The annual demand for imported oranges is given by the following equation: QD = 600,000 − 30,000P where P is the price per kilogram and QD is quantity of kilograms demanded per year. The supply of imported oranges is given by the equation: QS = 20,000P Calculate the following: ii. the amount of revenues collected
Q: In a local market, the aggregate demand and aggregate supply of a product is given by the following…
A: (i) Quantity demand = quantity supply with the price = $12 Quantity demand = 6360 - 400 (12) = 1560…
Q: Suppose that the price of product A increases from $10 to $19. As a result, quantity demanded for…
A: As it is not mentioned I am assuming that we have to find cross price elasticity = (dQb/dPa)x(Pa/QB)…
Q: Consider the weekly supply of gasoline in Figure 1. How much gasoline will producers wish to sell if…
A: Supply of the firm is upward sloping because when the price increase the producer is willing to…
Q: The weekly demand for Kelewele among the 2018 batch of MBA students at UPSA is Qdx = 900 – 10Px…
A: Answer - "Thank you for submitting the question but we are authorized to solve 3 sub parts only. For…
Q: A survey shows that the majority of Malaysians will drink coffee with creamer. Discuss the changes…
A: According to the law of demand, there is an inverse relationship between price and quantity…
Q: Suppose you are an analyst in the oil refinery industry and are responsible for estimating the…
A: The equilibrium quantity and price are achieved when the demand curve intersects the supply curve.…
Q: The following equations represent the demand and supply equations for widgets. QD=d-c.P Qs = -b +…
A: The demand and supply equations for widgets are as follows: Qd = d - cP Qd = -b + aP
Q: Demand and supply in a market are described by the equations
A: In its standard structure a direct demand condition is Q = a - bP. That is, amount demanded might be…
Q: Consider a market given by the following supply and demand equations MC=0+5Q WTP=98-4Q What is the…
A: Demand and supply Demand refers to the quantity of a commodity that the buyers are willing to…
Q: Which of the following will not change the equilibrium quantity and price for fast-food hamburgers?…
A: The equilibrium price and quantity exist at the level where the demand and supply are the same.
Q: What is the Quantity Demanded of coffee in this initial state? thousands of 8 oz cups What is the…
A: Below is the edited graph:
Q: Assume that the equilibrium price of French fries rises, while the equilibrium quantity falls. The…
A: The price of substitute goods determine the quantity supplied of the given good. When the price of…
Q: The weekly demand for Kelewele among the 2018 batch of MBA students at UPSA is Qdx = 900 – 10Px…
A: Given Information: Weekly demand for Kelewele: Qdx = 900 – 10Px + 0.2I + 5Py – 4Pz Weekly supply…
Q: “Decreasing the supply of crude oil raises the crude oil price. When the crude oil price goes up,…
A: In economics, the concept of demand and supply is widely used to determine the market outcome as any…
Q: Which of the following would cause an increase in demand in the market for yoga pants? The price of…
A: The demand curve for a good shows the quantity demanded of that good at various price levels. When…
Q: At a price of $4.86 per pound, the supply for cherries is 16,205 pounds, and the demand is 10,340…
A:
Q: Consider the weekly supply of gasoline in Figure 1. How much gasoline will producers wish to sell if…
A: Quantity supplied has a direct relationship between price and quantity supplied.
Q: What is the Quantity Demanded, Quantity Supplied,and Price Solution? Qd=14-2P Qs=2+4P
A: Quantity demanded refers to the total amount of service or good that the consumers demand over a…
Q: i. The price of Pepsi sets above equilibrium The price of Coke decreases ii. The price of input…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: If the current price of oil is $44 per barrel, the quantity of oil demanded is A million barrels,…
A: The market is a allocative mechanism which results in the allocation of the goods and services mong…
Q: Determine how the following affects the market for apples in the United States. While not…
A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…
Q: If the price of rice per Kg increases from Rs 200 to Rs 300, the quantity demand reduced from 10 Kg…
A: Demand is the willingness and ability of consumers for consuming and buying goods and services at…
Q: Consider the weekly supply of gasoline in Figure 1. How much gasoline will producers wish to sell if…
A: Quantity supplied has a direct relationship between price and quantity supplied.
