What happens to the prices of items like generators, fuel, plywood and ice during natural disasters? Explain. Should government impose price controls? If the controls keep the prices from rising, how will this affect the flow of these items into the disaster area? (SUPPLY AND DEMAND)
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What happens to the prices of items like generators, fuel, plywood and ice during natural disasters? Explain.
Should government impose price controls? If the controls keep the prices from rising, how will this affect the flow of these items into the disaster area?
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- IV. 2. The pandemic causes closure of some businesses due to prolonged lockdowns. This leads to more people being unemployed. What non-price determinants will affect the demand and in what way? How will it affect the country’s economy?(Figure: Market for Sustainable Furniture) Consider the market for furniture made from sustainable, man-made forests that is shown in the figure. The government wants to encourage buyers to buy such furniture and places a price ceiling of $250 on the market. The market quantity actually sold after the implementation of the price ceiling is thousand pieces of furniture. Price ($ per piece of furniture) $600 $350 $250 $100 300 500 Supply Demand 700 Quantity of furniture pieces (thousands)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?
- (3) A recent study found that the demand-and-supply schedules for Frisbees are as follows: a. What are the equilibrium price and quantity of Frisbees? (2)b. Frisbee manufacturers persuade the government that Frisbee production improvesscientists’ understanding of aerodynamics and thus is important for nationalsecurity. A concerned Diet members votes to impose a price floor $2 above theequilibrium price. What is the new market price? How many Frisbees are sold? (4)c. University students march on Tokyo and demand a reduction in the price ofFrisbees. An even more concerned Diet members votes to repeal the price floorand impose a price ceiling $1 below the former price floor. What is the newmarket price? How many Frisbees are sold? Price per Frisbee Quantity Demanded Quantity Supplied $11 1 million Frisbees 15 million Frisbees 10 2 12 9 4 9 8 6 6 7 8 3 6 10 1Required information Below is the total market demand and supply of wine for France and Germany. Quantities are in millions of litres per month. Total Market Quantity Quantity Quantity Quantity Quantity (per litre) Demanded Supplied DemandedSupplied Demanded Supplied France Germany Price Quantity $424 519 13 14 12 11 12 615 15 10 4 12 16 19 15 8 17 18 6 810 99 Refer to the information above to answer this question. Assuming no trade, what are the equilibrium price and quantity of wine in France? Multiple Choice $7 and 14. Next > 14 of 33 11 12 13 < PrevProvide examples and/or latest news or updates of the supply and demand in USA
- Define Supply and Demand Give examples supply and demand regarding the oil prices in the US.1 Market Change Demand Supply # 2 Market Change Demand Supply What is likely to happen to At the beginning of March, toilet paper became difficult to find in Almond Milk if the Price of Soy Milk rises. stores. Why? Why? #3 Market Change Demand Supply #4 Market Change Demand Supply Some TCSG Schools have During base realignment, the number of soldiers at military installations is changed. If there were an increase in soldiers at Fort masonry (bricklaying) programs. How would this affect housing markets in the area if such a program were Benning, how would this affect gas to come to CTC? markets? Why? Why? #S Market Change Demand Supply #6 Market Change Demand Supply Minimum wage rises. Recently, the price of pools rose in stores. Why? Why? #7 Market Change Demand Supply #8 Market Change Supply Demand Over the past few years, You start a coffee shop in the there have been increased Student Center at CTC. You notice tariffs on goods made that you sell about the same amount of coffee and…Exhibit: The Market for Chocolate-Covered Peanuts Price Quantity Supplied (per bag) (bags per month) (bags per month) 90¢ 80¢ 70¢ 60¢ 50¢ 40¢ 30¢ 80 Ⓒ60 Quantity Demanded 40 30 70 105 140 175 210 245 280 280 245 210 175 A shortage of 210 bags of chocolate-covered peanuts exists if the price is cents per bag. 140 105 70
- (Figure: Market for Pesticides) In the market for pesticides shown here, the original equilibrium price is $25. In an effort to reduce the usage of pesticides, a tax is then placed on the buyers in this market. Who bears the statutory burden of this tax? Price $30 $27 $25 $19 $10 the seller 9,000 15,000 the government the buyer the people who make the law on taxes Supply Old demand New demand QuantityGiven the following data on individual gasoline supply and demand, calculate the market supply and demand, and then answer two questions. Instructions: Enter your responses as a whole number. Price per Gallon $5 Quantity Demanded (Gallons per Day) $4 $3 $2 Al Betsy Casey Daisy Eddie Market Total 1 0 2 1 3 1 2 2 3 1 1 3 4 2 W N 4 1 3 4 3 $1 5 2 4 6 5 Price per Gallon Quantity Supplied (Gallons per Day) $5 $4 $3 $2 $1 Firm A Firm B Firm C Firm D Firm E Market Total 3 3 2 7 5 3 6 4 3 6 5 3 4 2 2 2 W N 3 1 2 1 3 2 0 2 1 a. What is the equilibrium price? $ per gallon b. Suppose the current price is $4. At this price, how much of a shortage or surplus exists? There would be a (Click to select) of gallons per day.France Germany Total Market PriceQuantity Quantity Quantity Quantity Quantity Quantity (per litre) Demanded Supplied DemandedSupplied Demanded Supplied 12 11 10 19 8 17 $424 519 615 712 810 99 13 12 14 15 4 16 17 15 6 18 17 Refer to the information above to answer this question. Assume that France and Germany enter into a free trade agreement (and there are no extra transportation costs, etc.) what are the equilibrium price and quantity of wine?
