What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell?   a. Price would rise, and the effect on quantity would be ambiguous.   b. Price would fall, and the effect on quantity would be ambiguous.   c. Quantity would fall, and the effect on price would be ambiguous.   d. Quantity would rise, and the effect on price would be ambiguous.

Suppose we are analyzing the market for Sweet "Halwa" .What will happen to the equilibrium price and quantity of sweet if the price of sugar rises a little during Ramadan and Eid al-Fitr? Select one: a. Price will stay exactly the same and Quantity will decrease b. Price will increase and the Quantity will decrease c. Quantity will stay exactly the same and the price will increase d. None of the answers are correct e. Price will increase and the Quantity will increase O f. Price will decrease and the Quantity will decrease

2. Explain what will be the result of cheaper sugar used in production of cakes at Bread Talks. What factor is this? Draw the graph and show the change. 3) Discuss the results of an increase in the price of crude oil for production of petroleum. Discuss how supply and price of petroleum will be changed? What factor is this? Draw the graph and show the change. Ⓒ If the price of chicken increases, discuss the changes in the market demand for beef. What factor is this? Draw the graph and show the change.

Suppose the supply curve increases, based on the model of supply and demand explain what happens to equilibrium price and equilibrium quantity.  Suppose the demand curve decreases, based on the model of supply and demand explain what happens to equilibrium price and equilibrium quantity.

Explain what it means when the supply of television sets rises. Explain what it means when the quantity supplied of television sets rises. Explain how the price of television sets could rise, and yet the supply of television sets not change.

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. i. News reports claim that the consumption of Ice Cream is good for the health of coronavirus patients. ii. There has been a decline in wages of all employees in Pakistan due to the third wave of coronavirus. iii. People in Pakistan decide to have more children. iv. Students of NED University develop new automated machinery for the production of Ice Cream. v. There has been a decrease in people’s income due to COVID-19 crisis.

If advances in PC production technology increased the supply of PCs sharply. The demand for PCs will increase, but not nearly as much as the supply did. As a result what will happen, will the price of a PC rise or fall and the quantity of PCs sold increase or decrease?

Which of these will shift the demand for coffee? Which will shift supply? What will be the effect on the equilibrium price and quantity? Draw graphs to illustrate your answer a. A new study announces unexpected health problems associated with coffee b. An unusually cold winter occurs in the US (temperatures unchanged in coffee producing countries) c. A new technique is developed that allows coffee to be produced more cheaply d. You win the lottery and have more disposable income e. The price of tea decreases f. Unionization of coffee workers raises wages paid by coffee growers.

Suppose that today the market for homes is in equilibrium. Tomorrow both the supply and demand curves for homes will shift to the right. As a result, the equilibrium price . ad the equilibrium quantity Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a will rise; cannot be determined b will fall; cannot be determined C cannot be determined; will rise d cannot be determine; will fall

Suppose that the consumers expect the price of phones to be $100 per unit next year. A news report comes out that claims phones will be only $50 per unit next year. Assuming there is no change in supply currently, which of the following will happen to the current equilibrium price and quantity of phones? a. Price of phones rises. Quantity of phones rises. b. Price of phones rises. Quantity of phones falls. c. Price of phones falls. Quantity of phones rises. d. Price of phones falls. Quantity of phones falls. e. Price of phones changes in an uncertain direction. Quantity of phones rises.