Assuming hypothetical equilibrium in Demand/Supply Model of Apples, illustrate impact of following events: The price of petrol in the market comes down.
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Assuming hypothetical equilibrium in Demand/Supply Model of Apples, illustrate impact of following events:
The price of petrol in the market comes down.
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- Answer please Assuming hypothetical equilibrium in Demand/Supply Model of Apples, illustrate impact offollowing event:The price of petrol in the market comes down.12:39 LTE AA course.apexlearning.com Economics E Apex Learning 1 2.4.2 Test (CST): Microeconomics Question 10 of 20 The graph shows the supply and demand curves for a certain product, which has a current selling price of $300. The laws of supply and demand most support which conclusion about the product? Demand $500 Supply $400 $300 $200 $100 1,000 2,000 3,000 4,000 5,000 Quantity O A. The current selling price matches the product's equilibrium price. O B. The current selling price for the product is too high. O c. The current selling price for the product is the result of a surplus. O D. The current selling price for the product is too low. SUBMIT E PREVIOUS PriceQuestion#3Assuming hypothetical equilibrium in Demand/Supply Model of Apples, illustrate impact of following events: C) The government announces increase in Wages of workers. D) The price of petrol in the market comes down. E) Consumer income falls during government imposed Lockdowns due to health concerns.
- Consider each scenario independently. In each of the following cases tell me, usingwritten and graphical analysis (a - g). For Question 1. – 7. please see details below:Include the correct increase / decrease in the demand or supply include correct labelsinclude what will happen to the equilibrium priceinclude what will happen to the equilibrium quantityInclude a brief explanation What will happen in the market for tomatoes if a new study is released that showsthat pesticides used on tomatoes contain cancer forming agents.Market: French Fries The equilibrium price has decreased and the equilibrium quantity is the same. Graph the market and give two reasons why this has happened that fit the graph. You do not need to identify the determinants for this question.The following table shows the weekly demand and supply in the market for ice cream in Detroit. dy Tools Price Quantity Demanded Quantity Supplied (Dollars per gallon of ice cream) (Gallons of ice cream) (Gallons of ice cream) 4 2,000 200 Tips 1,600 600 12 1,200 800 Tips 16 800 1,200 20 400 1,800 כ On the following graph, plot the demand for ice cream ușing the blue point (circle symbol). Next, plot the supply of ice cream using the orange point (square symbol). Finally, use the black point (plus symbol) to indicate the equilibrium price and quantity in the market for ice cream. g Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 24 Demand 20 16 Supply 12 MacBook Air per gallon of ice cream)
- The figure depicts the market for shoes. Suppose that a less expensive material for making shoes is developed. a. What effect will this event have on supply and demand in the shoe market? Demonstrate your answer graphically. Instructions: Use the tool provided 'New line' to draw either a new demand or supply curve that reflects the market effect of this event. Plot only the endpoints of the line. Market for Shoes Tools New line Q Quantity of shoes b. If a less expensive material is developed, the (Click to select) (Click to select) v v will This will cause the equilibrium price to (Click to select) v and the equilibrium quantity to (Click to select) v Price ($)J Assignment Score: 28.7% VResources Lx Give Up? E Feedback Try Again Question 36 of 36 Ø Attempt 1 The graph describes the market for imported chocolates. Manipulate the supply or demand curve to show how an increase in the cost of sugar impacts the graph. Market for Imported Chocolates 10 9 S 8 What is the new equilibrium price and ğuantity? 7. 6 P = $6,Q = 6 P = $4, Q = 5 OP = $6,Q = 4 3 OP = $4, Q = 6 D 1 Incorrect 2 4 5 6 8 9 10 If price were not allowed to adjust to the new equilibrium price, what would occur in this market? Incorrect O surplus Qª = Q° shortage with Qª < Q° MARSuppose both the demand for olives and the supply of olives decline by equal amounts over some time period. Use graphical analysis to show the effect on equilibrium price and quantity. Instructions: On the graph below, use your mouse to click and drag the supply and demand curves as necessary. Price of olives Quantity of olives S₁ O
- Answer asap pleasee Suppose that demand and supply of apples are described by the following equations: P = 100 - 3Q (demand) P = 20 + Q (supply) a) Calculate the equilibrium quantity.QUESTION ONESuppose that a market for tomatoes is given by the following demand and supply equationsQd = 40 − 2PQs = −4 + 2PWhere Qs, Qd and P, are the quantity demanded, quantity supplied and Price for tomatoes respectively.i. Determine the equilibrium price and quantity of tomatoes.ii. On the same diagram, draw the demand and supply curve, clearly showing the intercepts, equilibrium price and equilibrium quantity.iii. Calculate the consumer surplus, producer surplus and total surplus.iv. Suppose that the government introduces a fixed tax of ZMW5 per unit of tomato.a) Calculate the new equilibrium price and quantity. b) Find the new consumer surplus, producer surplus, total surplus, and the deadweight loss?c) What is the incidence of a tax?What is market equilibrium? Explain with the help of diagram.