Consider the market for minivans. For each of the following events, identify which of the determinants of supply and/or demand is affected and indicate an increase or decrease in supply and/or demand. Illustrate the shift of a supply curve and/or demand curve in each of the following cases. Describe the change in the equilibrium. 1. People decide to have more children 2. A strike by steelworkers raises steel prices 3. Engineers develop new automated machinery for the production of minivans 4. The price of sports utility vehicles rises.

Ned owns a small electronics repair business. He can either repair iPhones or Samsung phones. If he only repairs iPhones he can repair 16 phones in a day. If he only repairs Samsung phones, he can repair12 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. iPhones repaired per day 20 18 16 14 ୯ 12 10 8 6 4 2 0 0 2 4 6 8 10 12 14 Samsung phones repaired per day 16 Ned's PPF 18 20 What is the opportunity cost of iPhone repairs production (in terms of Samsung repairs/iPhone repairs)? 16 3/4 12 1/2 4/3 2

HWICH DA) The following graph presents the market for bikes in 2017. Between 2017 and 2018, the equilibrium quantity of bikes remained constant, but the equilibrium price of bikes decreased. Given this information, you can conclude that between 2017 and 2018, the supply of bikes Increased and the demand for bikes increased Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2018. 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 backe to its original position, just drag it a little farther." PRICE (Dollars per bike) Supply Demand Demand Supply X ?

Which of the following best describes what happens when you move along the supply curve? Quantity supplied changes as price changes. Quantity supplied changes as technology changes. Supply changes as price changes. Supply changes as technology changes.

Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following events. (a) The market for hotel rooms in your town Case 1: The wages of housekeepers go up. Case 2: A major political meeting will be held in your town, attracting many visitors across the country. (b) The market for bagels Case 1: People realize that bagels are high in calories and sugar, which could cause overweight and other health issues. Case 2: People have less time to cook breakfast in the morning. (c) The market for the Krugman and Wells economics textbook Case 1: Your professor makes it required reading for all of his or her students. Case 2: Printing costs for textbooks are lowered by the use of cheaper paper.

By using diagram, show the impact of a shift of demand or supply on the equilibrium point.

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.

Consider the market supply of cereal. Complete the following table by indicating whether an event will cause a movement along the supply curve for cereal or a shift of the supply curve for cereal, holding all else constant. Event Movement Along Shift A decrease in the price of cereal       A change in technology that makes it less costly to produce cereal       A decrease in the price of oats (used in the production of cereal)

Question 1 For each of these situations for part a, b, c, answer what happens to the list below. (increase, decrease, no change) with all other things constant. In addition draw the necessary Demand and Supply graph and show the shifts. Label all points on the graphs clearly. State for each market below what happens to: demand, supply, equilibrium price, equilibrium quantity, Quantity Demanded, Quantity Supplied How will a decrease in supply of Coffee affect the market for Coffee and Tea market? Assume substitute products. You need to show two markets, with two sets of the list. ? How will an increase in cost of plastic used in making toys affect the market for toys? How will the increase' Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

In each of the following scenarios, the market is initially in equilibrium. Determine the impact each event would have on the given market. SELECT THE CORRECT ANSWER IN EACH SITUATION   1. New advances in recycling technology reduce the cost of producing paper made from recycled material. a. Which of the following will occur in the market for paper made from recycled material? -supply will decrease -supply will increase -demand will decrease -demand will increase   b. Will the advancement in recycling technology result in a shortage or surplus of paper made from recycled material at the previous price? Will the price of paper made from recycled material rise or fall? -surplus, rise -shortage, rise -shortage, fall -surplus, fall     2. Suppose General Electric, one of the largest suppliers of light bulbs, decides to discontinue its production of light bulbs. a. Which of the following will occur in the market for light bulbs? -demand will increase -supply…