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- 1. Which of the following variables does not directly impact the quantity of a good the firm is willing to produce? a. the price of the good b. the income level of the people who buy the good c. the number of firms producing the good d. the cost of a key input used to produce the goodQUESTION 22 The value of land (as distinct from human improvements to landi is created by nature and society. In adoltion, the supply of land is perfectly inelastic. I am a strong advocate of raising taxes on land and other natural resourcee, but also reducing taxes on human improvements (eg. buildings). Which of the feloning statements about shiting taxes from buidrgs to land is FALSE? -The supply of buildings would increase, especially where land values are high None of the land lax inerease woud be pased on to reriers The tax shilt would reduce speculation in land The tax shift would create a dead weight loss of economic surplus The tax ehift should reduce urban sprawlIV. 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?
- 10. If unskilled domestic workers and unskilled foreign workers are substitutes in the production process, then a more open foreign worker policy is likely to result in all of the following except: (A). The total supply of unskilled labor will shift outward.(B). The equilibrium wage rate in the market will decrease.(C). The total workforce will increase(D). The level of wages received by domestic workers will decrease.(E). The labor demand curve will shift to the right. Choose one of the answers from the five choices provided. And please, also provide a brief description, explanation or argument for your choice. Thank you Bartleby!Question: The supply and demand for 9-volt batteries are given by QD = 230 - 10P and QS = 30P-10, where P is the price per four-pack and Q measures the number of four-packs. a. Wh... The supply and demand for 9-volt batteries are given by QD=230-10P and QS = 30P-10, where P is the price per four-pack and Q measures the number of four-packs. a. What are the levels of consumer and producer surplus at the equilibrium price? b. Suppose that a hurricane causes widespread blackouts, shifting the demand curve for 9-volt batteries outward, with the new demand curve equal to QD=690-10P. If the government sets a price ceiling equal to the pre-hurricane price (the old equilibrium price), what is the level of consumer surplus? c. If the government did not impose the price ceiling, what would consumer surplus equal? Are consumers better off with the price ceiling?2. How would each of the following be expected to affect the price and quantity sold of potatoes? Illustrate using supply and demand diagrams: a. A new medical study that says eating potatoes is unhealthy. b. A steep rise in the price of rice, a potato substitute. c. An agricultural breakthrough that increases the productivity of potato farming. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure
- Which market determinants deal to represent the effective demand? a. Demographic variables b. Technological variables c. Purchasing prosperity d. Economic variablesDiscuss how the demand and supply for a particular product/s have changed in the last 2-3 years. Discuss the product, and how one or a few of its determinants of demand and supply has changed in the last few years. You can use a diagram to illustrate your response. Also, discuss how the price of that product and the equilibrium quantity has changed due to changes in the demand and supply for that product.Question 4 A technological improvement in apple production will: A. Increase the demand for apples, lowering the equilibrium price but raising the equilibrium quantity of apples. OB. Increase the supply apples, raising the equilibrium price and quantity of apples. OC. Increase the supply of apples, raising the equilibrium price but lowering the equilibrium quantity of apples. OD. Increase the supply of apples, lowering the equilibrium price but raising the equilibrium quantity of apples. OE. Increase the supply of apples, lowering the equilibrium price and quantity of apples. Share Screen #3 A Moving to the next question prevents changes to this answer. Zoom Meeting E D C $ 4 R F V % 5 JUL 18 tv T G ^ 6 MacBook Pro B Y & 7 H Leave U N * 00 8 J A Ⓒ Nc 9 ✓ K M
- (ii) Demonstrate and discuss each of the following would have on demand or supply ofcoffee. Additionally, show how equilibrium price and quantity have changed.a. A better method of harvesting coffee beans is introduced.b. Medical researchers found that intake of more than two cups of coffee per daydrastically decreases risk of liver cancer.c. Currently, the price of coffee is ₹15 per cup above equilibrium.d. Consumer income falls because of a recession and coffee is considered anormal good.e. . Protesting liberal milk powder import policy, farmers dump millions of litresof milk, causing milk prices to rise.(J) please answer asap.... For what products is the Law of Demand true? a. for luxuries but not for necessities b. for all products as long as everything else remains constant c. for products with elastic demand but not for products with inelastic demand d. for products in a market economic system but not for products in a command economic system1) You are the admissions director at the University of Georgia. You know there is high demand for you product. However, you only have to space for a certain number of students. USE Microeconomics KEY TERMS like (economics, exports, command, fiscal policy, macroeconomics, scarcity, traditional economy, etc) to explain why you would (or would not) increase the price of attendance. 2) You are the admission director at Georgia State College. How do you convince graduating high school seniors to attend your college, instead of the University of Georgia. USE the KEY TERMS in the economics.