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- Excess supply of a product will cause the price to As a consequence Market for pizza of the price change, the quantity demanded will quantity 14.00- 13.00- 12.00- 11.00- supplied will increase decrease At the current market price PMatet of $9.00, there i of thousand pizzas per month (Enter your response as a positive integer.) 10.00- 9.00- PMarket a 8.00- * 700- 8 6.00- E 500- 4.00- 3.00- 2.00- 1.00- 40 22 510 15 20 25 30 35 40 45 so 55 60 Thousands of pizzas per month 0.00-Supply and Demand The table below gives thequantity of graphing calculators demanded and thequantity supplied for selected prices.a. Find the linear equation that gives the price as afunction of the quantity demanded.b. Find the linear equation that gives the price as afunction of the quantity supplied.c. Use these equations to find the market equilibriumprice.Which of the following would cause a decrease in current, overall demand for a product? Select an Answer O A. a decrease in price of a substitute good O B. an increase in the number of buyers in the market for the good O C. a government subsidy encouraging consumption of the good O D. an expectation that the price of the good will be higher next week
- If a new breakthrough in manufacturing technologyreduces the cost of producing Blu-rayplayers by half, what will happen to the eachof the following?a. Supply of Blue-ray players.b. Demand for Blu-ray players.c. Equilibrium price and quantity of Blu-rayplayers.d. Demand for Blu-rays.When supply increases, the effect is a large decrease in price and a small increase in quantity demanded, consumers are responsive to the change in price O consumers are not responsive to the change in price O producers are not responsive to the change in price O producers will increase price.The price elasticity of demand for good x shows how: A A change in price of good x affects the quantity demanded of good x. В A change in price of good x affects the income of consumers. A change in income affects the quantity demanded of good x. D A change in price of good x affects the profit for a firm.
- Product T and Product Y are substitutes. If the price Y decreased a. Price of T increases b. Demand of T increases c. Demand of Y decreases d. Price of T decreases When the maker lemon D increased its price from P150.00 to P170.00 per bottle, the result is a. A decrease quantity demanded for lemon D b. A decrease in quantity supplied for lemon D c. An increase in quantity demanded for lemon D d. A constant quantity demanded for lemon DCondider the market for grapes.an increase in the wage paid to grapes picker will causea.demand curve for grapes to shift to the right,resulting in a high equilibrium price for grapes and a reduction in the quantity consumed.b.demand curve for grapes to shift to the left,resulting in a lower equilibrium price for grapes and a increase in the quantity consumed.c.demand curve for grapes to shift to the left,resulting in a lower equilibrium price for grapes and a decrease in the quantity consumed.d.demand curve for grapes to shift to the left,resulting in a higher equilibrium price for grapes and a increase in the quantity consumed.In 2018, a cold front in Barbados increased both the demand for water heaters andgasolines. The usage of gasoline was 581 tonnes, an increase from 499 tonnes in theprevious year. The Petroleum Company of Barbados advised Government officials thatdemand could outweigh supply and asked companies to increase the supply. They alsoasked major gasoline users, such as power plants, to reduce demand. iv. Discuss one factor EACH that you think influence demand and supply for waterheaters. Provide examples v. Is demand for gas is price elastic or price inelastic? Explain your reasoning
- K Farmers can raise either goats or ostriches on their land. Which of the following would cause the supply of goats to decrease? OA. an increase in the price of ostriches OB. an increase in the demand for goats OC. a decrease in the price of goats O D. an increase in the price of ostrich feedIf price will change, holding other factors constant, the following will happen in the market for a consumerSingle choice. a. There will be a change in quantity demanded. b. There will be a change in quantity supplied. c. There will be a change in demand. d. There will be a change in supply.What will happen in the market for brewed coffee if the price of coffee beansincreases?