Question 15 Which of the following would be found in the goods market? a) Fibre optic cables or mobile phone masts for internet b) Low-earth orbiting satellites for internet c) A researcher in planetary and space science d) A monthly subscription fee for internet

Economics

Question: Which of the following factors don’t affect the demand for a commodity?[A] Price of commodity[B] Income of individual consumer[C] Want of the consumer[D] Price of related goodPlease Dont use AI tool.

Consider the market for minivans. Indicate the impact if any on demand, supply, price and quantity: (a) People decide to have more children. (b) A strike by steelworkers raises steel prices. (c) Engineers develop new automated machinery for the production of minivans. (d) The price of station wagons rises. (e) A stock-market crash lowers people’s wealth

B4 Using well-labeled supply and demand curves show how the following events will affect the market for gold. a) A large deposit of gold is found in South Africa. b) An increase in the income per capita of a developing country leads to an increase in the global demand for gold. c) There is government ban on mining gold for environmental concerns. d) A production technology reduces the cost of mining.

QUESTION 7 The demand for rubber erasers consists of two components. The first component is the demand for rubber erasers by art students. This demand is given by QA = 19,500 - 325P. The second component is the demand for rubber erasers by all others. This demand is given by Qo = 32,000 - 2,000P. (a) What is the total quantity demanded of rubber erasers if the price of an eraser is: (i) $10 (ii) $15 (iii) $20 (iv) $30 (v) $70 (b) Assume that the supply of rubber erasers is given by Qs = 14,000+ 175P. (i) Find the equilibrium price and the equilibrium quantity. (ii) Calculate the total consumer surplus. [Hint: It may be easier if you calculate the consumer surplus for art students and the consumer surplus for all others separately, and then add them up.] (c) Assume that the supply of rubber erasers is given by Qs = 8,390 + 180P. Find the equilibrium price and the equilibrium quantity. 10 (DC) EN510

qs=-5+3p qd=9-2p2   Draw the market diagram for this product with price shown on the vertical axis. Find the economically meaningful solution for the equilibrium price and quantity.