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- b. The market for St. Louis Rams cotton T-shirts Case 1: The Rams win the Super Bowl. Case 2: The price of cotton increases. c. The market for bagels Case 1: People realize how fattening bagels are. Case 2: People have less time to make themselves a cooked breakfast. d. The market for the Krugman and Wells economics textbook Case 1: Your professor makes it required reading for all of his or her students. Case 2: Printing costs for textbooks are lowered by the use of synthetic paper.1. This pandemic, the prices for vegetables in a certain place has went down. Many people went to the market to buy vegetables but they ended up failed because they werent able to buy their needs. The prices of the vegetables are 40,50,60,80,90 and the amount of vegetables at the market ranges from 100,120,140,160,180. Explain how the changes occur using a grahical illustration or interaction of demand curve and supply curve. 2. Is the quantity demanded risen and the quantity supply decrease?Saved Refer to the table below containing the market demand schedule for canoes. Price ($ per canoe) Quantity Demanded (canoes per month) $800 250 700 300 600 350 ok 500 400 nt a. Draw a graph showing the demand curve D. Plot only the endpoints of the curve, 2 points in total, in the graph below. ences Demand for Canoes 900 Tools 800 Demand 700 600 500 400 250 300 200 50 150 350 450 100 400 500 OuantituInaneee nor manth) Mc Graw Hill MacBook Air 888 DII F1 F2 F3 F4 F5 F6 F7 F8 F9 @ 23 $ % & 2 3 4 6. 7 8. E Y w/ Price ($ per canoe)
- opbox Format Tools Add-ons Help Last edit was seconds ago BIUA 三三三三 1三ニ Normal text Calibri 11 1. 3 4 6 I 7r Demand Shifters: 5-14 The Demand for Beef. For each scenario draw a general demand curve and label it D. Then shift the curve to the left or the right depending on what will happen to the demand for beef. Draw an arrow showing direction and label your new curve D1. Then tell me the determinant of demand that shifted the curve. For example, consumer income increases or population decreases. Hint: There is one that is a change in quantity demanded and the curve will not shift, there will just be movement along the curve. 5. Millions of immigrants swell to U.S. population 6. Pork prices drop 7. Surgeon general warns that eating beef can be hazardous to health prd 8. Take home pay for Americans drops 3 month in a row 2.The graph below shows the demand for electricity in England during typical days in winter and summer. The pie chart shows how electricity is used in an average English home. Summarise the information by selecting and reporting the main features and make comparisons where relevant. Figure 1 Typical Daily Demand of Electricity 50000 40000 30000 Winter Summer 20000 10000 o hrs 3 6. 12 15 18 21 24 Different hours of a day Figure 2 What the electricity is used for I Heating room, Heating 15% water 15% 1Ovens, Kett les, Washing 52% Machines 18% ILighting, TV, Radio Vacuum cle ane rs, Food m ixers, Electric too ls Units of Eectricity100 80 60 40 20 40 80 120 160 200 Refer to the diagram. The equation that shows the relationship between Y and x is OAy= 50 + 4X OB.X = %Y. OCy=X-50. OD.y = 4X. QUESTION 26 In the market for T shirts, the Milwaukee Bucks win the NBA which of the following is most likely to happen? O A. The demand curve for Milwaukee Ducks' T shirts will shift to the left O E. The supply curve for Milwaukee Bucks' T shiris will shift to the right OL The supply curve for Milwaukee Bucks'T shirts will shift to the left O D. The demand curve for Milwaukee Ducks' T shirts will shift to the right QUESTION 27 Consider the following data for a hypothetical economy: Year Real GDP Population $5000 billion 200 million 2 $6000 billion 250 million What is the economic growth rate for GDP per capita for this economy for year 2? OA 20% OB. 20% OC 49% O D. 4%
- 53. Table 3.8 shows information on the demand and supply for bicycles, where the quantities of bicycles are measured in thousands. Price Qd Qs $120 50 36 $150 40 40 $180 32 48 $210 28 56 $240 24 70 Table 3.8 a. What is the quantity demanded and the quantity supplied at a price of $210? b. At what price is the quantity supplied equal to 48,000? c. Graph the demand and supply curve for bicycles. How can you determine the equilibrium price and quantity from the graph? How can you determine the equilibrium price and quantity from the table? What are the equilibrium price and equilibrium quantity? d. If the price was $120, what would the quantities demanded and supplied be? Would a shortage or surplus exist? If so, how large would the shortage or surplus be?help me tutors (choose answer correctly) not neccessarily to explan. 1. Evaluate the movement from point A to point B on the graph shows. a. decrease in demand. b. decrease in quantity demanded.c. an increase in quantity demanded.d. an increase in demand. 2. According to the graph, what are equilibrium price and quantity. a. $7, 20 b. $5, 40c. $7, 60 d. $3, 601.Graph what happens with the demand for: a. Icy popsicles in hot season b. Icy popsicles in winter c. Fans in winter d. Fans in hot land e. Textbooks at the beginning of the school year f. Textbooks on vacation 2. It is available the following demand equation QD = 12-2P; Graph the demand curve 3. Graph the demand for ice cream P = 800 - 2QD 4. The demand for travel for a person is Qd = 25-5P1 Find the demand curve for the individual 2. At what price is the quantity demanded zero
- WEXFORDZ diagram, draw 2. In a supply and demand the shift bf'the demand curve for hamburgers in following events. In each case, effect on hometown due to the your equili brium price 'and quantity d In come falls in town. Assume hamburgers are for möst people. that an inferior good e Hot doa stands cut the price of hot dogs.2. Does a change in producers' technology lead to a movement along the supply curve or a shift in the supply curve? Does a change in price lead to a movement along the supply curve or a shift in the supply curve? 3. The market for pizza has the following demand and supply schedules: Price S Demand Supply 4 135 26 5 104 53 81 81 7 68 98 8 53 | 110 39 121 a. Graph the demand and supply curves. What is the equilibrium price and quantity in this market? b. If the actual price in this market were above the equilibrium price, what would drive the market toward the equilibrium? c. If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium?2. Imagine a minivan market. For each scenario below, explain what determinants of demand and supply will be affected. Then determine whether demand or supply increases or decreases. Then draw a diagram to show the effect on the minivan price and quantity. a. The community decided to have more children. b. Steel industry workers strike to raise steel prices. c. Engineers make automatic machines to manufacture minivans. d. The price of sports utility vehicles (SUV) increases.