Bad weather damages the production of avocadoes in Ventura County. The effect on the marketplace for avocadoes will be a shift to the left of: Group of answer choices: the demand curve, as consumers try to economize because of the shortage. the supply curve an
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- When the price falls, what happens to the supply or the quantity supplied? Group of answer choices There is an increase in the supply. There is an increase in the quantity supplied. There is a decrease in the supply. There is no change in the quantity supplied or in the supply. There is a decrease in the quantity supplied.During the COVID 19 pandemic, the demand for personal protective equipment increased. What adjustments would the market make as a result that would benefit the economy? Group of answer choices The price of personal protective equipment would fall because producers could not meet the demand at lower prices. The price of personal protective equipment would rise, signaling to producers that more production was needed. The price of personal protective equipment would rise, signaling to consumers that they should purchase less personal protective equipment. The supply of personal protective equipment fell as production became more expensive.If buyers expect the price of a good will be lower in the future, then? Group of answer choices the current demand for the good decreases the market will act to buy more goods now the current supply of the good increases because fewer people buy it. the current quantity demanded increases there is no impact on the demand for the good
- TRUE OR FALSE? A market is an interaction between buyers and sellers for trade or exchange. The consumer sells and the seller buys. The increase or decrease in the entire demand is shown through a shift of the entire demand curve. This is referred to as a change in demand. The supply curve is upward sloping from left to right. The demand curve is downward sloping from left to right.A change in consumer tastes will lead to: Question 9 options: Movement ON the demand curve Movement of the demand curve Movement of the supply curve Movement ON the supply curveAlmonds are a crop that grows on trees. Farmers do not need to replant trees every year to produce a crop of almonds. It takes at least five years after planting for trees to bear fruit. Several factors such as weather, disease, and long term projections about price impact the supply of almonds available. Barley is a grass that must be planted each year to produce a crop. The growing season is short, about three to four months. Several factors influence farmers' decisions to plant barley each year, including price, weather, and disease. 1. Select each factor which helps determine the price elasticity of supply for a product. Select all the correct answers a. ease of firms to enter or exit the market b. the ability to store product c. flexibility of inputs or resources used to make a product
- In the market for personal computers, which of the following would cause a decrease in supply? Multiple Choice The price of personal computers falls. There is a decrease in price of plastic, an input into the production of personal computers. Businesses are required to pay a higher tax on production of personal computers. There is a reduction in consumer preference for personal computers.In the market for ketchup, which of the following would cause an increase in supply? Multiple Choice Businesses receive a higher subsidy on production of ketchup. There is an increase in consumer preference for ketchup. The price of ketchup increases. There is an increase in the price of tomatoes, an input into the production of ketchup.Two events occur simultaneously in the market for California wine: Event 1: The price of glass wine bottles falls because strict government regulations on anti-shatter glass containers are abolished by Congress. Event 2: The price of cheese decreases. Using demand and supply analysis predict what is likely to happen to the equilibrium price of California wine and the equilibrium quantity of California wine. Multiple Choice Demand for California wine decreases and supply of California wine decreases, and the impact of these two simultaneous events is to increase equilibrium price while the change in equilibrium quantity is indeterminate. Demand for California wine increases and supply of California wine decreases, and the impact of these two simultaneous events is to increase equilibrium price while the change in equilibrium quantity is indeterminate. Demand for California wine increases and supply of California wine Increases, and the impact of these two simultaneous events is to…
- The task I am struggling with: Determine the supply and demand function and the equilibrium point.Graph the results.Demand. If a given product is priced at $7 per unit, there is a demand for 4 units;if a given product is priced at $6 per unit, there is a demand for 8 units.Supply. If a given product is priced at $9 per unit, suppliers are willing to produce4 units; if a given product is priced at $23 per unit, suppliers are willing toproduce 12 units. Thank you very much.The price at which quantity demanded and quantity supplied of a good is equal is known as maximum price. True / FalseThe figure shows the supply and demand for online music. Suppose that an economic downturn decreases household wealth and erodes consumer confidence. Move the supply and/or demand curves to reflect the primary effect this would have on the market for online music. You can assume that online music is a normal good. Also select the end result of equilibrium price and quantity. Equilibrium price Equilibrium quantity Price ($ per track) Quantity (number of tracks) Supply Demand
