B. Give three examples of each classification. 6. Complementary product a. Coffee and sugar (example) b. C. 7. Competing products a. b. C. 8. Normal Products ن ف م نه a. b. C.
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- 1. Plot the supply curve from the supply schedule information provided. Price Quantity Supply (Qs) 1 0 2 3 3 4 4 5 5 6 (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What happens if other determinants change? 2. Plot the demand curve from the demand schedule information provided. Price Quantity Demanded (QD) 1 9 2 6 3 4 4 3 5 2 (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What else do you think will happen? (e) What happens if other determinants change?10. If supply changes from S2 to S1 and demand changes from D1 to D2 (a) equilibrium price falls to $ 14. (b) equilibrium quantity increases to 16. (c) equilibrium price increases to $19. (d) supply has increased. 11. if demand changed from D1 to D2 as a result of an increase in buyers' income this product is (a) a normal good. (b) a free good. (c) an inferior good. (d) a complementary good. 12. If demand for this product changed from D2 to D1 as a result of a increase in price of a related product, then these two products are (a) complements. (b) inferior goods. (c) economic goods. (d) substitutes. (e) public goods.a. a normal good; positive b. an inferior good; positive c. an inferior good; negative d. a normal good, negative
- Plot the supply curve from the supply schedule information provided. Price Quantity Supply (Qs) 1 0 2 3 3 4 4 5 5 6 (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What happens if other determinants change? Question 2 - Learning Activity 4.2 Plot the demand curve from the demand schedule information provided. Price Quantity Demanded (QD) 1 9 2 6 3 4 4 3 5 2 (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What else do you think will happen? (e) What happens if other determinants change?Plot the supply curve from the supply schedule information provided. Price Quantity Supply (Qs) 1 0 2 3 3 4 4 5 5 6 (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What happens if other determinants change? Question 2 - Learning Activity 4.2 Plot the demand curve from the demand schedule information provided. Price Quantity Demanded (Qd) 1 9 2 6 3 4 4 3 5 2 (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What else do you think will happen? (e) What happens if other determinants change? Question 1 - Learning Activity 4.4 Consider the market for minivans. Indicate the impact if any on demand, supply, price and quantity: (a) People decide to have more children. (b) A strike by steelworkers raises steel prices. (c) Engineers develop new automated…SUAL 6. 40 Diet Coke, Diet Coke with Splenda, Coke Zero, Diet Coke with Lemon, Diet Coke with Lime, Diet Vanilla Coke are examples of man CAVAB a product line. a product mix. specialty services. specialty goods. Əvwalki Növbəti Bütün suallar Qeyd olunanlar Cari Vəziyyət 15:01 82*F Sunny C 4) AZE 18.06.2 TOSHIBA
- 2. Freihofer's bread is a normal good produced by the Freihofer Bakery. Using clearly labeled Demand and Supply curves, show what will happen to the equilibrium price and quantity of Freihofer's bread in each of the following situations? (a) Due to an expansion, households that buy Freihofer's bread experience an increase in income. (b) (c) (d) (e) (f) The cost of wheat used in Freihofer's bread increases significantly. Freihofer Bakery buys improved ovens that reduce the costs of Freihofer's bread. Lovely Loaf, a rival, increases the price of its bread. Consumers become health conscious and switch to low-calorie breads. Situations (a) and (b) occur at the same time.Price Panel (a) Panel (b) Z D₁ Quantity Quantity Panel (c) Panel (d) XX Quantity Quantity Figure 3 a. Refer to Figure 3. Assume that the graphs in this figure represent the demand and supply curves for women's clothing. Which panel best describes what happens in this market when the wages of seamstresses rise? b. Refer to Figure 3. Assume that the graphs in this figure represent the demand and supply curves for almonds. Which panel best describes what happens in this market when there is an increase in the productivity of almond harvesters? c. Refer to Figure 3. Assume that the graphs in this figure represent the demand and supply curves for Fruitopia, a soft drink. Which panel describes what happens in the market for Fruitopia when the price of Snapple, a substitute product, decreases? d. Refer to Figure 3. Assume that the graphs in this figure represent the demand and supply curves for potatoes and that steak and potatoes are complements. What panel describes what happens in this…(9) What determines the utility an individual receives from consuming a good? Select one: a. The individual’s own preferences. b. The demand and supply curves for that good. c. The producers conducting customer feedback surveys of that good and the feedback provided. (10) Denzel bought headphones two months ago, Solo2 Beats by Dre, for $130. He gives them to his little brother and goes online to buy another for himself but they are now $160. What is the percentage change in the headphone’s price? Select one: a. 23% b. 30% c. 21%
- 1. List 10 new market demand that people need in their lifestyle.Demand for jewelry increases when our income increases because they are _________. a. Substitute products b. Inferior products c. Normal products d. Complementary products17. Evaluate the truthfulness of the following statements:I. The Engel curve for a normal good is upward sloping.II. The Engel curve for an inferior good is downward sloping.(a) Both I and II are false.(b) Both I and II are true.(c) I is true; II is false.(d) I is false; II is true.