Q: PLEASE ANSWER A The Market for Chicken Meat in Davao City a. Fill in the missing algebraic…
A: Given; Q = quantity of chicken meat in kilograms, per dayPC = price of chicken meat (in pesos per…
Q: You are able to collect the following data on the impact of a one-cent increase in gasoline prices.…
A:
Q: Which of the following will increase the supply of cellphones? (Check all that apply.) Multiple…
A: Supply curve shows different levels of quantity supplied at different price levels
Q: The weekly demand for Kelewele among the 2018 batch of MBA students at UPSA is Qdx = 900 – 10Px +…
A: [a] With price = GHc20 QSx = -260 + 10Px – 2Pi Qsx = -260 +10Px -2(20) Qsx = -300 +10Px [b]
Q: can you answer D
A:
Q: Suppose that the government has a goal to reduce the demand for cigarettes in support of a health…
A: Introduction Demand refers to the amount of a commodity that a consumer is ready to buy at different…
Q: If the price of rice per Kg increases from Rs 200 to Rs 300, the quantity demand reduced from 10 Kg…
A: Answer to the question is as follows :
Q: The following is a copy of the equations from Question 1: Supply : Q = - 30,000 + 200,000P Demand :…
A: In a market, equilibrium occurs when the demand for goods and services equals the supply of goods…
Q: c. Describe what will happen to the market and solve for the equilibrium price and quantity under…
A: The curve that depicts various quantities of goods and services that are being demanded and supplied…
Q: At a price of $4.66 per pound, the supply for cherries is 16,248 pounds, and the demand is 10,369…
A: P1=$4.66 S1=16248 pounds D1=10369 pounds P2=$4.16 S2=10643 D2=12641 We will form demand and…
Q: Based on the figure below, a decrease in the quantity of oil supplied but NOT in the supply of oil…
A: The supply curve shows the association between the price of commodity and quantity of the commodity…
Q: A change in which variable will change the market demand for a product? Question 82 options: A)…
A: Demand can change if there is a change in : 1. Price of related good and not the price of inputs or…
Q: Orange juice and apple juice are substitute goods. Assume that many acres of apple orchards are…
A: Orange juice and apple juice are substitute goods. So they must have positive cross price elaticity.…
Q: How does the government purchase of wheat impact U.S. consumer surplus in the wheat market?…
A: d) With a price of $3.50, the market is not in equilibrium. Quantity demanded and supplied are QD =…
Q: The demand for gasoline is represented by: P = -0.9 Qd + 6.1 The supply of gasoline is represented…
A: Given Demand function = P = -0.9 Qd + 6.1Demand Supply = P = 1.4Qs + 3.3 In Equilibrium quantity…
Q: Which of the following is one of the factors determining if demand for a good is price elastic or…
A: Elasticity of demand depicts how much consumer responds with the change in the price level.
Q: Given the following equations: x^2-4y+4x-4=0 and 4y+7x-56=0 where x represents the quantity in…
A: The demand curve shows the negative/inverse relationship between the prices and the quantity. This…
Q: At a unit price of $340, the quantity demanded of a certain commodity is 80 pounds. If the unit…
A:
Q: Price Quantity Demanded Quantity Supplied (Dollars per pair of shoes) (Pairs of shoes) (Pairs of…
A: The equilibrium price and quantity can be denoted by the intersection of the demand and supply…
Q: The demand curve in the market for meat is described by the equation Qd=280−70PQd=280−70P, and the…
A: Equilibrium is achieved where Qd=Qs
Q: (c) The demand for watches is given by p = 7000 -2q dollars, and the supply of watches is given by p…
A: The demand for watches is given by: p= 7000-2q The supply of watches is given by p= 0.01q2 + 2q +…
The annual demand for imported oranges is given by the following equation:
QD = 600,000 − 30,000P
where P is the price per kilogram and QD is quantity of kilograms demanded per year.
