With the outbreak of COVID-19, many people in Hong Kong choose cooking athome instead of dining out to reduce the chance of contacting Coronavirus. At thesame time, it is observed that many restaurants have closed down.Given that many restaurants cut their menu prices in this period, explain, with theaid of a supply-and-demand diagram, how the above changes affect the market fordining out meals in restaurants.

The diagram illustrates the demand for MQ2020, a luxury car manufactured by MQ Motors Which statement correctly describes the demand for MQ2020? 8,000 Price, P: WTP (5) 6,000 4,800 4,000 3,200 2,000 0 0 40 60 80 100 Quantity, Q: number of consumers per day 120 Select one O a. There are 99 consumers per day who are willing to pay money for MQ2020. O b. If MQ Motors sets the price at $4,800, there will be 60 consumers who are willing to buy MC22020 Oc MQ Motors will need to raise the price up to $8,000 in order to maximise its profit Od. There are 59 consumers who are willing to pay more than $4,800 for MQ2020. Oe. The demand curve shows that points A and C are feasible options for MQ Motors.

What is the relationship between supply anddemand when a market is in equilibrium? Explainhow the incentives facing cell phone companiesand consumers cause the market for cell phones toreach equilibrium

Suppose the accompanying table contains data on how many Veggie Delite sandwiches Subway is willing to sell each day at two different prices. Calculate the daily price elasticity of supply when the price increases from $5.00 to $7.50. Please round to the nearest hundredth. Price(per sandwich) Quantity supplied(sandwiches per day) $5.00 200,000 $7.50 210,000 a. Daily price elasticity of supply for Veggie Delite sandwiches = b. The daily price elasticity of supply for Veggie Delite sandwiches is relatively Elastic or Inelastic Now consider how responsive Subway’s supply of Veggie Delite sandwiches is to changes in price on an annual basis instead of a daily basis. c. Compared to the daily value, the annual price elasticity of supply for Veggie Delite sandwiches is likely to be more Inelastic or Elastic  and the annual supply curve is likely Flatter or Steeper  to be than the daily supply curve.

Please helo me with this question There are 50 residents that live in a small town in California. Each resident uses electricity and there is one power station that produces electricity for the residents from coal. Each residents' demand for electricity is Q = 10 - 2P and the supply function for the power plant is Q = 150P. For each unit of electricity that the power station produces, there is a corresponding release of pollution that leads to asthma and other health problems for the 50 residents. The marginal damage of each unit of electricity produced, per person, is $.05. a. What is the market equilibrium price and quantity per unit of electricity? b. What is the efficient Pigouvian tax per unit of pollution? c. The government of this small California town decides to impose the efficient Pigouvian per unit tax on the power station. What is the new social optimum price and quantity per unit of electricity? d. What is the government tax revenue?  e. What is the gain in total…

Price 180 150 120- 90- 60- 30 04 5 10 Quantity 15 20 The figure above shows the demand curve. Which if the following represents the inverse demand equation? OQD = -12 P + 15 OP=-0.083 QD + 180 P= -12 QD + 180 QD = -0.083 P + 15 P= -12 QD + 15 QD = -12 P + 15 P=0.083 QD + 15 QD = -0.083 P + 180

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Price t y D1 D2 Quantity Prom tickets get very expensive, this would be indicated on the graph above by OA move from point y to point x, as a change in quantity demanded OA shift from D2 to D1, as a change in quantity demand OA shift from D2 to D1, as a change in demand O A move from point y to point x, as a change in demand

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Corn can be used to make tortilas or to make ethanol fuel for trucks and automobiles. Which of the following statements is incorect? O Increased production of com is likely to result in a higher price for both ethanal and tortillas. An increase in the price of ethanol is likely to resut in increased production of com Onereased demand for tortiles is likely to resut ina higher price for ethanol An increse in the price of ethanal liety to esut in an inose in the price of tortilas