Use the above diagram to explain what the possible impact of the slaughtering of chickens would be on the mar chickens in Mozambique, a) There would be a decrease in demand b) The demand curve would shift to the left. c) An excess demand would be created. d) The equilibrium price would decrease and the equilibrium quantity would increase.
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- The following table summarizes information about the market for principles of economics textbooks: What is the market equilibrium price and quantity of textbooks? To quell outrage over tuition increases, the college places a $55 limit on the price of textbooks. How many textbooks will be sold now? While the price limit is still in effect, automated publishing increases the efficiency of textbook production. Show graphically the likely effect of this innovation on the market price and quantity.In an analysis of the market for paint, an economist discovers the facts listed below. State whether each of these changes will affect supply or demand, and in what direction. There have recently been some important cost-saving inventions in the technology for making paint. Paint is lasting longer so that property owners need not repaint as often. Because of severe hailstorms, many people need to repaint now. The hailstorms damaged several factories that make paint, forcing them to close down for several months.Use the following graph of the bicycle market to answer the question below. S2 5. D, Da Quantity of Bicycles S, and D, are the original supply and demand curves. D, and D, and S, and S, are possible new demand and supply curves. Starting from the initial equilibrium (point 1), which point on the graph is most likely to be the new equilibrium after the introduction of technological improvements in bicycle production and successful publicity campaigns by the government on the virtues of bicycling to work? 2, A) 3 Price of Bicycles
- Suppose that Gilberto and Juanita are the only suppliers of collectible action figures in a particular market. The following table shows th supply schedules: Price Gilberto's Quantity Supplied Juanita's Quantity Supplied (Dollars per action figure) (Action figures) (Action figures) 2 10 4 8 18 6 12 24 8 14 28 10 16 30 On the following graph, plot Gilberto's supply of collectible action figures using the green points (triangle symbol). Next, plot Juanita's supply collectible action figures using the purple points (diamond symbol). Finally, plot the market supply of collectible action figures using the orang (square symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. 12 10 Gilberto's Supply Juanita's Supply Market Supply MacBook Pro CE (Dollars per action figure)The following graph shows the market for microwavable ramen noodles. Pramen O Price increase, quantity decreases O Price stays the same, quantity decreases Price increases, quantity changes ambiguously Supply Price increases, quantity stays the same Demand Initially, the market is in equilibrium. Then, the price of microwaves decreases. At the same time, the number of firms making ramen decreases. Which of the following is true about the new price and quantity after both shifts? QramenSuppose that Carlos and Deborah are the only suppliers of pieces of cake in some hypothetical market. Their annual supply schedules are given by the following table: Carlos's Quantity Supplied Deborah's Quantity Supplied (Pieces) ITT 20 30 35 40 PRICE (Dollars per piece) (Dollars per piece) 5 Price 0 0 1 2 3 4 5 20 On the following graph, plot Carlos's supply of pieces of cake using the green points (triangle symbol). Next, plot Deborah's supply of pieces of cake using the purple points (diamond symbol). Finally, plot the market supply of pieces of cake using the orange points (square symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. (?) 40 60 80 QUANTITY (Pieces) 100 (Pieces) 120 20 40 55 65 70 Carlos's Supply Deborah's Supply O Market Supply
- Then, looking at the data in each of the following schedules, label the corresponding schedule either “Demand Schedule" or "Supply Schedule;" Schedule 1.1: Price of Eggs (per dozen) Quantity of Eggs (dozen) $8.00 10 $5.00 8 $3.00 $2.00 4 2 $1.50 1 Schedule 1.2: Price of Eggs (per dozen) Quantity of Eggs (dozen) $8.00 1 $5.00 $3.00 4 $2.00 $1.50 8 10 Next, graphically illustrate the supply curve and demand curve for eggs, being certain that you fully label the graph; Then, briefly distinguish the difference between a movement along a curve and a shift of the curve. In doing so, be certain to list in your answer the factors shifting the demand curve as well as the factors shifting the supply curve;The demand for corn (measured in billions of bushels) is given by Con = 5 - 2Pom + 4Ppotutoes - 0.25Putter + 0.0003M. The supply of corn is given by O=9+ 5Pun - 2Puet -1.25Pybeans a. If potatoes cost $0.75 per pound, butter costs $8.00 per pound, diesel fuel costs $3.00 per gallon, soybeans cost $16.00 per bushel, and average income, M, is $40,000 per year, what is the equilibrium price of corn as determined by the demand and supply functions? Instructions: Round your answer to 1 decimal place, b. How much corn is bought and sold (equilibrium quantity? Instructions: Round your answer to 1 decimal place. Obillion bushels. c. If the price of diesel fuel increases to $4.50 per gallon, what is the new equilibrium price? Instructions: Round your answers to 2 decimal places. If the price of diesel fuel increases to $4.50 per gallon, what is the new equilibrium quantity? billion bushels,Draw a correctly labeled graph of ONLY the market demand, if Angel, Nadia, and Sally are the only consumers in the market. Price $5 $10 $15 $20 $25 Angel's Quantity Demanded 9 6 4 1 1 Sally's Quantity Demanded 7 6 4 32 2 Nadia's Quantity Demanded 10 6 3 1 0
- Suppose there are four gas stations in your town. The quantity of gas that each one is willing to supply per week at various prices is provided in the accompanying table. Determine the quantity supplied for the entire market at each price, and graph the market supply curve. Illustrate on your graph what happens to the supply curve when the price rises from $3 to $5. Price per gallon Station A Station B Station C Station D $5 8,000 5,000 6,000 9,000 $4 6,000 4,000 5,000 5,000 $3 4,000 3,000 4,000 3,000 $2 2,000 2,000 2,000 1,000 $1 0 1,000 1,000 0Suppose that there are two companies that produce mobile phones: Brand A and Brand B. Explain how each of the following events will affect the market for Brand A phones by using supply and demand diagrams (mention the changes in equilibrium price and quantity): a) Price of Brand B phones increased. b) Brand A's factory's production capacity dropped because of a shortage in raw materials supplies. c) Brand A has developed a new technology that allows to assemble the phone's components in a cheaper way.The table below shows the quantities demanded of yoghurt per week by different families at various prices. Price of Pack of Abby's Family Ronda's Family Joan's Family Mark's Family Yoghurt $3.00 15 12 14 $4.00 12 10 10 $5.00 17 19 $6.00 If these families are the only buyers in this market and the price of a pack of yoghurt is $5.00, what is the market demand? Explain your answer.