The supply of imported oranges is given by the equation:
QS = 20,000P
Calculate the following: ii. the amount of revenues collected
Step by step
Solved in 2 steps
- Unit Values of Imports of oil products $/litre (unless otherwise specified) Year Gas oil, diesel oil and naphtha 22XX 1.40 23XX 1.65 24XX 2.24 25XX 3.06 26XX 3.69 27XX 4.13 28XX 5.51 Find out the annual and overall change in price ($/litre) of gas oil, diesel oil, and naphtha and explain the trend of the price from 22XX to 28XXEgypt exports of soaps, lubricants, and waxes, to Kenya was US$22.63 Million during 2019,according to the United Nations COMTRADE database on international trade. Egypt exportsof soaps witnessed a steady decline since 2017, and there is lots of potential demand in manyother african nations for Egyptians soap.Last March 2020 the Ministry of Industry and Trade decided to exclude soap bars, shampoo,and tissue paper in the form of jumbo rolls "production requirements" from Resolution 187 of2020 to stop the export of masks and protective supplies.Minister of Trade and Industry Nevein Gamea issued two decisions to stop exporting all of thesurgical masks ("face masks") and the requirements to prevent infection and alcohol of all kindsand derivatives, for a period of 3 months starting from the date of publishing the decisions inthe Egyptian Gazette.H.E. Mrs. Gamea said that these two decisions aim to provide the needs of the Egyptian citizenwith these products, especially in light of the…Is sugar and tea Substitute goods?
- Q3. Forecast the demand for the rice for a country for the year 2019 on the basis of 7-year data given in table: Year 2012 2013 2014 2015 2016 2017 2018 Population (millions) 10 12 15 20 25 30 40 Rice consumed (million tonnes) 40 50 60 70 80 90 100What is the relationship between quantity Demanded and quantity supplied at equilibrium? What is the relationship when there is a shortage? What is the relationship when them is a surplus?The table gives the demand and supply schedules for milkshakes. What is the equilibrium price of a milkshake and the equilibrium quantity of milkshakes per day? The equilibrium quantity of milkshakes is The equilibrium price is $ a milkshake. a day. Price (dollars per milkshake) 1 23456 Quantity demanded (per day) 120 105- 90 75 60 45 Quantity supplied (per day) 30 45 60 75 90 105
- Why is it importat to determine the determinants of supply?Tornado Bulbul hits Bangladesh and affects the crops and fish hatcheries in the coastal areas.What will happen to shrimp production if the hatcheries were affected due to the tornado? Howwill it affect the equilibrium price and quantity of the local shrimp market? On the other hand, if aneighboring country, who exports crops and fishes to Bangladesh, experiences a bumper harvestand export their surplus products to us, say shrimp, what will happen to the equilibrium price andquantity of local shrimp market again in Bangladesh? Draw a diagram and explain your answer.Why has there been such a surge in the number of different products available in our economy?
- Use the diagrams below to answer the following questions: Price per gallon ($) Milk Demand in Gallons 4.00 3.50- 3.00- 2.50- 2.00- 1.50- 1.00- 0.50- 0.001 A B D 0 1 2 3 4 5 6 7 8 9 10 Quantity (gallons per month) K7 Price per gallon ($) Milk Demand in Quarts 4.00- 3.50- 3.00- 2.50- 2.00- 1.50- 1.00- 0.50- 0.001 A B -D 0 4 8 12 16 20 24 28 32 36 40 Quantity (quarts per month) N The diagram on the left depicts Marley's demand for milk in gallons. If price falls from $2.25 per gallon to $1.75 per gallon, gallons purchased would increase from 3 to 7 gallons (4 gallons) per month. The slope of this demand curve is (Enter your response rounded to three decimal places.) The diagram on the right depicts Marley's demand for milk in quarts. If there is an identical price decline, quarts purchased would increase from 12 to 28 (16 quarts) per month purchased. The slope of this demand curve is (Enter your response rounded to three decimal places.)Suppose an economic boom drives up wages forthe sales representatives who work for cell phonecompanies. Explain what will happen to thedemand and supply of phones, and predict thedirection of the change in the equilibrium priceand quantityPrice (dollars per pound) 6. 1o Quantity (millions of pounds per day) 14 The graph illustrates the market for British pounds, the currency of the United Kingdom. As the number of buyers of pounds decreases and the number of sellers of pounds increases, the equilibrium price of a pound A) will remain the same. B) will fall. C) will rie. D) might rise, fall, or remain the same but more information is needed. will rise if the magnitude of the effect on the buyers is larger than the E) magnitude of the effect on the sellers.