35QS a.Assuming there is no government intervention in this market, what is the equilibrium price and quantity? Equilibrium Price = $165 Quantity = 4Liters b. Now suppose the government guarantees milk producers a price of $2 per litre and promises to buy any amount of milk that the producers cannot sell. What are the quantity demanded and quantity supplied at this guaranteed price? Please answer B.
Suppose tuition fees for a university increase from £3,000 to £9,000. Afterthe increase, enrolment drops by 5%.a) Calculate the price elasticity of demand for education at this university.Explain.b) Do tuition revenues at this university increase or decrease following thetuition fee change? How is this related to the price elasticity of demand foreducation at this university? Explain.c) Focusing on welfare (private and social costs and benefits), give the maineconomic argument(s) as to whether the government should subsidizehigher education or not, and if so by how much. Provide sufficient detail for your argument(s).d) In some countries higher education is provided free of charge to allstudents. Does this make such higher education a public good? Explain.e) Explain why setting up a cartel and maintaining collusion may be difficultin general.f) Explain how a maximum tuition fee of £9000 imposed by the government may facilitate collusion between universities.
Q_{D}=400-20 P \\ Q_{S}(\text { Domestic })=30 P-30 \\ Q_{S}(\text { Imported })=10 P-50 \end{array} \] The demand and supply functions for productAare given above. a. The government imposes a price ceiling at 4 . In this case, specify the market price, quantity. In this case, is there either excess supply or excess demand? How much? b. The government imposes a price floor at 9 . In this case, specify the market price, quantity. In this case, is there either excess supply or excess demand? How much? c. The government wants to impose taxes on this product. If the tax is 3 for each sale, find the new market price and quantity. how much of this quantity is coming from imported? d. According to the policy applied in the (c), find the tax share of suppliers and consumers. e. In order to protect the domestic producer, the government imposed tax=2on the imported product. Under new policy, calculate market price and quantity. f. According to the policy applied in the (e), has the policy of the…
Continuos income streams(total value, present value,future value) Consumers surplus and producers surplus A national study of U.S. colleges results in a demand equation q=20000-2p where q is the enrollment at a public college or university and p is the average annual tuition (plus fees) it charges. Officials at ESU have developed a policy to guide the number of students it will accept at a tuition level of p dollars. It is summarized in the equation q=7,500=0.5p. find the quilibruim tuition price p. find the consumers surplus for price p. find the producers surplus for pruce p. Find the total social gain.
The equation of demand is Q=10000-5p, supply is Q=-2000+10p Q represents the quantity of houses on the market and P the rental price. The equilibriumrental price equals 800 euros per month. If the government gives people a housing allowance of 300 euros per month，What are the effects of each measure for both house owners and people renting ahouse? And what are the consequences for the government? Analyse the measuresgraphically and mathematically.
(ch3) In a small country, the demand and supply of turbo jets are represented by QD = 1,000 - P and QS = 2P - 500. Which of the following statements is (are) TRUE?I. The equilibrium price is $700.II. At a price ceiling of $200, there are 0 supplies.III. At a price ceiling of $300, there is an excess demand of 600 units.A) I and IIIB) II and III C) II D) III
Assume supply of a rice: QS = 1800 + 240P, 1981 Demand for rice: QD = 3550 - 266P.What is the market clearing price? Assume now that government wants to support a priceof $3.60/kg and thus buys the additional amount from the market. Find the change inconsumer surplus, cost to the government and gain of the producer. Instead of pricesupport if government gives a supply restriction of 1500 kg what would happen?
Demand and supply equations for housing market per month are given below.• Demand for housing: ?? = 2500 − 0.5 ?• Supply of housing: ?? = −500 + ? A) Suppose that the government set a rent ceiling at $1800. What are the quantities ofhousing supplied and demanded at this price? In this case, is there a shortage orsurplus of houses?B) How does the price ceiling affect the efficiency in the housing market?C) Calculate the deadweight loss in the housing market after the price ceiling isimposed by the government.D) Calculate the potential spending for housing search activities.
Please no written by hand solution In Example 9.1 LOADING... , we calculated the gains and losses from price controls on natural gas and found that there was a deadweight loss of $5.68 billion. This calculation was based on a price of oil of $50 per barrel and utilized the following equations: Supply: QS = 15.90 + 0.72PG + 0.05PO Demand: QD = 0.02minus 1.8PG + 0.69PO where QS and QD are the quantities supplied and demanded, each measured in trillion cubic feet (Tcf), PG is the price of natural gas in dollars per thousand cubic feet ($/mcf), and PO is the price of oil in dollars per barrel ($/b). If the price of oil were $65.00 per barrel, what would be the free-market price of gas? With a $65.00 price of oil per barrel, the free-market price of gas would be $nothing per thousand cubic foot. (Enter your response rounded to two decimal places.)
Market Equilibrium, disequilibrium, Floor and Ceiling Prices, CS, PS, DWLBased on the following functions, compute for the:Demand: P = 1200 – 4QSupply : P = 655 + 2Q Assume that the government provided subsidy amounting to P150 to consumers. 1. Draw the graph on items 2-3 2.Determine the Ps 3. Compute for the DWL(Black)