Refer to the figure at right showing the market for olives. The loss of consumer surplus associated with the tariff shown will be $. (Round your response to the nearest dollar.) Price of Olives (S) Pwet! Pw 33 Market for Olives A SO }Ta 29 D 11₂ 20 24 Quantity of Olives (thousand units) Tariff …..
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- Based on this graph,Calculate the consumer surplus from 500 pairs of shoes?What is surplusThe following graph shows two known points (X and Y) on a demand curve for oranges. (?) 10 9 8 7 6 Y 5 X --* Demand 1 10 20 30 40 50 60 70 80 06 100 QUANTITY (Thousands of pounds of oranges) PRICE (Dollars per pound)
- a. The recent statement given in October 2020 by French President undermined the sentiments of the Muslims all around the world. The Muslims of Pakistan decided to record their protest by boycotting French products. A recent survey shows that the shunning of French products has bought about 35 percent decrease in the sales within a month. Suppose, in September 2020, the market for Garnier hair color a French product was at equilibrium with an equilibrium price 1050 and equilibrium quantity of 12,000 in Pakistan. Analyze the impact of a boycott on the demand of Garnier hair color for the month of October 2020 in Pakistan and illustrate it graphically. Also, explain why or why not the demand has changed? b. Consider a market for Tea a normal good in Karachi. You are supposed to analyze and discuss the effect on the equilibrium output and the price in the Tea market in Karachi for the October, 2020 after the following changes (Other things held constant). In each case, explain your answer…Use the following graph of the demand for American cheese to answer the question below: 55 Price (per pound) 3 2 0 D₂ •D, 2460 10 12 14 16 18 20 Quantity Demanded (thousands of pounds per week) Refer to the three demand curves for American cheese and assume that American cheese is an inferior good. Which of the following would shift the demand from D1 to D2: A decrease in consumer incomes An increase in consumer incomes A decrease in the price of American cheese An increase in the price of American cheeseCanned ssalmon is less desireable than other fish as incomes goes up what haapens to the supply demand curve?
- Market equlibrium price for strawberries is 5 dollar per kg if demand increase why would not 5 dollar per kg be the equilibrium price anymore draw a diagramplease draw the graph for question3, dont you respond me with chat gpt and dont give and writen solution Draw a correctly labelled demand and supply graph for the market for toilet paper in the US with an equilibrium price of $20 per pack: You should label your vertical axis as "Price" and the horizontal axis as "Quantity". Draw a downward-sloping demand curve and an upward-sloping supply curve. Label the point where they intersect as the equilibrium point, with a price of $20 per pack. During the pandemic, more people were buying toilet paper in fear that it would run out. On the same graph, show how this affects the market for toilet paper. Explain your answer: The increased fear would cause a shift to the right in the demand curve, indicating higher demand at each price level. This would move the equilibrium point up along the supply curve, indicating a higher price and quantity sold. Now impose a price ceiling at $15 per pack. What would be the impact of the price ceiling…Corn can be used to make tortilas or to make ethanol fuel for trucks and automobiles. Which of the following statements is incorect? O Increased production of com is likely to result in a higher price for both ethanal and tortillas. An increase in the price of ethanol is likely to resut in increased production of com Onereased demand for tortiles is likely to resut ina higher price for ethanol An increse in the price of ethanal liety to esut in an inose in the price of tortilas
- Find the consumers’ surplus and the producers’ surplus at the equilibriumprice level for the given price–demand and price–supply equations and draw the graph. (You may round all values to the nearest integer). p = D(x) = 185e-0.005x p = S(x) = 25e 0.005xCalculate the economic surplus in the market represented by the graph.The table below represents the market for DVDS. Quantity of DVDS Demanded (Millions) Price Quantity of DVDS Supplied (Millions) (S) $2 30 3 25 10 4 20 20 15 30 9. 10 40 50 8 60 The value of cansumer surplus is $ million. (Enter your response as an integer.)