During the last year, the demand for household phone lines has been falling. At the same time, consumers have chosen to buy more iphones due to the multitasking that they allow. Use a demand and supply graph to analyze the effects of these factors on the equilibrium price and equilibrium quantity in the market of land-lines and iphones. Clearly show on your graph the old equilibrium price and quantity and the new equilibrium price and quantity. Can you tell whether the new equilibrium price will be higher or lower than the old equilibrium price in each market?

For each of the following changes in the demand or supply curves in the automobile market below, draw a graph showing the old demand and supply curves as well as the new demand or supply curve (whichever shifts).  Also, show how the equilibrium price and equilibrium quantity change. Show work on 3 different graphs. The income of consumers rises and automobiles are considered a normal good. Over time, and due to new resource discoveries, gasoline prices fall. The availability and price of public transportation falls.

Please provide an explanation so I can do it my own. Thanks!

Discuss the determinants of demand and supply and how they affect the equilibrium price and quantity in a market.

Consider the market for laptop computers. Click on the graph to the right to determine how the following event will impact this market. Do this by illustrating the event on the graph and then assess its impact on the equilibrium quantity and the market price Event: The price of memory chips used in laptop computers declines. OA. The supply increases, causing the equilibrium quantity to rise and the market price to fall. OB. The supply increases, causing the equilibrium quantity to fall and the market price to rise. OC. The supply decreases, causing the equilibrium quantity to fall and the market price to rise. OD. The quantity supplied increases, causing the equilibrium quantity to rise and the market price to fall. Price (hundreds of 5) 2345674 10 11 12 Quantity (housands per month)

Last year, a man shared a video on TikTok of himself longboarding to work while drinking a bottle of OceanSpray juice. This resonated with the online community and kicked off a challenge to reproduce the scene using the same drink. Use the Four-Step method and draw a supply/demand graph to predict the effect on equilibrium price and quantity for OceanSpray. Clearly label your graph and upload it to the dropbox labeled (you may draw it on paper and take a picture, or use some other software).

Market in equilibrium: consider a market for smartphones where the equilibrium price (P*) is $600 per phone, and the equilibrium quantity (Q*) is 100,000 phones per month draw the initial supply and demand graph. qor Q Events: Due to a global shortage of microchips, the cost of producing smartphones increases significantly. Additionally, a new study reveals that smartphone usage can lead to improved cognitive abilities, leading to an increased demand for smartphones. Explain how both the supply and demand curves would be affected. Draw the new supply and demand curves on your graph (in red) and predict the changes in equilibrium price and quantity. I Demand: Supply:

The following graph shows the monthly demand and supply curves in the market for hats.   (graph in image)   The equilibrium price in this market is $______ per hat, and the equilibrium quantity is ___ hats bought and sold per month.   Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and whether this places upward or downward pressure on prices.   Price Shortage or Surplus Shortage or Surplus Amount Pressure 60             40

Over the past 20 years, the average price of avocados has more than doubled. Assume that the price of avocados is determined by the forces of supply and demand.  Using concepts that you have learned about supply and demand, explain whether the following is or is not a cause of the increase in price of avocado.   Restrictions on imports of avocados from Mexico were gradually lifted. Improved production methods allowed for slower ripening of avocados and therefore more avocados can be reliably shipped. Mexican food, which regularly features avocados, has become more popular.

The island nation of Coconutistan recently suffered an unfortunate accident which took its water treatment plant offline, leaving residents without clean water in their homes. The plant for bottling water was unaffected by the accident. The graph shows the supply and demand for bottled water before the accident. Assume that $6 is the maximum price for a case of bottled water according to the price gouging laws on the island. Shift one or more curves to show the effect of the accident on the market for bottled  water. Price ($)Quantity of bottled water by the case01002003004005006007008009001,000012345678910SupplyDemandPrice ceiling What is the amount of the shortage after the accident? shortage: