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- C- If the consumer income increases by 20%, what will happen to the equilibrium price and guantity.I think (d) equilibrium quantity of blue jeans decreases is right?draw an ADAS graph at equilibrium. Suppose there is widespread concern that prices will continue to rise in the future. Which curve will shift? draw the new equilibrium. Don't answer by pen paper and don't use AI bot others
- The market for digital watches is at its market equilibrium. Now the cost of producing a digital watch rises, and at the same time, the price is expected to fall next month. What is the effect on the equilibrium price and equilibrium quantity this month? This month, the equilibrium price of a digital watch ________ and the equilibrium quantity of digital watches ________. A. will rise; will decrease B. might rise, fall, or not change; will decrease C. will rise; might increase, decrease, or not change D. will fall; will increaseb. The equilibrium price of printers saw a large decrease in the past year, howeverthe equilibrium quantity remained unchanged. Three individuals provided anexplanation for the situation. Which explanation(s) could be correct? Explain.• Alex: Demand increased, but supply was totally inelastic.• Lance: Supply increased, but so did demand.• Ricardo: Supply decreased, but demand was totally inelasticSuppose that apples are a normal good. Suppose further that national income is increasing while, at the same time, the price of fertilizer, an input in the production of apples, decreases. Everything else held constant, the equilibrium price of apples will_______and the equilibrium quantity of apples transacted will Select one: OA. increase; decrease OB. increase; be ambiguous OC. decrease; be ambiguous OD. be ambiguous; increase OE. decrease; decrease OF. be ambiguous; decrease OG. decrease; increase OH. increase; increase OL be ambiguous; be ambiguous
- Price AS Level 100 105 103 AD Real GDP 10t 20t 30t Considering the figure above, at what point does the equilibrium occur? Select one: a. The equilibrium point occurs at a price level of 105 and an output level of 20t. b. The equilibrium point occurs at a price level of 20t and an output level of 105. c. The equilibrium point occurs at a price level of 103 and an output level of 30t. d. The equilibrium point occurs at a price level of 30t and an output level of 105.If demand and supply change in the same direction, we _____ the direction of change of the equilibrium quantity and we _____ the direction of change of the equilibrium price. A. cannot predict; cannot predict B. cannot predict; can predict C. can predict; cannot predict D. can predict; can predictEquilibrium quantity will always inerease if: supply and demand both increase. supply increases and demand decreases. supply and demand both decrease. supply decreases and demand remains unchanged.
- A product's price and the quantity consumed both increased from one year to the next. Which of the following could have happened? A Demand decreased and supply remained constant. В Demand increased and supply remained constant. C Supply increased and demand remained constant. Supply decreased and demand remained constant. MoreIn the market for smartphones, which of the following events increases the supply of smartphones? А. New technology lowers the cost of making a smartphone В. An increase in people's incomes С. Rise in the price of an e-book reader (a substitute in production) D. A rise in the wage rate paid to electronics workersEvaluate the effect of changes in supply and demand on theequilibrium price and quantity.