When a market is in equilibrium, the buyers are those with the __________ willingness to pay and the sellers are those with the __________ costs. a. highest, highest b. highest, lowest c. lowest, highest d. lowest, lowest
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When a market is in equilibrium, the buyers are those with the __________ willingness to pay and the sellers are those with the __________ costs. a. highest, highest b. highest, lowest c. lowest, highest d. lowest, lowest
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- When the market is in equilibrium, the buyers are those with the ________ willingness to pay and the sellers are those with the _______ costs Question 9 options: lowest, lowest highest, highest lowest, highest highest, lowestWhen a market is in equilibrium, the buyers arethose with the _________ willingness to pay and thesellers are those with the _________ costs.a. highest; highestb. highest; lowestc. lowest; highestd. lowest; lowest#6. The market equilibrium occurs where price is __________ and quantity is _________. a. $4; 2 b. $8; 4 c. $10; 3 d. $10; 5 e. $12; 6
- 8) If the cost of producing Good A falls, this will cause A) an increase in the market price of Good A. B) a shift in the demand for Good A. C) a shift in the supply of Good A. D) none of the aboveProducer surplus of the rice market Explain the diagram in the image, Please answer max in 30-45 minutes about microeconomics thank u and no rejectHow does a market reach equilibrium without any outside intervention? Explain using the supply and demand concept. Please use proper graph.Thank you sir.
- Equilibrium in the market is achieved when * A. there is the same number of buyers and sellers. B.there is no shortage or surplus of products. C. every buyer buys a product from the seller. D. buyers and sellers agree on the same price.a) Where does equilibrium occur in the market diagram? b) Describe what would happen in the market if price is incorrectly set above the equilibrium price. c) Describe what would happen in the market if price is incorrectly set below the equilibrium price.True or False: As the price of apples rises, the demand for apples falls, ceteris paribus.
- Discuss it in your own understanding and then give example each of the following: Consumer and Producer goods Demands Law of demand Utility and Demanda) In the market for sugary drinks, the current equilibrium price is $10 and the equilibrium quantity is 30. The demand choke price is $50 and the supply choke price is $5 (a) Draw a demand and supply diagram, and shade the regions that represent consumer and producer welfare. Calculate the Total welfare in this market b) In this market, you now know that E D = −0.4 and E S = 1.2. Redraw your diagram in part (a) with the correct sloping curves. In this part you do not have to shade the welfare regions. All you need to do is redraw the diagram with the same equilibrium price and quantity, and choke prices but adjust the slope of each curve to reflect their respective elasticity c) If a tax was to be implemented in this market, what percentage of the burden is borne by the buyer? d) The government plans to discourage the consumption of sugary drinks and as such, they implemented a $1 tax on every bottle produced. In this situation, the suppliers are taxed directly but they hope to pass…1. market equilibrium and disequilibrium take an example 2. changes in equilibrium take an example