Suppose research shows that drinking sodas increases the risk of heart disease. As a result, the government mandates a warning to be printed on all soda bottles. What will happen to the equilibrium price and quantity of sodas after this result is announced?

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According to the U.S. Department of Energy, the average price of gasoline in the U.S. fell by 14% in 2015. The number of hybrid electric vehicles (HEV) sold in the U.S. fell by 36% in the same year. Calculate the cross-price elasticity of demand for HEVs and gasoline. Round answer to one place after the decimal.

The table below shows the demand for a particular brand of fax machine in a department store in each of the last twelve months. 12 Month Demand 12 15 19 5 6 7 23 27 30 32 33 37 3 4 8 9 10 11 12 41 49 58 a) Calculate the four month. What would be your forecast for the demand in month 13?

The demand for a commodity generally decreases as the price is raised. Suppose that the demand for oil (per capita per year) is D(p)=1000//p barreis, where p is the price per barrel in dollars. Find the demand when p=55. Estimate the decrease in demand if p rises to 56 and the increase in demand if p is decreased to 54. The demand D(55)= The decrease in demand =? barrels. The increase in demand =? barrels.

ЕОC 6.03 A 45% fall in the price of computers leads to a 20% rise in the amount of computers purchased by customers. Using this information, we would expect total revenue to when prices drop. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. decrease increase not change d increase or decrease (not enough information)

Bill O'Really of OX News observed that poultry (chicken and turkey) consumption in the US increased dramatically over the 2000 to 2006 period. This he believed was due to the fact that consumers, being more health conscious, switched from red meat to poultry, in an effort to eat healthier foods. Intrigued by these findings, Bill contacted the US Department of Agriculture for additional information. The department provided him with data that yielded two findings. First, there was a 75% decrease in the price of poultry over the period and second, there was widespread adoption of cost reducing innovations in poultry processing. Being a supposedly brilliant journalist, Bill concluded that the demand curve for poultry had shifted to the right. a. Is Bill's conclusion correct or incorrect? Explain your answer using supply and demand diagrams (best to use two diagrams in your answer). ANS:

When the price of a good is $100, the quantity supplied is 750 units; when the price is $200, the quantity supplied is 1,250 units. Using the midpoint method, compute the price elasticity of supply for the good.

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consider public policy aimed at smoking. Studies indicate that the price elasticity of demand for cigarettes is about 0.4. If a pack of cigarettes currently cost $5 and the government wants to reduce smoking by 20%, it should increase the price by what %? If the government permanently increases the price of cigarettes, the effect on smoking 1 year from now will be blank than the effect 3 months from now. Studies also find that teenagers have a higher price