During the Christmas holiday season, the price of Christmas trees increases and the quantity demanded for trees also increases. Does it reflect change in quantity demanded or change in demand? Support your answer with the use of a diagram. Label your diagram with appropriate variables on X axis and Y axis

(2 points) The graph below describes the effects of an increase in the average consumer income in the market for a normal good. D is the demand before the increase in income and D2 is the demand after the increase. Please use the labeled areas in the graph to answer the following questions. Question 5 Not yet answered Marked out of F 2.00 P Flag question P2 D P1 D2 D1 Q1 Q2 (0.5 points) What is the consumer and producer surplus before the increase in consumer income? a. b. (0.5 points) What is the change in consumer surplus and the change in producer surplus after the change in income? (0.5 points) Has total welfare increased or decreased? What is the change in total welfare? C.

Suppose both the demand for olives and the supply of olives decline by equal amounts over some time period. Use graphical analysis to show the effect on equilibrium price and quantity. Instructions: On the graph below, use your mouse to click and drag the supply and demand curves as necessary. D1 Quantity of olives Price of olives

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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

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e Price -Q₁ Quantity Which of the following scenarios is BEST represented in the graph? A number of sellers increase B decrease in government taxes C resource costs increase D technology improves

The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013. Year 2012 2013 Selling Price ($) Sales (millions) 928 1,144 375 335 (a) Use the data to obtain a linear demand function for this type of cell phone. (Let p be the price, and let q be the demand). q(p): -5.4p + 3185 X Use your demand equation to predict sales if the price is lowered to $255. 1808 x million phones (b) Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by 5.4 million units.

Question 2 (5 marks) No words allowed, only a diagram with annotations To answer this question only a diagram with annotations is required. Suppose apples and pears are substitutes in consumption. An outbreak of Grumpy Granny Smith fungus has a devastating effect on the size of the apple crop. Show on a diagram how this will affect the market for pears. Indicate how the equilibrium price and equilibrium quantity of pears will change. The direction of any changes should be indicated using arrows. S hp Please turn over. FTSE jse 40

Pls answer it with step by step explanation