More athletes in the Caribbean start eating yam as they believe it will make them faster and there is currentdrought. Which of the following statements is true?Select one:O a. Both equilibrium price and quantity will fallO b. Both equilibrium price and quantity will increaseO. Equilibrium price will increase but the impact on equilibrium quantity is uncertainO d. Equilibrium quantity will increase but the impact on equilibrium price is uncertain Which of the following scenarios might explain what an economy would be operating inside its productionpossibilities curve?Select one:O a. Because damage to natural resources, such as might be caused by deforestation leading to erosion oftopsoil, has shrunk the land resourceO b. Because of discrimination against employing workers of a certain race or genderO . Because shrinking population has reduced the number of productive workers in the economyO d. Because technological innovations have increased the productivity of labour and capital

At equilibrium price, quantity demanded is equal to quantity supplied. The equilibrium price and…

More athletes in the Caribbean start eating yam as they believe it will make them faster and there is current drought. Which of the following statements is true? Select one: O a. Both equilibrium price and quantity will fall O b. Both equilibrium price and quantity will increase O. Equilibrium price will increase but the impact on equilibrium quantity is uncertain O d. Equilibrium quantity will increase but the impact on equilibrium price is uncertain

More athletes in the Caribbean start eating yam as they believe it will make them faster and there is current drought. Which of the following statements is true? Select one: O a. Both equilibrium price and quantity will fall O b. Both equilibrium price and quantity will increase O. Equilibrium price will increase but the impact on equilibrium quantity is uncertain O d. Equilibrium quantity will increase but the impact on equilibrium price is uncertain

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following would not cause a change in supply? O a. A decrease in the number of firms in the industry. b. An increase in the price of the good. C. A technological advance. d. All of the other answers will cause supply to change. e. A decrease in wages of labor used in production.
Large leather purses After several movie stars are photographed carrying large leather purses, people go crazy for these items, and the price rises a lot. In the market diagram above, what happens? Select one: O a. Supply goes up in response to the rise in price. O b. There is not enough information to tell. O c. Quantity supplied increases as the price rises. O d. Supply actually decreases since people stop buying these items when the price rises. Check
The following graph plots a supply curve for some hypothetical good. PRICE (Delar per un QUANTITY (UN) Supply For each of the regions, use the midpoint method to identify whether the supply of this good is elastic or inelastic Region Elastic Inelastic Between X and Y O O Between V and W O
Answer question 47
4. When both the Supply and Demand curves increase, then: A. The equilibrium price will certainly increase. We cannot predict what the movement might be for the equilibrium quantity, unless we look at the relative shifts of the two curves B. Both the equilibrium quantity and equilibrium price will certainly increase (i.e., regardless of the relative shifts of the two curves) C. The equilibrium quantity will certainly increase. We cannot predict what the movement might be for the equilibrium price, unless we look at the relative shifts of the two curves D. Both the equilibrium quantity and equilibrium price will certainly decrease (i.e., regardless of the relative shifts of the two curves)
An add in the newspaper claims that the price of milk will increase next week. At the same time, a new and improved pasteurization process makes milk production more efficient. Given these two effects, what can we say about the equilibrium price and quantity of milk? O Equilibrium price will decrease; the effect on quantity is ambiguous. O Equilibrium quantity will decrease, equilibrium price will increase. O Equilibrium price will increase; the effect on quantity is ambiguous. O Equilibrium quantity will increase; the effect on price is ambiguous.
Which of the following would cause the price of beef to rise and the quantity to rise? O a. An increase in the price of chicken O b. New regulations regarding the raising of animals that are costly to implement O c. Increased social concern about the negative consequences of beef consumption O d. A reduction in the price of hay and silage (these are both things fed to cows)
The figure belov WS supply i demand curves for bread. 45 4.0 Supply (maginal cost 35 30 20 00 O 1 00 2,000 3,000 4000 5,000 6,000 7,000 8000 9,000 10,000 Quantity of loaves,Q You will not be given credit unless you provide a detailed explanation for the following questions! a) What are the equilibrium price and the equilibrium quantity in the bread market? How can you tell? Is there excess supply or excess demand in the bread market when the price of bread is 2.5 euros? Why? Explain how price, quantity demanded and quantity supplied will adjust to reach equilibrium when the price is b) 2.5 euros. Initially, the bread market is in equilibrium. Suppose that there is technological improvement in the production process of bread. Explain how supply and demand curves, equilibrium price and equilibrium quantity c) change as result.
Gmail ▸ YouTube Remaining Time: 3 hours, 18 minutes, 48 seconds. * Question Completion Status: 52°F Sunny Maps 2 * S 3 W E = Lamar State Colleg... us history D $ 4 SA What would be the Equilibrium Price and the Equilibrium Quantity if the Demand for Good A increases ? O A. Equilibrium Price: P5; Equilibrium Quantity: Qc O B. Equilibrium Price: P5; Equilibrium Quantity: QA O C. Equilibrium Price: P3, Equilibrium Quantity: QA O D. Equilibrium Price: P3; Equilibrium Quantity: Qc O E. None of the Above R ts FL 40 % 5 P3 6 PA P5 P O Search & T Y 7 1 G H I | 1 1 90 QA QB QC I * U f9 8 ly 222434_1&content_id=_9619812_1&question 1 D 9 E S JK >Q 8 O L P
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Consider the following Cournot duopoly. Both firms produce a homogenous good. The demand function is Q = 100 – P, where Q is the total quantity produced. Firm 1's marginal cost is MC1= 10. Firm 2's marginal cost of production is MC5 = 492 with probability 0.5 and MC5 = 29, with probability 0.5. Firm 2 knows its own cost function and firm 1's cost function. Firm 1 knows its own cost function and the probability distribution of firm 2's marginal cost. What is the quantity produced by firm 1 in a Bayesian Nash Equilibrium? 980/23 155/4 1660/43 980/23 if the cost is high and 155/4 if the cost is low
A large disruption in the world oil supply increases the price of oil for a long while. What will happen to the price and quantity of Hybrid cars in the U.S.? O Equilibrium price rises, equilibrium quantity rises. O Equilibrium price falls, equilibrium quantity rises. Equilibrium price rises, equilibrium quantity falls O Equilibrium price rises, equilibrium quantity falls