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- Price AS Level 100 105 103 AD Real GDP 10t 20t 30t Considering the figure above, at what point does the equilibrium occur? Select one: a. The equilibrium point occurs at a price level of 105 and an output level of 20t. b. The equilibrium point occurs at a price level of 20t and an output level of 105. c. The equilibrium point occurs at a price level of 103 and an output level of 30t. d. The equilibrium point occurs at a price level of 30t and an output level of 105.draw an ADAS graph at equilibrium. Suppose there is widespread concern that prices will continue to rise in the future. Which curve will shift? draw the new equilibrium. Don't answer by pen paper and don't use AI bot othersSub : EconomicsPls answer very faast.I ll upvote. Thank You
- Consider the following data on Prices and Quantities of oranges and VCRs. From a. - k. 3 marks each An economy produces only two goods, oranges and VCRs. The quantities and prices for the years 1998 and 1999 are shown in the table. The bose year is 1998. 1998 1999 Oranges Price Quantity Price Quantity VCRs $2 5,000 $3 4,000 V.00 1,000 $300 2,000 a. Calculate the total value of goods and services at current prices in this economy in 1998. b. Calculate the total value of goods and services at current prices in this economy in 1999. c. Calculate the total value of goods and services at constant prices in this economy in 1998 d. Calculate the total valueDefine and draw price-consumption curve and Engel curve."Assume that the price of crisps rises while the equilibrium quantity falls. Explain in each of the following cases whether they are true, false or uncertain and argue with respect to the statement made: a. An increase in the price of onion rings (a substitute for potato crisps) b. A fall in the price of onion rings. c. An increase in the price of potato bread (production-side substitute for potato crisps). d. A fall in the price of potato bread.
- EOC 5.04 Which of the below would likely cause the equilibrium price of pencils to rise and the equilibrium quantity of pencils to fall? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The price of erasers rises (a complement in consumption). b The price of pens rise (a substitute in consumption). The price of lead rises (an input into pencils). d Consumers' income rises (assuming pens are a normal good).What is the ‘impact of a increase in the price of computer chips on the market for personal computers classify as? a. Micro, examining one individual b. Micro, examining one specific firm c. Micro, examining one sector of economy2. Rahim runs a fruit stand where he sells apples and mangoes. Each applecosts BDT 5.00 per piece and each mango costs BDT 8.00. The demand forapples and bananas are described by the following functions, where P a , andP m denotes the price of apples and bananas.Q m = 300-5P a + 3P mQ a = 3P a – 2.5P mWhat prices of mangos and apples Rahim should set in order to maximize profit?
- Again, please work with the following data set. It describes production of the only three goods made by Economy Zeta, along with their prices, for each of three years. Quantity Price of Quantity of Price of Quantity of Price of of Food Food Energy Energy Shelter Shelter 2018 800 $5 1000 $10 200 $100 2019 850 $6 1100 $12 240 $100 2020 850 $7 1200 $14 300 $100 Year Economists estimate that the average person in this economy consumes 12 units of food, 20 units of energy, and 2 units of shelter over the relevant period. 2018 is the base year. Using the GDP deflator, the inflation rate between 2018 and 2019 for this nation is ______________ percent. (Enter your answer "as a percent, but without the percentage sign." If you think the inflation rate is 99.99 percent, enter only 99.99 in the blank.)The income effect is a.the change in demand due to changes in real income due to a price change of the goodb.the change in demand of both goods due to changes in real income due to a price change of the goodc.the change in income due to changes in the demand for the goodd.observable but only after all the purchases have been made.Which of the following is equal to the derivative (or partial derivative) of some function in economics with respect to a certain variable? Select one: a. I don't know b. Marginal rate of technical substitution c. None of the others d. Marginal propensity to consume multiplier e. Marginal product of labour 1. Cross price elasticity of demand