Consider the economy of Russia, which produces oil and cars that are sold both domestically and internationally. Suppose an increase in foreign income causes an increase in the world demand for oil, whereas the supply does not change. The following graph shows the market for oil in Russia. Adjust the following graph to show the effect of a higher demand for oil on the economy of Russia. 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.

Question 1 Consider a rice farmer planting two (2) types of rice, white and brown rice, concurrently in his rice field using the same resources and technology and harvesting them at the same time. Given that consumers like to mix both white and brown rice in their daily consumption, explain the effect on the white rice market when the price of brown rice increases. Support your answers with suitable white rice market diagrams. Consider a farmer that produces both white and brown rice. It is discovered that the demand for brown rice is relatively more inelastic compared to the demand for white rice. Initially the price of both white and brown rice is the same and the farmer produces the same quantity of white and brown rice. Now there is an improvement in agricultural technologies that affect both white and brown rice equally. Employ the demand and supply model to compare and contrast the effects on the equilibrium price and quantity of both white and brown rice…

Price si S2 C D2 D1 Quantity Which of the following would result in equilibrium shifting from point C to point A?

Assume the demand curve for Pepsi passes through the following two points. Price per bottle of Pepsi $2.25 $1.75 Number of bottles of Pepsi sold 100,000 275,000 When plotting the demand curve (with price in dollars on the y-axis and quantity in bottles on the x-axis), when the y-value is $2.25, the x-value is the y-value is $1.75, the x-value is bottles. (Enter your responses as whole numbers.) bottles, and when

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.

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? Show all working calculations and label garph with…

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.For the 2 blank answers here are the options:Blank Answer #1:decrease or increase

The demand for Good X in New Bedford, MA is given by the following equation: Qd=60-40P+2I-30Py where: Qd is the quantity demanded of Good X P is the price of Good X I is income Pb is the price of Good Y Without performing any calculations, determine if Good X and Good Y are substitutes, complements, or unrelated goods.  Explain how you used the function to make this determination. Without performing any calculations, determine if Good X is a normal or inferior good.  Explain how you used the function to make this determination. On a clearly labeled graph, plot the demand curve assuming the price of Good Y is $6 and income is $700

You are a financial analyst with a specialization in the motion pictureIndustry. You have been hired to analyze the prices of movie theater tickets. The following two events are occurring simultaneously in the Ghana:A new national chain opens new multi-screen movie theaters in most cities in Ghana.Movie theaters cut the price of popcorn and soft drinks in half.Draw a demand-and-supply graph showing equilibrium in the market for movie tickets hefore the above two events took place. Label the axes and curves. Label the initial equilibrium — before events (i) and (ii) - as P,and Q, on your graph.b.Now show on your graph how event (i) affects the demand or supply curves for tone teres, Brelly explain which of the demand or supply variables caused the eftect you are showing on your graph.Now slow on your graph how event (il) affects the demand or supply curves for ovis Lesets. Brielly explain which of the demand or supply variables caused the effe you are showing on your graph.Based on your…

The market price of pizzas in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease. Some students suggest that the price decreased because several new pizza parlors have recently opened in the area. Other students attribute the decrease in the price of pizzas to a recent decrease in the price of hamburgers at local burger joints. Everyone agrees that the decrease in the price of hamburgers was caused by a recent decrease in the price of ground beef, which is not generally used in making pizzas. Assume that pizza parlors and burger joints are entirely separate entities-that is, there aren't places that serve both pizzas and hamburgers. The first group of students thinks the decrease in the price of pizzas is due to the fact that several new pizza parlors have recently opened in the area. On the following graph, adjust the supply and demand curves to illustrate the first group's explanation for the decrease in the price of…