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.

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the table below represents the demand for bottles of sunscreen at Daytona Beach on a sunny June day.   Demand for Sunscreen Price (dollars) Quantity of Sunscreen Demanded (bottles) $4 7,200 8 7,000 12 6,800 16 6,600 20 6,400 If the price of a bottle of sunscreen is $12, what will be the quantity demanded?

Draw a diagram and show the shifts in demand and supply and indicate your new equilibrium price and quantity, assuming that the magnitude of shifts in the demand and supply curves is the same. What happens to the equilibrium price charged and equilibrium quantity demanded and supplied?

Demand and supply often shift in the retail market for gasoline. Here are two demand curves and two supply curves for gallons of gasoline in the month of May in a small town in Maine. Some of the data are missing.Using the table, answer the following questions:                                              Quantities Demanded                                 Quantities Supplied Price D1 D2 S1 S2 $7.00 5,000 7,500 9,000 9,500   6,000 8,000 8,000 9,000  5.00   8,500   8,500     9,000 5,000   Use the following facts to fill in the missing data in the table. If demand is D1 and supply is S1, the equilibrium quantity is 7,000 gallons per month. When demand is D2 and supply is S1, the equilibrium price is $6.00 per gallon. When demand is D2 and supply is S1, there is an excess demand of 4,000 gallons per month at a price of $4.00 per gallon. If demand is D1 and supply is S2, the equilibrium quantity is 8,000 gallons per month.  b. Compare the two equilibriums: In the first,…

Whats the market equilibrium price and the graph?

hello, please help me!! You only choose one secinario and draw about it. please make sure which one you choose.

What is the "quantity demanded"? A) the maximum amount of a good that can be consumed during a specific time period B) the amount of a good people are able and willing to buy during a specific time period and at a given price C) the amount of a good people desire D) the amount of a good people are able and willing to buy at all possible prices

Suppose exceptionally good weather provides a much bigger than expected orange harvest. Instructions: Depict how this event will affect the market for oranges by dragging the appropriate curve in the graph. Price (S/orange) Ž I Market for oranges Quantity (oranges/week) $ What will happen to the equilibrium price and quantity of oranges? ↑ Equilibrium price will decrease and equilibrium quantity will increase. Equilibrium price will increase and equilibrium quantity will decrease. Both equilibrium price and equilibrium quantity will decrease. Both equilibrium price and equilibrium quantity will increase.

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