Work from home and stay home restrictions impacted the market of many household items, with discussions about toilet paper and even international news. a)what impact did covid 19 restrictions have on the market of toilet paper? explain using a supply and demand diagram. b) states enacted policies that prevent price gouging during the pandemic. explain the impact of this policy on the market
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Work from home and stay home restrictions impacted the market of many household items, with discussions about toilet paper and even international news.
a)what impact did covid 19 restrictions have on the market of toilet paper? explain using a
b) states enacted policies that prevent price gouging during the pandemic. explain the impact of this policy on the market
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- Gasoline prices have been and will continue to be a major issue for the economy. From the start of the Covid-19 pandemic up to the present day, gasoline prices have been in the news. 1. What has happened to the price of gasoline over the past 12 months? Be specific and include actual prices in your answer. 2. Discuss the recent changes in price from a supply and demand standpoint. Have the price changes been due to a change in supply, a change in demand, or both? Explain your answer. 3. What do you think has been the reason(s) for the very large increase in gasoline prices over the past several months? . 16Show in a diagram the effect on the demand curve, the supply curve, equilibrium price, and the equilibrium quantity of each of the following scenarios. The market for face masks in your country: Scenario 1: The emergence of the COVID-19 pandemic Scenario 2: An increase in the number of manufacturers of reusable masks. The Market for the iPhones: Scenario 1: A new Samsung cellphone is released at a lower cost than the iPhone. Scenario 2: There is an increase in the price of iPhone accessoriesIn April 2020, international oil prices fell down drastically, due to two major reasons, including the oil supply war going on between Saudi Arabia and Russia as well as the Covid-19-driven global crisis. Imagine a standard supply-demand model for the international price of oil. Which of the two curves (supply and/or demand) in your model need to shift in order to explain the observed drastic reduction in the oil prices due to the two above events? In which direction do they shift? The supply curve shifts to the left and the demand curve shifts to the right. The supply curve shifts to the left and the demand curve shifts to the left. The supply curve shifts to the right and the demand curve shifts to the right. The supply curve shifts to the right and the demand curve shifts to the left. Only the supply curve shifts to the right. Only the demand curve shifts to the left
- A market consists of groups of buyers and sellers of a good or service. Market equilibrium represents the price at which the quantity of goods supplied is balanced with the number of goods consumers are willing and able to buy. Consider the market for coffee: Assume first that there is a heatwave that damages a large portion of coffee beans. Describe how this would affect equilibrium in the market for coffee. Specifically, does demand or supply shift, in which direction, and what is the effect on equilibrium price and quantity? Last, extend your analysis to the long run, a period of time long enough for new coffee growers to enter the market or for existing growers to exit the market. How might equilibrium price and quantity in the market for coffee be affected when enough time is allowed for a change in the number of sellers in the market?Normally, the people of COVID-FREE LAND demand of 3000 sanitizers and 18000 toilet rolls. Suddenly, there is outbreak of covid-19 and demand for sanitizers and toilet rolls increased to 4,000 and 20,000 respectively. How could COVID-FREE land meets its new demand. Identify and comprehensively discuss at least three possibilities or ways.Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following scenarios. 1.The market for face masks in your country Scenario 1: The emergence of the COVID-19 pandemic. Scenario 2: An increase in the number of manufacturers of reusable masks. 2.The market for the iPhones Scenario 1: A new Samsung cellphone is released at a lower cost than the iPhone. Scenario 2: There is an increase in the price of iPhone accessories. 3.The market for blueberry muffins Scenario 1: More people become health conscious and realize the high sugar content of muffins. Scenario 2: The price of blueberries has increased
- The UAW strike kicked off in the middle of September 2023. As a result, potentially 146,000 auto workers who work for Ford, GM, and Stelllantis could walk off their jobs. The three companies are major producers of traditional gas cars in the U.S. In the meantime, Tesla, the major producer of electric cars, announced another round of price reductions recently for its major models. Assume that the traditional gas car and electric car are substitutes in consumption. Use the supply and demand graph to illustrate how these events would affect the market for traditional gas cars. In particular, what would happen to the equilibrium price and equilibrium quantity of traditional cars? Explain in words the changes in the supply and/or.The table below shows the quantity demanded and supplied on barley for each price per bushel. Price per Bushel Quantity Demanded per Month (million bushels) Quantity Supplied per Month (million bushels) Sate of the Market (shortage or surplus) $2.30 400 300 $2.40 370 320 $2.50 340 340 $2.60 310 360 $2.70 280 380 Based on the information above, plot a chart with supply and demand curves. What are the equilibrium price and quantity of barley? If the market price of barley is $2.70 per bushel, is there a shortage or surplus of barley? Calculate the shortage or surplus. As a result, would the market price rise or fall? If the market price of barley is $2.40 per bushel, is there a shortage or surplus of barley? Calculate the shortage or surplus. As a result, would the market price rise or fall?Normally, the people of COVID-FREE LAND demand of 3,000 sanitizers and 18,000 toilet rolls. Suddenly, there is an outbreak of COVID-19 and the demand for sanitizers and toilet rolls has increased to 4,000 and 20,000, respectively. How would COVID-FREE LAND meet its new demand. Identify and comprehensively discuss at least three possibilities or ways. State all appropriate assumptions made.
- Q55 Brazil is the largest soybean producer in the world. Covid-19 has played havoc for the global soybean market. What combination of changes in supply of soybeans and demand for soybeans in the global market would most likely increase the equilibrium quantity? Multiple Choice when supply of soybeans decreases and demand for soybeans decreases when supply of soybean increases and demand for soybeans increases when supply of soybeans decreases and demand for soybeans increases when supply of soybeans increases and demand for soybeans decreases when there is a shortage of soybeansDuring the last year while the pandemic was impacting our lives. the price of used cars has soared. Assume that the price of used cars is solely determined by supply and demand. Use supply and demand concepts to explain whether each of the following supports an increase in the price of used cars. Explain why each of these would or would not increase the price of used cars. Requesting assistance for questions 4 & 5 only. Due to supply chain issues, the supply of new cars decreased significantly Because of issues related to the pandemic, more people were unwilling to rely on public bus/trains/subways for commuting to work Due to the pandemic, people had extra money since they were not spending money on vacations, going out to eat, etc. Interest rates remained at historically low levels The amount of used cars from repossessions, from rental car companies and from cars coming off leases declined significantlySince 2010 housing market in BC is on the never ending price rise. Vancouver has faced the highest price boom ever since then and the average rental apartments in the city has risen to the unprecedented $2300.00 rent. Discuss the reasons behind the price surges considering the balance of supply and demand in the market and predict how the market will respond post Covid-19. Try to focus on the driving forces behind the rise and the other current environmental factors which will or may come to effect post Covid-19.
