Over the past 30 years, technological advances have reduced the cost of computer chips. How do you think this has affected the market for computers? For computer software? For typewriters?

Q: The 5G smartphone market is expanding rapidly recently. Due to the advancement of technology, the…

A: Demand: It refers to the goods and services that are demanded by the people. More demands show more…

Q: Over the past 40 years, technological advances have reduced the cost of computer chips. Explain how…

A: Technological Advancement: The term technological advancement refers to the invention or discovery…

Q: During the 1990s, technological advance reduced the cost of computer chips. how do you think this…

A: During the 1990s, due to technological advancements, the cost of computer chips reduced, which means…

Q: Other things remaining the same, what would happen to the supply of a particular commodity if the…

A: The law of supply refers to the direct or positive relationship between the quantity supplied of a…

Q: Choose any business.  If you worked for that business, what major factors would stimulate the demand…

A: The major factors that would affect the demand or stimulate the demand are as follows: Price plays…

Q: What is the effect on the equilibrium price and quantity of orange juice of the following events if…

A: The effect on equilibrium price and quantity can be explained as :

Q: For each of the following changes in the market for apples, explain why supply will increase,…

A: It is common to understand when supply increases means firms are getting opportunities to earn more…

Q: What is a Market Equilibrium? Using the given demand and supply schedule, draw market equilibrium…

A: a.  Given  Price Quantity Demanded Quantity Supplied 10 0 40 8 10 30 6 20 20 4 30 10 2…

Q: Italians call for 1-day pasta strike In 2007, the price of durum flour rose by 20 percent. Seventy…

A: Given: The price of durum floor roses by = 20% The total percent of pasta is = 70% The Italians pay…

Q: During the 1990s,technological advances reduced the cost of computer chips. How do you thunk this…

A: The following figure illustrates the change in equilibrium due to shift in the supply curve. In the…

Q: Carefully explain what is happening in the following markets.  Indicate the impact if any on demand,…

A: (i) The supply of the airline tickets will not be in the economy due to the fact that the changes in…

Q: Carefully explain what is happening in the following markets. Indicate the impact if any on demand,…

A: In a market, related products play a crucial role in affecting the demand and supply of a specific…

Q: What happened to the equilibrium price of cars when Henry Ford began using the assembly line? A.…

A: Henry ford used assembly line technology,due to which cost was reduced and supply of henry ford cars…

Q: Explain the effects of the following statements to the equilibrium of supply and demand. Use…

A: The equilibrium in the market is determined by the market forces of supply and demand. The demand…

Q: Over the past 40 years, technological advances have reduced the cost of computer chips. Explain how…

A: The following figure illustrates the change in equilibrium due to shift in the supply curve. In the…

Q: What happens to the equilibrium price and quantity of steaks, if the price of chicken meat, a…

A: What happens to the equilibrium price and quantity of steaks, if the price of chicken meat, a…

Q: Which of the following is total supply of goods? A. Y B. C+I+G C. C+I D. G=T

A: In an economy, total supply of goods is also represented as the aggregate supply, which explains the…

Q: Which of the following will increase the supply of cellphones? (Check all that apply.) Multiple…

A: Supply curve shows different levels of quantity supplied at different price levels

Q: What happens to the supply of Smartphones as technological advancement takes place?

A: The supply depends upon the price level in the economy. When the price level is higher, the…

Q: If the Food and Drug Administration announces that eating rice contributes to diabetes and the…

A: Market demand curve for a commodity shifts as a result of a change in consumers income, their…

Q: Asap!!  Rapid economic growth in the early 2000s leads to a sharp upturn in oil prices. During the…

A: The period of slow economic growth would be depression whereas rapid economic growth would be…

Q: What is the difference between a change in demand and a change in quantity demanded? Supply and…

A: A concept that refers to the desire of a customer to buy goods and services and the willingness to…

Q: Consider market for corn. The price of soy (substitute in production for corn) increased. At the…

A: As corn is a substitute for soya when the price of soya increases then people will shift to its…

Q: Before pandemic, face masks are only used in certain hospitals handling highly contagious pulmonary…

A: Non-price determinants will affect the supply and in what way Natural  elements = Wearing face masks…

Q: For each of the following changes in the market for apples, explain why supply will increase,…

A: The total amount of a certain commodity or service available to consumers is described by supply,…

Q: Carefully explain what is happening in the following markets. Indicate the impact if any on demand,…

A: The both these products are being used as the substitutes for each other. The cost of production of…

Q: Who are on the supply side of the market?

A: In a market, the equilibrium price and equilibrium quantity of a good is determined by the market…

Q: Over the past 40 years, technological advances havereduced the cost of computer chips. How do…

A: Equilibrium is attained in the market at the point where the demand and supply intersect each other.

Q: How do you think this affected

A: Technological progress is nowadays obvious. There are many firms which produce different types of…

Q: Over the past 30 years, technological advances havereduced the cost of computer chips. How do you…

A: Substitute goods: The goods which can be used in the place of other goods or the goods whose demand…

Q: Ethanol, a fuel, is made from corn. Ethanol production increased 8.5 times from 2000 to 2015…

A: Supply is an upward sloping curve which shows the positive relationship between price and quantity…

Q: Carefully explain what is happening in the following markets. Indicate the impact if any on demand,…

A: According to the question, electricity is the major input in the production of the aluminium and…

Q: Which of the following will increase the supply of cellphones? (Check all that apply.) Multiple…

A: A change in the quantity supplied is different than a change in the supply.

Q: Show the effect of the following events on the market for chicken:  The price of chicken increases.…

A: (a)   When the price of chicken increases, the demand for chicken declines keeping other things…

Q: Producers/sellers are bound to follow law of supply? (6 lines)

A: Note- Since you have posted multiple independent questions in the same request, we will solve the…

Q: When timber mills process logs, they produce both beams and sawdust. In the market for timber beams,…

A: The concept of supply in economics is used to calculate the quantity of a good or service produced…

Q: The price of the commodity falls. What will happen to the quantity demanded and the quantity…

A: # according to the law of demand there exist a negative relationship between price and quantity…

Q: Supply as a function of the price of inputs and technology? Comment

A:

Q: With the help of a demand and supply diagram, explain how a video showing small worms in sausages…

A: Demand is defined as that amount of quantity of a good or service which is demanded by consumers at…

Q: In 2001 an outbreak of foot-and-mouth disease in Europe led to the burning of millions of cattle…

A: Supply is the amount of output that producers or sellers are willing to sell in the market at…

Q: Consider the market for minivans. Indicate the impact if any on demand, supply, price and quantity:…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub- parts for…

Q: What is the difference between demand and derived demand? What examples do you have of goods and…

A: Demand is described as the willingness and ability to purchase a commodity.

Q: If supply is diminished what happens to the price of goods? What happens to the demand for goods?…

A: