One of the growers is excited by this advancement because now he can sell more crops, which he believes will increase revenue in this market. As an economics student, you can use elasticities to determine whether this change in price will lead to an increase or decrease in total revenue in this market. Using the midpoint method, the price elasticity of demand for soybeans between the prices of $15 and $9 per bushel is, which means demand is because total revenue will between these two points. Therefore, you would tell the grower that his claim is as a result of the technological advancement.
Q: Q. A country produces two goods: Food and cloth. Given the information below, please answers…
A: Capital constraint is a huge variable that mostly limits the improvement of little and medium-sized…
Q: Explain the capital adequacy ratio with complete formulaes and mention some of the elements…
A: Firstly I would like to mention that the BASEL norms are provided as per the RBI (central bank). The…
Q: How can Grammatical Signals help in the enhancing the coherence of problem-solution
A: There are other words like 'in addition' that may be used to introduce fresh concepts.
Q: Questions 6 & 7: A model for the Consumer Price Index (CPI) for the period July 2005 (t = 0) to…
A: Answer: (6). To find the inflation rate in November 2005 (t=4) the following formula will be used:…
Q: John's utility function is U(X,Y) = 5min{2x, 3Y}. If his income is 100, and the unit price of the…
A: The utility function with min shows that goods are complements which are consumed together
Q: A woman has purchased $150,000 worth of corporate bonds. The bonds expire in 20 years. And simple…
A: Given information: Bond value = $150000 Interest rate for 6 month period = 7%
Q: the development of a black market. the limitation of the volume of transactions. favoritism.
A: A scalper, with regards to showcase supply-demand hypothesis, likewise alludes to a huge amounts of…
Q: Consider an economy with two people who have the utility functions and initial endowments given…
A: Given information: U1=2X11+X12 U2=X21+2X22 Endowment W1=(1/2,1/2)
Q: 17. Which of the following regulations prevent price gouging? a) Price floors b) Price fixing c)…
A: 17. In an economy, price gouging refers to the situation when a seller charges a price much higher…
Q: A super typhoon greatly affected the mango farms in Philippines by making the mango crops taste…
A: Consumer surplus is the difference between the amount consumed is willing to spend and the amount…
Q: U.S Economy 2020 Investment Expenditure $ 2160 Personal Consumption $ 1390 Net Export $809 Nationals…
A: The Gross Domestic Product (GDP) of a nation/economy is the monetary worth of all final products and…
Q: what problem is posed by an intertemporal comparison of the market value of total output how can…
A: This comparison is a phrase used in economics. It is used to describe how present actions influence…
Q: consumption exports + - + selek wly b ob ou avocal to nude GDP
A: Gross domestic product is the total market value of goods and services produced domestically during…
Q: Mark Zuckerberg of Facebook and Elon Musk of Space X have taken risks to build to their businesses…
A: Tax is the compulsory payment made by private and institutions to the government without having any…
Q: The elasticity of demand is 1.1. Is the demand curve relatively steep or flat? Will a fall in price…
A: Change in total revenue depends on elasticity of demand .
Q: Choose a description that is the least appropriate description of a perfectly competitive market.…
A: A perfectly competitive market happens when all organizations sell indistinguishable items, a…
Q: Under what market structure does the University of Lethbridge operate. Please explain your answer…
A: Market refers to the place where the buyers or sellers sell and buy goods and services in the…
Q: Classifieds NURSES NO EXPERIENCE REQUIRED St. Bart's Hospital seek RN and LVN, with minimum two…
A: Eqm wage rate is determined by the intersection of dd(demand for labor) and ss(supply) of labor.…
Q: With respect to your knowledge of the economic impact of the coronavirus outbreak, explain how the…
A: Aggregate supply is an economy's gross domestic product (GDP), the total amount a nation produces…
Q: Let’s assume that a severe hurricane destroys many shrimp farms along the Gulf Coast of Louisiana.…
A: Here, it is given that the impact of a severe hurricane led to destroy many shrimp farms in the Gulf…
Q: Please answer fast please arjent help please
A: Total cost is the expenditure that is incurred in the production of goods and services. The total…
Q: Owner owns a pizza shop with a single employee. If employee works x hours, he can produce sqrt x…
A: total cost production includes fixed as well as variable cost . fixed cost are fixed irrespective at…
Q: The Gap between Imports and Exports is called as Question 5 options: Trade gap Trade…
A: Exports are the goods sold abroad by domestic producers and imports are the foreign produced goods…
Q: Identify and describe the economic benefit of warehousing which may leverage H&M's sales.
