5 C) Illustrate using a diagram the effect of excess demand and excess supply to equilibrium price and quantity. D) During worldwide pandemic many of the sectors are striving, there some sectors that growing. Discuss.
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- IV. APPLICATION 2. A recent typhoon hit the Philippines where most of the raw materials are produced. What non-price determinants will affect the supply and in what way? How will it affect the country’s economy?Suppose government has been able to reduce the level of tobacco consumption in the country through a social campaign. a) Properly labeling the axes, draw a figure showing the current supply of and demand for tobacco and equilibrium price and quantity demanded and supplied. b) Provide a brief explanation about new equilibrium price1. Using demand and supply analysis, illustrate how each of the following scenarios would affect the equilibrium price and quantity in the respective markets. The use of carefully labelled diagrams is required with an explanation. a. The introduction of a new technology reduces the cost of production for all firms in the computer market. b. A strong advertising campaign has caused the consumer to demand more Pepsi at every existing price. c. The passage of Dorian a category 5 hurricane destroys fifty percent of the carrot crop.
- Question: Consider a market for Ice Cream an inferior good in Pakistan. For each of the given events, identify which of the determinants of the demand or supply are affected. Also indicate whether demand or supply increase or decreases. Then draw a diagram to show the effect on the price and quantity of Ice Cream. 1) News reports claim that the consumption of Ice Cream is good for the health of coronavirus patients. 2) There has been a decline in wages of all employees in Pakistan due to the third wave of coronavirus. 3) People in Pakistan decide to have more children. 4) Students of NED University develop new automated machinery for the production of Ice Cream. 5. There has been a decrease in people’s income due to COVID-19 crisis. (1. identify which of the determinants of the demand or supply are affected. Also indicate whether demand or supply increase or decreases of each. 2. Then draw a diagram to show the effect on the price and quantity of Ice Cream of each.)What do we mean by talking about "Demand for one product" and "Supply of one product"? Could you discuss the impact of Covid-19 crisis for (people's lives) the demand and supply of retail businesses in Cambodia?Requirement: Use Microsoft Word in answering and PROBLEM SOLVING: 1. The following table gives the daily supply and demand for hot dogs at a sporting event: Price, S Quantity supplied 7,200 Quantity demanded 2.10 800 1.80 1,600 4,800 1.60 2,400 2,400 1.40 3,200 80 1.20 4,100 200 A. What is the equilibrium price of hot dogs? What makes you think so? B. If the organizers of the sporting event decide to set the price at 1.80, how many hot dogs will be sold? Explain your answer V Originality reports available
- Question: A survey indicated that chocolate is Americans' favorite ice cream flavor. For each of the following, indicate the possible effects on demand, supply as well as equilibrium price and quantity of chocolate ice cream. a. A severe drought in the Midwest causes dairy farmers to reduce the number of milk-producing cattle in their herds by a third. These dairy farmers supply cream that is used to manufacture chocolate ice cream. b. A new report by the American Medical Association reveals that chocolate does, in fact, have significant health benefits. c. The discovery of cheaper synthetic vanilla flavoring lowers the price of vanilla ice cream. d. New technology for mixing and freezing ice cream lowers manufacturers' costs of producing chocolate ice cream.Analyse the problems carefully. Answer the problems and present your solutions. Interpret the results. 1) If there are 10 bottles of water and there are 20 students who want to drink these bottles of water, there will be only 10 students whose demands are met while the others will not. Analysis: We can conclude that there is _____________ in the supply.Activity 2 Direction: Using the graph below as basis answer the following questions in the space provided. Equilibrium for Bagels 1. What is the equilibrium price 4.50 - and quantity? 4.00 - 2. If price increases to 3, how many bagels are demanded per month? 3.50 - 3.00 At price 3, what is the situation of the economy for bagels industry? 3. 2.50 2.00- If the economy is experiencing a shortage in bagels what can suppliers do to the price to bring it back to equilibrium? 4. 1.50 - 1.00- 0.50 - At price 1 and with quantity demanded of 14 and quantity supplied of 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2, what is the situation of the economy? 5. 0.00 Quantity (thousands of dozens per month) Price per dozen bagels D.
- COVID-19 lockdowns caused demand for gas to decrease and therefore oil prices plummeted. In response, Russia and Saudi Arabia cut production by 9.7M barrels per day. How did the global oil market change? It caused a movement up along the supply curve. Supply shifted to the right O It caused a movement down along the supply curve. Supply shifted to the leftAutoSave O Off Activity-2-Market-Equilibrium-Worksheet (1) - Protected View - Saved Search camille ignacio CI File Home Insert Design Layout References Mailings Review View Help Grammarly A Share O Comments DIRECTIONS: (Use a Separate sheet of Graphing paper for the graph, and poperly labelled all details) In the diagram to the right, plot the following hypothetical supply and demand information for 1. Price 3000 2500 Quantity Supplied (Qs - millions) Quantity Price Demanded 2000 (Php) (Qd - millions) 1500 2 3,000 17 4 2,500 16 1000 7 2,000 14 500 11 1,500 11 16 1,000 7 16 20 24 Personal computers (millions) 4 8 12 22 500 2 personal computers (PCs): Text Predictions: On O Focus Page 1 of 2 194 words + 145% 11:03 am Ps L ) ENG 25/05/20216) Dodger Baseball!!!! : The Dodgers will host the 2020 MLB All Star Game! Fans are ECSTATIC. Also, the Dodgers will expand seating by 10,000 in the CF Pavilion area. How will that shift the supply and demand curves for Dodger tickets? a. Graph the situation with price of Dodger tickets and quantity of Dodger tickets. Use BLACK for supply, BLUE for demand. Label supply as Sj and S2 and demand as Di and D2. b. Using your knowledge of the laws of supply and demand, explain the shift(s) that have been made in your graph and describe what happened to the equilibrium price and quantity (3-4 bullet points). Make sure to include the either the 8 determinants of demand or 5 determinants of supply. Label the equilibrium points CLEARLY! c. Add a picture of the Dodgers.