The equilibrium price and quantity of Frisbees.

Question

Determine how the following affects the market for apples in the United States. While not required, you may wish to draw the supply and demand diagram for apples to assist in determining the impact on quantity and price. A new study shows significant health benefits from eating apples. Select one: a.Quantity increases and price increases b.Quantity increases and price decreases c.Quantity decreases and price increases d.Quantity decreases and price decreases Trade barriers restricting apples imports from Canada are eliminated. Select one: a.Quantity increases and price increases b.Quantity increases and price decreases c.Quantity decreases and price increases d.Quantity decreases and price decreases Genetically modified apples trees that allow for much greater output per tree without greater costs are introduced into the market. Select one: a.Quantity increases and price increases b.Quantity increases and price decreases c.Quantity decreases and price increases d.Quantity…

Answer 1

Question

Chapter 6, Problem 3PA

Subpart (a):

To determine

The equilibrium price and quantity of Frisbees.

Subpart (b):

To determine

The quantity of Frisbees sold.

Subpart (c):

To determine

The quantity of Frisbees sold at new market price.

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Determine how the following affects the market for apples in the United States. While not required, you may wish to draw the supply and demand diagram for apples to assist in determining the impact on quantity and price. A new study shows significant health benefits from eating apples. Select one: a.Quantity increases and price increases b.Quantity increases and price decreases c.Quantity decreases and price increases d.Quantity decreases and price decreases Trade barriers restricting apples imports from Canada are eliminated. Select one: a.Quantity increases and price increases b.Quantity increases and price decreases c.Quantity decreases and price increases d.Quantity decreases and price decreases Genetically modified apples trees that allow for much greater output per tree without greater costs are introduced into the market. Select one: a.Quantity increases and price increases b.Quantity increases and price decreases c.Quantity decreases and price increases d.Quantity…

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