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What are the example of the following:
1. Increase in Demand
2. Increase in quantity demand
3. Increase in supply
4. Increase in quantity supplied
5. IMarket equilibrium for healthcare
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- if there is a decrease incomes of consumers,demand for head&shoulder shampoos will increase. True or False?A life-saving medicine without any close substitutes will tend to have a. a small elasticity of demand. b. a large elasticity of demand. c. a small elasticity of supply. d. a large elasticity of supply.A life-saving medicine without any close substitutes will tend to have a. a small elasticity of demand. b. a large elasticity of demand. c. a small elasticity of supply. d. a large elasticity of supply.
- Higher average incomes increase the demand for preventive dental visits. Explain why this will lead the quantity supplied of dental visits to increase, but supply will not increase.What will happen to the demand for ginger if scientific research proves that ginger helps to reduce diabetes.What are the factors affecting the demand for digital cameras?
- Which of the following would NOT change demand? * a)information about the product's health effects b)the price of related products c)the income of the consumers d)the price of the product4. Answer Exercise No. 3 on page 69. Answer only Exercise No. 4 once you have read Lesson 3, pages 71-74. Assessment 3.2 1. What does an upward-sloping supply curve mean about how sellers in a market will react to a lower price? 2. What is the difference between the supply and the quantity supplied of a product, say face shields? Explain in words and show the difference on a graph with a supply curve for face shields. 3. Will supply curves have the same exact shape in all markets? If not, how will they differ? 4. Explain and give example of at least 2 determinants of supply? 5. Explain and give example of at least 2 determinants of elasticity of supply? Instructions on how to submit student output Follow the instruction from Module 1, Lesson 1.1 (Assessment 1.1). You will submit your output together for Modules 1 and 2 Page 68of 97 Vision: A globally competitive university for science, technology, and environmentalconservation. Development of a highly competitive human resource,…Read this article, paying particular attention to the first 3 paragraphs. The following excerpt describes some of the changes that have occurred in the used car market. The market is the Used Car Market. “With production of many new-vehicle lines being slowed or halted by the current microchip shortage, a lack of supply has sent more U.S. consumers (even rental companies) to the used-car market. In turn, the upsurge in demand along with a short supply of product to sell (fewer new models sold means fewer trade-ins winding up on used-vehicle lots) has caused prices to skyrocket literally across the board.” First, “With production of many new-vehicle lines being slowed or halted by the current microchip shortage, a lack of supply has sent more U.S. consumers (even rental companies) to the used-car market.” Is this a demand or supply issue for used cars? (please answer) Will this increase or decrease it? (please answer) Please draw a graph (below) to show the change and the effects on…
- Use the following information to calculate the elasticity of demand for primary care visits: initially a clinic visit cost $25 per visit and the clinic saw approximately 60 people per day. The clinic decided to raise price to $35 per visit and the number of people using the clinic fell to 50 people per day. Calculate the price elasticity of demand and indicate whether increasing the price was a good business decision.what are Factors affecting the demand of gasolineYour Best Brand Bike Shorts - BBB Shorts have been flying off the shelf. Your chief economist tells you that during the Covid-19 pandemic, "the taste for bicycling has changed. The price elasticity of demand is much more inelastic. The price elasticity of demand has decreased from -5.76 to -2.70." Before the campaign, your price was $240 per pair of BBB Shorts. What should the new price be? Please enter the new price here: $ [a] Show only your answer in the box. Do not include steps in the calculation and do not include the dollar sign.