A: A warehouse may be defined as a place utilized for the storage or assemblage of goods. The process…
Q: ability of consumer to maximize utility is constrained by the amount they have to spend. And this is…
A: The idea that people and associations look to achieve the most significant level of fulfillment from…
Q: Let’s look at the market for sophisticated laptop computers. When income increases, the demand for…
A: At a marketplace, a good is an inferior good is its demand has inverse relationship with the income…
Q: The soft drink industry is dominated by TCCC and PSC. The market is worth $6 billion. Each firm…
A: Answer -
Q: If the currency-deposit ratio equals 0.33 and the reserve-deposit ratio equals 0.15, then the money…
A: 6. Given Currency-deposit ratio = 0.33 Reserve-deposit ratio = 0.15 = (0.33 + 1) / (0.33 + 0.15) =…
Q: resent TWO (2) arguments in support of Regional Economic Integration
A: The measure that depicts the removal or reduction of trade barriers along with the coordination of…
Q: he graph shows an equilibrium for reserves. in open market sale would shift the supply curve to the…
A: The reserve demand curve is downward sloping from left to right. The reserve supply curve is upside…
Q: 8. Mary Catacutan and Pedro Perez are considering the possibility of teaching swimming to kids…
A: Answer: Let us derive the cost function first for Mary and Pedro: Fixed cost FC=₱1,700Variable cost…
Q: PRICE (Dollars per pair) 8 289 28 229 200 160 100 140 120 100 60 40 20 0 Demand Tax Wedge Supply 400…
A: Elasticity is a monetary idea used to quantify the adjustment of the total amount requested of a…
Q: Suppose the inflation premium is 2 percent and the nominal interest rate is 1 percent. Instructions:…
A: Real interest rate refers to the nominal interest rate which is adjusted for inflation. Nominal…
Q: Everlast Containers, a small retailer of quality urns, sells its product for $180. If Everlast…
A: Here, given information is, Selling price: $180 Mark-up: 35% of cost To find: Firm's product cost…
Q: The paradox of savings discourages too much savings because it affects economic growth. However, the…
A: The paradox of savings The Paradox of savings refers to the savings level in an economy. This…
Q: Causes of lack of female pilots
A: As of 2020, just 7% of commercial pilots were women, according to the Center's data.
Q: 1. Consider a real return bond with a face value of $15,000 and a coupon yield of 5.2%. What is the…
A: The nominal or ostensible yield to be paid by the issuer on the bond at the time of issue is known…
Q: Assume demand for a particular product is given by p = 120 - q and firms produce with costs c(q) =…
A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…
Q: D. The marginal cost curve is always increasing due to the law of diminishing marginal returns. E.…
A: Statement D is true.
Q: There are three countries in the world: Country A, Country B, and Country C. These countries have…
A: Country A:- demand=DA=400-10PA supply=30PA Country B:- demand=DB=320-40PB supply=40PB Country C:-…
Q: Some economists and management scholars argue that statements such as "diversity is an economic…
A: Social responsibility and market forces should BOTH work to bring about a culturally diverse…
Q: Inflationary expectations in the economy increase rapidly, evoking a much stronger response from…
A: The demand curve for bonds shows the inverse relationship between the interest rate and the quantity…
Q: SummerFun, Inc. produces a variety of recreation and leisure products. The production manager has…
A: A thorough overview of a company's policies, objectives, and activities may be characterized as a…
Q: 7. Five equal deposits of $8000 will be made every 3 years starting next year at % per year…
A: To find the future worth at a given period firstly we find the effective annual interest rate -…
Q: 1. Corporate bond interest rates are a good measure of the interest rate facing firms planning…
A: Economic shocks and macroeconomic policy on income, real interest rates, and inflation may be…
Q: Product life cycle of IKEA products
A: The life cycle of a product is the time from the first presentation of a product to the customer…
Q: 1. The monthly rent for Theeben's apartment is $625. His landlord tells him that next year, the…
A: a. Theeben's new monthly rent using method 1. = $625+(625*6%)=$625+37.5=$662.5
Q: Q2: Continuing from Question 1: What will be the shape of the Phillips Curve because of the policy…
A: The Phillips curve shows that there is an inverse relationship between the inflation rate and the…
Q: Explain Federal Trade Commission (FTC)?
