When foreigners' preferences for US goods fall: Drag and drop options on the right-hand side and submit. For keyboard navigation... SHOW MORE Aggregate demand changes? (yes/no) Aggregate supply changes? (yes/no) Real GDP (increase/decrease/ambiguous) Price level (increase/decrease/ambiguous) III III 1 III III III III III Increases Increases No Decreases Ambiguous Yes Decreases
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- A. What effect will each of the following have on the demand for product B? 1. Product B becomes more fashionable. 2. The price of substitute product C falls. 3. A decline in incomes if B is an inferior product. 4. Consumers anticipate the price of B will be lower in the near future. 5. The price of complementary product D falls. 6. Foreign tariff barriers on B are eliminated. B. What effect will each of the following have on the supply for product B? 1. A technological advance in the methods of producing B. 2. A decline in the number of firms in industry B. 3. An increase in the price of resources required in the produUction of B. 4. The expectation that the equilibrium price of B will be lower in the future than it is currently. 5. A decline in the price of product A, a good whose production requires substantially the same techniques as does the production of B. 6. The levying of a specific sales tax upon B. 7. The granting of a 50-cent per unit subsidy of B produced.When foreigners' preferences for US goods fall: Drag and drop options on the right-hand side and submit. For keyboard navigation. SHOW MORE V Increases Aggregate demand changes? (yes/no) Increases Aggregate supply changes? (yes/no) Real GDP (increase/decrease/ambiguous) No Price level (increase/decrease/ambiguous) Decreases Ambiguous Yes Decreases II II同 Kontrol paneli Site ana sayfası Takvim Nişanlar Tüm dersler Course dashboard Soru 18 Answer the following question according to the information given below: Henüz The following supply and demand functions belong to the wheat market in a country, where Qs = quantity supplied per week, Qd is quantity demanded per week, P = price. The currency of cevaplanmadı 4 üzerinden the country is TL. işaretlenmiş Based on the price elasticity of demand at the equilibrium point, a 2 % increase in equilibrium p Soruyu işaretle price causes a in quantity demanded. Lütfen birini seçin: O A. 1/200 % decrease O B. 2 % decrease O C. 20% decrease O D. 1% decrease O E. 0.5% decrease ÖNCEKİ SAYFA SONRAKİ SAYFA O Aramak için buraya yazın 目。
- Assume that Grainland currently produces wheat and does not trade wheat in international markets. (a) Draw a correctly labeled demand and supply graph for the domestic wheat market in Grainland. Label the equilibrium price, PePe, and the equilibrium quantity, QeQe. (b) Suppose the price of wheat in the world market is lower than the domestic price of wheat in Grainland. Assume now Grainland wants to trade wheat in the world market. (i) On your graph from part (a), label the world market price of wheat as PWPW, and identify the domestic quantity demanded of wheat at PWPW, as Q3Q3, and the domestic quantity supplied of wheat labeled as Q1Q1. (ii) Will Grainland export or import wheat? Explain. (c) With international trade in wheat, who will benefit in Grainland: domestic producers, domestic consumers, neither or both? Explain. (d) Suppose that the government of Grainland decides to provide a subsidy for wheat farmers to make the country more competitive and sell wheat at the world market…A decrease in the cost of petrol used to transport LED television sets from a harbour to Gauteng, is most likely to:A. decrease the demand for LED television sets in Gauteng.B. increase the supply of LED television sets in Gauteng.C. decrease the equilibrium quantity of LED television sets traded in Gauteng.D. decrease the quantity of LED television sets demanded in Mpumalanga.E. decrease the supply of LED television sets in Gauteng.LGlve Ust O Hint Question 15 of 24 Check Answer The table shows the demand and supply for cocoa beans in two countries: Cameroon and Nigeria. Use the information in the table to answer the questions. Price ($) per pound (lb) of cocoa beans Price ($/lb) Cameroon quantity Cameroon quantity Nigeria quantity Nigeria quantity demanded (lb) supplied (lb) demanded (lb) supplied (Ib) 180 500 155 210 200 460 180 180 6. 250 410 200 160 5. 4 280 360 220 140 320 320 240 125 3 350 280 260 115 What would be the equilibrium price and quantity in Cameroon and Nigeria if free trade existed between the two countries? lb I quantity demanded, Cameroon: price, Cameroon: lb quantity demanded, Nigeria: price, Nigeria: %24 %24
- # I am guessing, the price of imports will decrease is wrong.The annual demand for imported oranges is given by the following equation:QD = 600,000 − 30,000Pwhere P is the price per kilogram and QD is quantity of kilograms demanded per year.The supply of imported oranges is given by the equation:QS = 20,000P Calculate the following: ii. the amount of revenues collectedwhat happen imports when price level increase and decrease? Explanation
- Demand for cookies is of the following form: P=20-4QD, where QD is millions of cookies demanded per year and P is price in US dollars. Supply of cookies of the following form: P=6+Qs, where QS is millions of cookies supplied per year and P is price in US dollars. a. What is the equilibrium quantity of cookies traded? Solve the equation, showing your work. b. Graph the supply and demand curves, marking their intersection. Be sure to label intercepts, equilibrium, etc. c. The government imposes a tax of $2 per cookie on producers of cookies. What is the new equilibrium quantity of cookies traded? Solve the equation, showing your work. d. In a graph, show how the supply curve has shifted. What price do consumers now pay? After paying the tax, how much to producers receive.Suppose a decrease in the world demand for desktop computers causes the price of desktop computers to fall from $600 to $500. Before the fall in demand, Juna, a local computer dealer in Japan, used to produce 9,000 desktop computers and exported 50 percent of it to other countries every week. However, after the fall in demand, Juna reduced its production to 8,000 units and exports only 40 percent of its total output.a. What are the changes in the quantity sold to domestic consumersb. What are the changes in the consumer surplus?c. Sketch a diagram to illustrate the changes for Juna.Same question screenshot is attached Assume that Grainland currently produces wheat and does not trade wheat in international markets. (a) Draw a correctly labeled demand and supply graph for the domestic wheat market in Grainland. Label the equilibrium price, PePe, and the equilibrium quantity, QeQe. (b) Suppose the price of wheat in the world market is lower than the domestic price of wheat in Grainland. Assume now Grainland wants to trade wheat in the world market. (i) On your graph from part (a), label the world market price of wheat as PWPW, and identify the domestic quantity demanded of wheat at PWPW, as Q3Q3, and the domestic quantity supplied of wheat labeled as Q1Q1. (ii) Will Grainland export or import wheat? Explain. (c) With international trade in wheat, who will benefit in Grainland: domestic producers, domestic consumers, neither or both? Explain. (d) Suppose that the government of Grainland decides to provide a subsidy for wheat farmers to make the country more…