Which of the following situations could be considered examples of price gouging? a. A deadly tornado strikes Oklahoma City, destroying the homes of 50% of its population. Immediately afterward the price of sleeping bags increases by 150%. b. The exchange rate between U.S. dollars and the Papua New Guinea kina increases sharply as the Summer Olympics in Paris, France, approach. c. A new model of sunglasses become the hottest overnight fashion trend after several movie stars wear them to the Academy Awards. As a result, producers increase their price B300%. d. At what level would you expect prices to settle during a period of price gouging? The price would settle the pre-gouging market price.

By using diagram, show the impact of a shift of demand or supply on the equilibrium point.

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 consumersb. What are the changes in the consumer surplus?c. Sketch a diagram to illustrate the changes for Juna.

Over the past 20 years, the average price of avocados has more than doubled. Assume that the price of avocados is determined by the forces of supply and demand.  Using concepts that you have learned about supply and demand, explain whether the following is or is not a cause of the increase in price of avocado.   Restrictions on imports of avocados from Mexico were gradually lifted. Improved production methods allowed for slower ripening of avocados and therefore more avocados can be reliably shipped. Mexican food, which regularly features avocados, has become more popular.

The following is an excerpt from an article in the Singaporean newspaper, the Straits Times: Singaporeans with a sweet tooth could soon find themselves paying more for their favourite treats, as bakers and confectioners buckle under soaring sugar prices. Since March last year, the price of white sugar has shot up by 70 per cent, according to the New York Board of Trade. As if that didn’t make life difficult enough for bakers, butter and cheese prices have also risen, by 31 per cent and 17 per cent respectively. The increases have been caused by various factors: a steep drop in Thailand’s sugarcane production due to drought, higher sea freight charges, increasing demand from China’s consumers for dairy products and the strong Australian and New Zealand dollar. For the consumer in Singapore, what this may eventually boil down to is a more expensive bag of cookies, with prices at some bakeries expected to rise between 10 and 20 per cent. [The owner of a Singapore…

I need help constructing the diagram in Excel. The major BP oil spill in the Gulf of Mexico substantially reduced the harvest of shrimp and other seafood in the Gulf, but had limited impact on the prices that U.S. consumers paid in 2010 (Emmeline Zhao, “Impact on Seafood Prices Is Limited,", Wall Street Journal, June 20, 2010). The reason was that the United States imports about 83% of its seafood and only 2% of domestic supplies come from the Gulf. Use a supply-and-demand diagram to illustrate what happened.

Which of the following situations could be considered examples of price gouging? a. A deadly tornado strikes Oklahoma City, destroying the homes of 50% of its population. Immediately afterward the price of sleeping bags increases by 150%.  price gouging b. The exchange rate between U.S. dollars and the Papua New Guinea kina increases sharply as the Summer Olympics in Paris, France, approach.    c. A new model of sunglasses become the hottest overnight fashion trend after several movie stars wear them to the Academy Awards. As a result, producers increase their price by 300%.    d. At what level would you expect prices to settle during a period of price gouging? The price would settle     the pre-gouging market price.

Using your knowledge of both demand and supply curves, show and explain the impact of the following: an increase in consumer incomes on the price of restaurant meals an increase in the price of cheese on the price of pizza a decrease in the price of Starbucks coffee on the price of Second Cup coffee the introduction of a new Xbox model on the market for the current Xbox model the expectation of future price increases on the present price of houses.