A: Consumers can easily submit a complaint with the FTC by calling their toll-free hotline. After…
Q: 1. when both supply and demand curve shift to right the equlibrium price always falls the…
A: Supply and Demand are the two most important tools in the economy onto which the whole Market…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Consider a market for solar energy panels as shown in the given graph. Due to a major breakthrough in terms of technological advancement in its manufacturing, the cost of production has gone down drastically. This causes the manufacturers of solar energy panels to shift their supply curve. Show the impact of this technological advancement on the supply curve of solar energy panels. Using the Line drawing tool, draw the new supply curve of solar energy panels. Carefully follow the instructions above and only draw the required object. What happens to the equilibrium price and quantity demanded after the supply curve of solar energy panels shifts? O A. Both price and quantity demanded increase. O B. Both price and quantity demanded decrease. O C. Price increases and quantity demanded decreases. O D. Price decreases and quantity demanded increases. Click the graph choose a tool in the palette and follow the instructions to create your graph Price of solar panels Graph Quantity of solar…Consider the market for pens. Suppose that the number of students with an allergy to pencil erasers increases, causing more students to switch from pencils to pens in school. Moreover, the price of ink, an important input in pen production, has dropped considerably. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. 10 1 0 2 Scenario 1 Equilibrium Object Price Quantity Supply True False Demand QUANTITY (Mons of pens) Next, complete the following graph, labeled Scenario 2, by shifting the supply and demand curves In the same way that you did on the Scenario 1 graph. Scenario 2 Supply Demand QUANTITY() '0 Demand 9 10 Scenario 1 Supply Demand (?) Supply Compare both the Scenario 1 and Scenario 2 graphs. Notice…Consider the market for pens. Suppose that increased medical concems over lead pencils have led schools to steer away from pendl use In favor of pens. Moreover, the price of ink, an important input in pen production, has increased considerably. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and SUpply of pens. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. Scenario 1 10 -0- 9 Supply Demand 8 Supply Demand 10 7 3 4 QUANTITY (MIllions of pens) 5 6 MacBook Air FIV F10 F7 吕0 F3 DO0 F4 F5 PRICE (Dollars per pen)
- Consider the market for pens. Suppose that the number of students who are allergic to the rubber used in pencil erasers increases, leading more students to switch from pencils to pens in school. Further, the price of ink, a major input in the pen production process, has dropped sharply. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. 0 1 1 Price 2 Quantity 2 Equilibrium Object Boenario 1 O True O False Supply G 7 QUANTITY (Millions of pens) Boenario 2 Demand Next, complete the following graph, labeled Scenario 2, by shifting the supply and demand curves in the same way that you did on the Scenario 1 graph. A Scenario 1 Supply 4 S 7 QUANTITY (Milions of pens) Demand D 10 Demand 10 Supply Compare both the…The figure depicts the market for shoes. Suppose that a less expensive material for making shoes is developed. What effect will this event have on supply and demand in the shoe market? Demonstrate your answer graphically. Instructions: Use the tool provided "New line" to draw either a new demand or supply curve that reflects the market effect of this event. Plot only the endpoints of the line. if a less expensive material developed, the- will-. This will cause the equilibrium price to- and the equilibrium- quantity to-Consider the market for pens. Suppose that new medical concerns regarding graphite absorption have put pressure on schools to reduce pencil use in favor of pens. Further, the price of plastic, a major input in the pen production process, has dropped sharply. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dollars per pen) 10 Supply 8 7 X Demand 5 6 7 8 9 10 2 3 QUANTITY (Millions of pens) 9 1 0 10 Scenario 1 0 1 Scenario 2 9 Supply 8 7 X Demand 2 0 1 2 3 4 5 6 7 8 9 10 QUANTITY (Millions of pens) 1 0 Next, complete the following graph, labeled Scenario 2, by shifting the supply and demand curves in the same way that you did on the Scenario 1 graph. Demand 0 Supply Demand Supply ?
