1. Given the supply and demand schedules for calculators shown below, what is the market’s equilibrium price?   Demand Schedule for Calculators   Supply Schedule for Calculators   Price ($) Quantity   Price ($) Quantity   50 0   50 16   40 4   40 12   30 8   30 8   20 12   20 6   10 16   10 3   1 20   1 0

Consider the demand for soap shown in Figure 1 above. How much soap will consumers purchase if the price of a pound of soap is $8?      A) 210 pounds       B) 248 pounds       C) 286 pounds       D) 305 pounds

A person who has an addiction for a production will most likely have * an elastic demand for that product. an inelastic demand for that product. no demand for that product. an elastic supply for that product. a side siness providing copy machine services. The equilibrium price is the * price at which the market clears average price consumers are willing to pay. O price at which all consumers are satisfied. O price at which quantity supplied is maximized. O price at which all potential suppliers will sell.

The following graph displays four demand curves (LL, MM, NN, and 00) that intersect at point A. 200 180 N. 160 M 140 E 120 t. 100 80 60 40 N. 20 20 40 60 80 100 120 140 160 180 200 QUANTITY (Units) A + PRICE (Dollars per unit)

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Unanu LavIL Price Quantity (Chocolate) Demanded $4 50 $8 44 $10 40 $12 38 $18 34 $22 20 $25 10 When the price of chocolate reduced from $10 to $8, the quantity demanded increased or decreased by ? Quantity demand decreased by 10% Quantity demand decreased by 9.09% Quantity demand increased by 9.09% Quantity demand increased by 10%

Carefully explain what is happening in the following market.  Indicate the impact if any on demand, supply, price and quality. The prices of inputs for the production of BrandX handbags have increased.  Currently taste and preferences has favoured the brand of handbag in the last 4 markets periods. Impact on demand impact on Supply impact on price impact on quantity

Only typed answer and don't use chat gpt

(Figure: Demand Curves) The figure shows four different demand curves for four products: A, B, C and D. Which of the products has the most elastic demand curve? Price Demand Price Price Price LEAR Demand Demand Demand Quantity Quantity Quantity Quantity O product C product B product D Oproduct A