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 will decrease -demand will decrease -supply will increase   b. Will General Electric's exit from the light bulb market result in a shortage or surplus of light bulbs at the previous price? Will the price of light bulbs rise or fall? shortage, fall surplus, rise shortage, rise surplus, fall     3. A heat wave in Las Vegas causes tourists to cancel their hotel room reservations and vacation elsewhere. a. Which of the following will occur in the demand for Las Vegas hotel rooms? -supply will increase -demand will decrease -demand will increase -supply will decrease   b. Will the heat wave result in a shortage or surplus of Las Vegas hotel rooms at the previous price? Will the price of hotel rooms rise or fall? -surplus, fall -shortage, fall -surplus, rise -shortage, rise

II. What will happen to Demand(D), Supply(S), new Equilibrium Price(P*), and new Equilibrium Quantity(Q*) when the market condition changes as the following. Explain the reason and draw relevant graphs supporting your analysis.   A. Market: Plywood in Florida Event: The Hurricane Center increases the probability of Hurricane to make a landfall in Florida   B. Market: Bauxite Event: GM is able to increase the mph of its vehicles by using more aluminum in cars and so plans to use more aluminum. Bauxite is a resource in producing aluminum.   C. Market: Skateboards Event: The price of fiberglass rises (Fiberglass is a substance used for making skateboards)   D. Market: Hamburger Event: 1. A new processing technology lowers the production cost of hamburger patties AND, simultaneously, Event: 2. The Surgeon General advocates eating only 2 ounces of red meat per day for health concerns   E. Market: Chicken Event 1. Avian flu spreads fast hurting chicken producers AND, simultaneously, Event 2.…

Evaluate the set of events below. Determine how the events will impact their respective markets.   a. In examining the market for personal computers, a technological improvement reduces the cost of production.        The effect of the event will be           in           .        As a result, the equilibrium price will           and the equilibrium quantity will           .   b. In examining the market for smart phones, there is a reduction in the number of sellers.        The effect of the event will be           in           .        As a result, the equilibrium price will           and the equilibrium quantity will           .   c. In examining the market for apps for smart devices, there is a tax levied on the sellers of apps.        The effect of the event will be           in           .        As a result, the equilibrium price will           and the equilibrium quantity will           .

How would you use the theory of Demand and Supply to explain a historical event? Your answer needs to provide at least three paragraphs. The first paragraph identifies and explains in your own words the historical event. The second paragraph identifies the supplier and consumers in the historical event. The third paragraph explains how the supply and demand changed to explain the historical event.

Suppose that the equilibrium price and quantity of new houses both increase. Which of the following could be a cause of this change? Group of answer choices   a.The wage paid carpenters who build new houses might have risen. b.A technological advance in framing a new house might have occurred. c.The rent for nearby apartments might have fallen. d.More home buyers might have moved into the area. e.The cost of wood framing used to build houses might have fallen.

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.

Suppose you are a peanut farmer, and this year, there is a drought that harms the peanut crop. Working with your group, discuss the likely impact on the peanut market as a result of the drought, including the impact on equilibrium.

Identify which side of the market for new automobiles is affected (demand or supply), how is it affected (increase or decrease), what happens to equilibrium price and quantity exchanged due to each of the following changes separately. (You don’t need to draw a graph unless it really makes your life easier   f. Consumers expect car prices to rise in the near future. g. Consumers suddenly become more concerned about environment.

The firm supply and the market supply of bread are shown in the diagram. Which of the following statements about the diagram is incorrect?  Select one: a. There is a close relationship between the firm supply and the market supply. b. The market supply illustrates the total amount supplied by all firms in the market at each price. c. The market supply curve shows the relationship between the price and the amount supplied, ceteris paribus. d. If the price increases, more firms supply bread. e. If the price is 1.5, the amount supplied by a firm is 60.

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