PRICE (Dollars) 2 PRICE (Dollars) 3 to its original position, just drag it a little farther. 10 Scenario A 8 Supply Demand ロー 6 Supply o 3 4 5 6 7 8 9 10 QUANTITY (Pounds of tobacco) On the following graph, shift the demand or supply curve of scenario B in the same direction that you did in scenario A. Scenario B Do 3 Supply Demand 2 3 4 5 B 7 B 9 10 QUANTITY (Pounds of tobacco) Supply (7 In the following table, enter the new price for tobacco under each scenario as a result of the adoption of healthier lifestyles. (Hint: Select the black point (plus symbol) representing the new equilibrium on the previous graphs to see its coordinates.) Original Price New Price Scenario (Dollars per pound) (Dollars per pound) 5.00 B 5.00

Question attached

The following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)

Please see below. The 0.7 answer I got came back as being right, but the 1.8 came back as being incorrect.

If the price per unit of good A is P175 quantity purchased is valued at 5,250 units and quantity supplied equals 2,500 units. If price changes by P1, quantity demanded changes by 4 units for consumer demand and quantity supplied changes by 2 units.

Multiple Choice O O O D2 to D1 D3 to D1 Point b to point A Point a to point b

Market equlibrium price for strawberries is 5 dollar per kg if demand increase why would not 5 dollar per kg be the equilibrium price anymore draw a diagram

1.You have been recently employed as a consultant for a company that produces laptops in Ghana. Suppose the research department of the company have estimated the demand and supply curves of laptops and they are:2Qd + 0.5P − 24 = 0and 4Qs − 2P + 6 = 0You are to use this information toa. Determine the equilibrium level of prices and quantity demand.b. Represent your answer graphically and determine the welfare of economic agents.c. Suppose the government imposes a tax of ¢4 on every laptop sold, determine the new equilibrium price and quantity.d. Represent the new supply curve, old supply curve and the demand curve on a graph showing all equilibria.e. Show how the economic agents share the tax.f. What is the amount of government tax revenue?

The equilibrium price is the * O price at which the market clears average price consumers are willing to pay. O price at which all consumers are satisfied. O price at which quantity supplied is maximized. O price at which all potential suppliers will sell. Consider the market for arugula, a normal good. Which of the following changes would result in an increase in both the equilibrium price and the equilibrium quantity of arugula? * O A decrease in consumer income An increase in the price of salad dressing, a complement A decrease in the price of radicchio, a substitute An increase in the price of water irrigation for arugula farms An increase in population

PRICE (Dollars per unit) 350 Z 225 175 Y W 50 Demand 0 10 35 45 70 QUANTITY (Units) For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic, (approximately) unit elastic, or inelastic. Elastic Inelastic Unit Elastic Region Between W and X Between X and Y О О Between Y and Z О О О True or False: The slope of the demand curve is not equal to the value of the price elasticity of demand. True False