During a war, the government puts pressure on producers of military hardware, making their products more valuable. What theory about in does this represent? O cost-pull O cost-push O quantity O demand-pull
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During a war, the government puts pressure on producers of military hardware, making their products more valuable. What theory about in
does this represent?
O cost-pull
O cost-push
O quantity
O demand-pull
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- In the supply and demand model, what happens when regulations increase the cost of production? O Supply shifts to the left O Demand shifts to the right Supply shifts to the right Demand shifts to the leftIt is less important for firms that sell commodities to have a competitive advantage. O a. True, a competitive advantage is not useful for commodity firms because they are usually a monopoly with no competitors O b. True, the most important factor for commodity firms is lower prices O c. False O d. True, the most important factor for commodity firms is lower costs O e. True, the most important factors for commodity firms are both lower costs and lower pricesThe figure belov WS suppl i demand curves for bread. Spplyginal con 35 30 25 00 O 1 00 2000 1000 4000 so00 4000 7.000 LO00 R000 10000 Quantity of loaves Q You will not be given credit unless you provide a detailed explanation for the following questions! a) What are the equilibrium price and the equilibrium quantity in the bread market? How can you tell? Is there excess supply or excess demand in the bread market when the price of bread is 2.5 euros? Why? Explain how price, quantity demanded and quantity supplied will adjust to reach equilibrium when the price is b) 2.5 euros. Initially, the bread market is in equilibrium. Suppose that there is technological improvement in the production process of bread. Explain how supply and demand curves, equilibrium price and equilibrium quantity change as result.
- Two reasons for a government to intervene in a market are to Select one: O a. raise revenues and to promote stability O b. promote efficiency and to promote stability O c. promote equity and to promote stability O d. promote equity and to promote efficiencyK Figure 4.2.2 The Market for Robotic Rubber Ducks Price $40 $ 50 $ 60 $70 $ 80 $ 90 $100 Quantity Demanded OA 70,450 OB. 70: 350 OC. 50:450 OD. 50, 350 OE 60,400 500 450 400 350 300 250 200 Quantity Supplied 300 350 400 450 500 550 600 Look at Table 4.2.2. Consumers learn that rubber ducks wear out batteries quickly. As a result, demand decreases by 100 rubber ducks at each pnce. The new equum price nubber ducks the new equilibrium quantity is Tine Remaining 00:30-40 NestOn the supply and demand graph, suppliers willing to produce at the Osame; same O none of the above O lowest; highest O highest; lowest price are on the left and those only willing to produce at the price are to the right along the demand curve
- Daniel Patrick Moynihan, former senator from New York, once proposed a federal sales tax on ammunition as a way to achieve gun control without violating the second amendment to the U.S. constitution. How might Moynihan's proposal work? Select one: O a. By increasing the cost of a substitute, it would decrease the demand for guns. O b. By increasing the cost of producing a gun, it would decrease the supply of guns. O c. By increasing the cost of a complement, it would decrease the demand for guns. O d. By increasing the cost of using the gun, it would decrease the supply of guns. Check Previous page Next page MacBook Pro G Search or type URL 2$ & * 7 8 9 COWhich of the following results from a subsidy? Select one: O a. world output is increased O b. exports increase O c domestic production costs increase © d. imports increaseuse diagramsa. What is the effect on the equilibrium price and quantity traded in market of theintroduction of a new technology that reduces costs of production for all firms?b. What is the effect on the equilibrium price and quantity traded in a market of a changein tastes that reduces the demand for the product?c. What is the effect on the equilibrium price and quantity traded in a market of theimposition of a tax per unit sold on suppliers?d. What is the effect on the equilibrium price and quantity traded in a market of thepayment of a subsidy per unit sold paid to suppliers?
- A company is considering building a bridge across ariver. The bridge would cost $2 million to build andnothing to maintain. The following table shows thecompany’s anticipated demand over the lifetime ofthe bridge:Price per CrossingNumber of Crossings,in Thousands$8 07 1006 2005 3004 4003 5002 6001 7000 800a. If the company were to build the bridge, whatwould be its profit-maximizing price? Would thatlevel of output be efficient? Why or why not?b. If the company is interested in maximizing profit,should it build the bridge? What would be itsprofit or loss?c. If the government were to build the bridge, whatprice should it charge?d. Should the government build the bridge?Explain.When the holiday season arrives this year, people prefer to buy gifts online. Which graph depicts how the market of parcel delivery services change during this holiday season? O Graph B Price| Old supply New supply Demand Quantity O Graph C Price Old supply PALKING J New supply Graph C Price Graph A Price O Graph D Price Incorrect New demand New supply Old supply Demand Quantity New demand Supply Old demand Old demand Quantity Supply Old demand QuantityPrice and cost (dollars per ride) The graph shows the market for the two zipline firms that operate in a resort city. If the firms decide to compete, then together they will produce rides at a price of per ride. 60 O A. 400: $30 MC O B. 400; $50 50 O C. between 200 and 400: between $30 and $50 40 O D. 200: $30 O E. 200; $50 30 20 'D 10 MR 100 200 300 400 500 Quantity (number of rides)