- Consider the market for pens. Suppose that new research has been published stating that the process of writing, erasing, and rewriting improves memorization, leading parents to avoid giving their children pens in favor of pencils. Further, the price of plastic, a major input in the pen production process, has dropped sharply. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. image 1 image 2 Compare both the Scenario 1 and Scenario 2 graphs. Notice that after completing both graphs, you can now see a difference between them that wasn't apparent before the shifts because each graph indicates different magnitudes for the supply and demand shifts in the market for pens. Use the results of your…PLEASE MAKE A SUPPLY AND DEMAND GRAPH BASED ON THIS EXPLAINATION The high demand for onions in the Philippines combined with low supply has led to an increase in prices. The average monthly demand for onions in the country is around 17,000 metric tons but the current supply is not enough to meet the demand. This has resulted in a shift in the demand curve to the right and the supply curve to the left, causing the market equilibrium to move from point E to point F, resulting in an increase in both price and quantity. Reason of the shift: The price increase of onions in the Philippines can be attributed to several factors, including global inflation, failure of the agriculture department to make accurate supply projections, possible internal price manipulation, and a shortage of supply due to smuggling.es The graph below shows the market for oats. Price per bushel 12 11 10 9 8 10 432 S 4 0 10 50 70 100¹10120 30 90 80 60 40 20 Quantity per period (in millions of bushels) S Tools Sz Prev 4 of 8 # Next >
- Consider the market for pens. Suppose that the number of students who are allergic to the rubber used in pencil erasers increases, leading more students to switch from pencils to pens in school. Further, the price of ink, a major input in the pen production process, has increased sharply. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. 10 P 2 1 D 10 9 3 2 1 0 Next, complete the following graph, labeled Scenario 2, by shifting the supply and demand curves in the same way that you did on the Scenario 1 graph. 0 1 2 Scenario 1 3 Scenario 2 Supply Demand Supply 5 6 QUANTITY (Millions of pens) Equilibrium Object Price Quantity Demand 7 8 9 10 -o Demand Supply Scenario 1 (?) Demand Compare both the Scenario 1…Consider the market for pens. Suppose that a new educational study has proven that the practice of writing, erasing, and rewriting improves students' ability to process information, leading parents to steer away from pen use in favor of pencils. Moreover, the price of ink, an important input in pen production, has increased considerably. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens. (graph in photo 1) Next, complete the following graph, labeled Scenario 2, by shifting the supply and demand curves in the same way that you did on the Scenario 1 graph. (graph in photo 2) Compare both the Scenario 1 and Scenario 2 graphs. Notice that after completing both graphs, you can now see a difference between them that wasn't apparent before the shifts because each graph indicates different magnitudes for the supply and demand shifts in the market for pens. Use the results of your answers on…Consider the market for pens. Suppose that new research has been published stating that the process of writing, erasing, and rewriting Improves memorization, leading parents to avoid giving their children pens in favor of pencils. Further, the price of plastic, a major input in the pen production process, has increased sharply. On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back. to its original position, just drag it a little farther. 9 8 2 1 Scenario 1 Supply Demand 0 2 3 6 7 B 9 10 QUANTITY (Milions of pans) Demand } } Supply Next, complete the following graph, labeled Scenario 2, by shifting the supply and demand curves in the same way that you did on the Scenario I graph. Scenario 2 Supply Demand Demand 9 10 QUANTITY (Millions of pens) --- Supply Compare both…