7. Determinants of supply The following calculator shows the supply curve for sedans in an imaginary market. For simplicity, assume that all sedans are identical and sell for the same price. Two factors that affect the supply of sedans are the level of technical knowledge-in this case, the speed with which manufacturing robots can fasten bolts, or robot speed-and the wage rate that auto manufacturers must pay their employees. Initially, the graph shows the supply curve when robots can fasten 2,500 bolts per hour and autoworkers earn $25 per hour. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Thousands of dollars) 50 10 0 0 Supply 100 200 300 400 500 600 700 800 900 QUANTITY (Sedans per month) Graph Input Tool Supply for Sedans Price a Sedan (Thousands of dollars) Quantity Supplied (Sedans per month) SUPPLY SHIFTERS Robot Speed (Bolts per hour) Autoworker Wage (Dollars per hour) 20 225 2500 25 Consider the previous graph. Suppose that the price of a sedan decreases from $25,000 to $20,000. This would cause the sedans to decrease, which is reflected on the graph by a the supply curve. Following a technological improvement-for example, an increase in the speed with which robots can attach bolts to cars-there is a the supply curve because the technological improvement makes cars ? of

Suppose Disney+ changes its monthly subscription price from $7 to $9 per month. Graphically show the impact of this price change in the following markets:   a. Popcorn, pizza, and other movie snacks   Instructions: Drag the supply or demand curve to its new position.     b. Netflix   Instructions: Drag the supply or demand curve to its new position.

Suppose that Paolo and Sharon are the only suppliers of collectible action figures in a particular market. The following table shows their annual supply schedules: Price Paolo's Quantity Supplied Sharon's Quantity Supplied (Dollars per action figure) (Action figures) (Action figures) 10 A-Z 4 8. 18 6. 12 24 8. 14 28 10 16 30 On the following graph, plot Paolo's supply of collectible action figures using the green points (triange symbol). Next, plot Sharon's supply of collectible action figures using the purple points (diamond symbol). Finally, plot the market supply of collectible action figures using the orange points (square symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. 12 Paolo's Supply 10 Sharon's Supply MacBook Air F12 F11 F10 F9 FB F7 F6 吕0 F5 O00 F4 F3 * delete &

8. Shifts in supply or demand I The following graph plots the market for electric guitars in Chicago, where there are always over 1,000 music stores. Suppose the price of acoustic guitars decreases. (Assume that people regard electric guitars and acoustic guitars as substitutes.) Show the effect of this change on the market for electric guitars by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dollars per guitar) QUANTITY (Guitars) Supply Demand Demand Supply ? Now suppose Congress passes a new tax that decreases the income of Chicago reside If electric guitars are a normal good, this will cause the demand for electric guitars to decrease increase

The following table shows two demand schedules for a given style of men's shoe-that is, how many pairs per month will be demanded at various prices at Stromnord, a men's clothing store. $ Price $75 70 65 60 55 $ D1 Quantity Demanded 53 60 68 77 87 Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1. Instructions: Enter your answers as a whole number. a. If demand is D₁, what is the lowest price that Stromnord can charge so that it will not run out of this model of shoe in the month of July? What if demand is D2? D2 Quantity Demanded 13. 15 18 22 27 b. If the price of shoes is set at $75 for both July and August and demand will be D2 in July and D₁ in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? pair(s) How many pairs of shoes should it order if the price…

2.5 This problem involves solving demand and supply equations together to determine price and quantity. a. Consider a demand curve of the form QD=-2P+20, where QD is the quantity demanded of a good and P is the price of the good. Graph this demand curve. Also draw a graph of the supply curve Qs =2P-4, where Qs is the quantity supplied. Be sure to put P on the vertical axis and Q on the horizontal axis. Assume that all the Qs and Ps are nonnegative for parts a, b, and c. At what values of P and Q do these curves intersect-that is, where does QD = Qs ? b. Now, suppose at each price that individuals demand four more units of output-that the demand curve shifts to QD - 2P+24. Graph this new demand curve. At what values of P and Q does the new demand curve intersect the old supply curve-that is, where does QD = Qs ? c. Now finally, suppose the supply curve shifts to Q's=2P-8. Graph this new supply curve. At what values of P and Q does QD Q's? You may wish to refer to this simple problem…

By providing an example, explain three factors that might shift the demand curve for a product inward (to left).

Please give a detailed solution with an explanation. Please make sure the graph is visible, clear, and detailed. Make sure to include the new equilibrium coordinate point as well.

What are some general factors that can impact the demand for a product and the supply of a product? Identify at least two factors for each and explain the different ways these determinants can shift supply and demand either left or right.

Only typed answer and don't use chat gpt