Suppose a decrease in the world demand for desktop  computers causes the price of desktop computers to fall  from $600 to $500. Before the fall in demand, Juna, a  local computer dealer in Japan, used to produce 9,000  desktop computers and exported 50 percent of it to other  countries every week. However, after the fall in demand,  Juna reduced its production to 8,000 units and exports  only 40 percent of its total output. a. What are the changes in the quantity sold to domestic  consumers b. What are the changes in the consumer surplus? c. Sketch a diagram to illustrate the changes for Juna.

Scientists have developed a bacterium they believe will lower the freezing point of agricultural products. This innovation could save farmers $1 billion a year in crops now lost to frost damage. If this technology becomes widely used, what will happen to the equilibrium price and quantity in, for example, the potato market? price will increase, quantity will increase price will decrease, quantity will decrease price will increase, quantity will decrease. price will decrease, quantity will increase The change in equilibrium price and quantity is indeterminate.

Suppose the demand for organic bananas is given by the following equation: Qd = 10 - 1P where Qd is the quantity demanded per week of organic bananas, and P is the price of organic bananas. Suppose further that the supply of organic bananas is: Qs = 3 + 2P where Qs is the quantity supplied per week of organic bananas. What is the equilibrium market quantity of organic bananas? (Round your answer to 2 decimal places.)

IBM sold its personal computer (PC) and laptop business to Leonova (a Chinese company). HP and Compaq merged into one company. Dell is having trouble keeping its sales volume growing. These are indications that the supply of PCs produced by US companies should eventually ______________.   >>>Is it decrease? Due to more Chinese computers?

The following graph presents the market for motorcycles in 2015. Between 2015 and 2016, the equilibrium quantity of motorcycles remained constant, but the equilibrium price of motorcycles decreased. Given this information, you can conclude that between 2015 and 2016, the supply of motorcycles and the demand for motorcycles Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2016. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther." lars per motorcycle) Supply Demand Supply ?

Consider the following statement: "The market supply for natural gas is the sum of all prices that natural gas producers are willing and able to sell at for every quantity." What is the flaw in this statement? Select the correct answer.   It should state that market supply is the sum of the quantities of natural   gas that producers are willing and able to sell at every price.   It should state that market supply is the price of natural gas that one firm is willing and able to provide a specified quantity of its product at.   There is no flaw in this statement.   It should state that market supply is the quantity of natural gas that producers are willing and able to sell at one specific price.

Draw a supply and demand curve for oil. The government says we can no longer import oil from overseas, what happens to the supply or demand of oil? Why?

Q.1. Suppose that the demand for steel in Japan is given by the equation Q's = 1200 - 4Ps + PA+ PT, where QS is the quantity of steel purchased (millions of tons per year), PS is the price of steel (yen per ton), PA is the price of aluminum (yen per ton), and PT is the price of titanium (yen per ton). The supply curve for steel is given by Q$s = 4Ps. Similarly, the demand and supply curves for aluminum and for titanium are given by Q'A = 1200 – 4PA + Ps + PT (demand curve for aluminum), Q°A = 4PA (supply curve for aluminum), Qʻr= 1200 – 4PT + Ps+ PA (demand curve for titanium), and QST = 4PT (supply curve for aluminum). a) Find the equilibrium prices of steel, aluminum, and titanium in Japan. b) Suppose that a strike in the Japanese steel industry shifts the supply curve for steel to Q°s = Ps. What does this do to the prices of steel, aluminum, and titanium? c) Suppose that growth in the Japanese beer industry, a big buyer of aluminum cans, fuels an increase in the demand for aluminum…

Select the phrase that correctly completes the following statement. "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. As a result. ________."     the price of sailboats increased. The higher price caused the supply of sailboats to increase.     the equilibrium quantity of sailboats increased.     the price of sailboats increased and the demand for sailboats decreased.     the price of sailboats increased and the quantity demanded of sailboats decreased.

Solve it!