Equilibrium Describe what happens in a market when sellers set prices above the equilibrium price. Your text discusses the price of oil. As I type this Saudi Arabia is limiting their oil exports. How does this affect the supply curve of oil. Draw a graph showing this and add it to your blog post. What happened to equilibrium price? How will quantity demanded change on the short run? Is this a shift in the demand curve or a movement along the demand curve?

You are given the demand schedule for Netflix Subscription in the UAE as below Price (in AED) Quantity (in thousands) 20 1000 50 750 100 550 130 500 150 450 180 300   Draw a curve representing the demand for watching Netflix in the UAE State the law of demand and show on the graph what will happen if Netflix reduces its subscription from AED 80 to AED 60. Will it be a movement or a shift? Why?

The article discussed the potential of Iraq as a major oil supplier. Draw a hypothetical demand and supply of Iraq petroleum before and after all their oil refinery projects were established. Thus you will depict two equilibrium prices. Explain the movement of prices in the market by identifying the factors that may cause these shifts.

Pork belly strips and lettuce are complementary goods because most of the time they are enjoyed together especially that ‘samgyupsal’ restaurants are famous nowadays. What happens to the supply, demand, quantity demanded, quantity supplied, supply curve, demand curve, and price in the market of lettuce if the price of pork belly strips rises? Use demand diagram

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.

Which of the following would result from a decrease in supply?   A. a decrease in the equilibrium price and a decrease in the equilibrium guantity   B. an increase in the equilibrium price and an increase in the equilibrium quantity   C. a decrease in the equilibrium price and an increase in the equilibrium quantity   D. an increase in the equilibrium price and a decrease in the equilibrium quantity   Which of the following would cause a rightward shift of the demand curve and a leftward shift of the supply curve?   A. a decrease in the price of a substitute and a decrease in the price of a complement in production   B. an expectation of higher income and a decrease in productivity   C. a positive change in consumer tastes and a decrease in the cost of an input   D. a decrease in the price of a complement and an expectation by firms of a lower price   E. an expectation by consumers of a lower price and a decrease in the number of firms in an industry

Iran has threatened to close the Straits ot Hormuz, a narrow passageway that connects the Persian Gulf and the Indian Ocean. As a result, gas prices have increased. What is the effect on grocery prices in general? What Will be the fifth on demand and supply of gas in Texas? 1. what has happened to his concern you as an economist?

This not a grade  Question to go with picture:  Label the new Equilibrium E1 What is the new equilibrium price? What is the new equilibrium quantity? Was the result of a change in supply or quantity supply? Was the change an increase or decrease? As a result, did the equilibrium price increase or decrease? As a result did the equilibrium quantity increase or decrease?

Q18

I recently stumbled upon the following quote in a newspaper: "Increased production (i.e. an increase in supply) leads to a lower price; which in turn, increases demand." Do you agree with such reasoning? Briefly explain.