I need help with the first three boxes plus graph 9. Market: Shorts this monthIncrease or Decrease:Scenario: Prices of shorts are expected to riseROTTEN:in the future.10. Market: Strawberries this monthIncrease or Decrease:Scenario: Prices of strawberries are expectedto fall next month.ROTTEN:D11. Market: Cereal marketIncrease or Decrease:Scenario: Grain prices are falling due tosurpluses.12. Market: Housing marketROTTEN:Increase or Decrease:P.Scenario: Wages paid to roofers andelectricians increaseROTTEN:13. Market: Flash drive marketIncrease or Decrease:PROTTEN:Scenario: Companies announce a new wave oftechnological innovations in flash drive production14. Market: Social Media advertising marketIncrease or Decrease:Scenario: A global computer virus shuts down ROTTEN:DO Focus73°F

The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Answered: 9. Market: Shorts this month Increase…

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 5CQQ

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What is the relationship between quantity Demanded and quantity supplied at equilibrium? What is the relationship when there is a shortage? What is the relationship when them is a surplus?
Skii resorts have an inelastic supply, and motorcycles have an clastic supply. Suppose that a rise in population doubles the demand toboth products (that is, the quantity demanded at each price is twice what it was) a.What happens to the equilibrium price and quantity in each market?b. Which product experiences a larger change in price?c. Which product experiences a larger change in quantity?d. What happens to total consumer spending on cach product?
7. Other things equal, which of the following would NOT shift the supply curvefor gasoline?a. a fall in the price of crude oil (from which gasoline isrefined).b. an increase in the price of gasoline.c. an improvement in refining techniques that allows more gasoline to be squeezed out of abarrel of crude oil.d. an increase in the wages paid to people working in oil refineries. 9. Any situation where quantity supplied does not equal quantity demanded indicates:a. a market equilibrium.b. a situation in which the actions of buyers do not match the actions ofsellers.c. a place where the laws of supply and demand do not hold.d. a point where quantity demanded is equal to quantity supplied. 10. Demand is said to be elastic ifa. the price of the good responds substantially to changes in demand.b. demand shifts substantially when income or the expected future price of the goodchanges. buyers do not respond much to changes in the price of the good.c. buyers respond substantially to changes in…
* Mind Tap - Cengage Learng ck here to access Mindtap E MINDTAP cer 3 S/D shifts ment: HWK 4 Chapter 3 S/D shifts Assignment Score: 0.00% Save Submit Assignment for Grading ns a2ec13r.03.084 Question 1 of 10 » An increase in the expected price of corn would likely do the following to the current supply and demand for corn: a. increase the demand, but decrease the supply. b. decrease both the demand and the supply. c. increase both the demand and the supply. d. increase the supply, but decrease the demand.
11. Equilibrium quantity will unambiguously decrease when A. demand decreases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease. В demand increases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease. demand decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease. D. С. demand increases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease. Е. None of the above
The market for pizza has the following demand andsupply schedules:Price Quantity Demanded Quantity Supplied$4 135 pizzas 26 pizzas5 104 536 81 817 68 988 53 1109 39 121a. Graph the demand and supply curves. What arethe equilibrium price and quantity in this market?b. If the actual price in this market were above theequilibrium price, what would drive the markettoward the equilibrium?c. If the actual price in this market were below theequilibrium price, what would drive the markettoward the equilibrium?
The equilibrium quantity of solar panels bought and sold in the market has stayed the same, but the price of solar panels has decreased, what must have been the case? Supply and demand both increased. Supply and demand both decreased. O There was an increase in demand and a decrease in supply. O There was an increase in supply and a decrease in demand.
Directions: Plot the following hypothe tical dem and schedule of pork and supply schedule of bangus in the market in a graphing paper and explain each graph. Price of Beef (Per Kilo) Quantity Demanded (In Kilos) P 150.00 P 140.00 90 100 P 100.00 130 6|Page P 75.00 150 P 60.00 170 P 40.00 200 Price of Bangus (Per Kilo) Quantity Supplied (In Thousands) P 120.00 P 100.00 P 90.00 P75.00 P 60.00 P 50.00 700 650 600 500 400 300
Suppose there is a soda tax to curb obesity. Whatshould a reduction in the soda tax do to the supply ofsodas and to the equilibrium price and quantity? Can youshow this graphically? Hint: Assume that the soda tax iscollected from the sellers.
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supply schedules: Graph the demand and supply What a. ed the curves. are equilibrium price and quantity in this market? b. If the actual price in this market were above the equilibrium price, what would drive the market toward the equilibrium? If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium? С.
2. Consider the market for station wagons. For each of the events listed below, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply is increased or decreased. a. People decide to have more children. b. The price of mini-vans rises. c. A strike by steelworkers raises steel prices. d. Engineers develop new automated machinery for the production of station wagons. A stock market crash lowers people's wealth. IMPORTANT: Now assume the changes in parts a. and c. happen simultaneously. Show them on the diagram and explain what will/may happen to the equilibrium price and quantity. e. f.

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