Question 1

-In the figure above,what is the equilibrium price and quantity?

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-In the figure above,what is the equilibrium...

Question 2

Smart phones are becoming less expensive as new technology reduces the cost of production.In a supply and demand model,explain the effects of the technological innovations and their effect on the quantity of smart phones.

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Question 3

What is the effect on the price and quantity of a product if the demand decreases and the supply simultaneously increases?

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Question 4

-In the figure above,if the price is $8 a unit,is there a shortage or surplus and what is the amount of any shortage or surplus?

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-In the figure above,if the price is...

Question 5

-The above table gives the demand and supply schedules for cat food.What is the equilibrium price and quantity?

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-The above table gives the demand and...

Question 6

-The above table gives the demand and supply schedules for cat food.If the supply increases by 20 tons at every price,what is the new equilibrium price and quantity?

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-The above table gives the demand and...

Question 7

Last year a very severe ice storm hit the north counties of New York state,and the states of Vermont and Maine.Electric poles were down and no one had power for days.It was reported that the price of kerosene heaters skyrocketed and the number purchased increased during this time.Using a supply and demand diagram,show the impact of the ice storm on the market for kerosene heaters.

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Question 8

Consumers can use either natural gas or heating oil to warm their houses.Suppose the price of natural gas increases.Use a demand and supply diagram to show the impact of the higher price of natural gas on the market for home heating oil.

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Question 9

For consumers,computers are a complement to computer software.Suppose the price of a computer falls.Simultaneously,suppose that the number of companies selling computer software decreases.How do these changes affect the price and quantity of computer software?

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Question 10

-The above table gives the demand and supply schedules for cat food.If the price is $3.00 per pound of cat food,will there be a shortage,a surplus,or is this price the equilibrium price? If there is a shortage,how much is the shortage? If there is a surplus,how much is the surplus? If $3.00 is the equilibrium price,what is the equilibrium quantity?

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-The above table gives the demand and...

Question 11

-The diagram above illustrates the market for apartments in Victoria,British Columbia.
a.If the current rent is $300 per month,is there a shortage or surplus in the apartment market and how much is the shortage or surplus?
b.What is the equilibrium rent and quantity of apartments?

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-The diagram above illustrates the market for...

Question 12

In early 2012 the price of computer hard disc drives rose.In a demand and supply model,shifts in what curve or curves could have brought about the higher price?

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Question 13

-The above table gives the demand and supply schedules for cat food.If the price is $1.00 per pound of cat food,will there be a shortage,a surplus,or is this price the equilibrium price? If there is a shortage,how much is the shortage? If there is a surplus,how much is the surplus? If $3.00 is the equilibrium price,what is the equilibrium quantity?

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-The above table gives the demand and...

Question 14

What is the effect on the price and quantity of a product if both the demand and supply simultaneously increase?

Accepted Answer

The answer of What is the effect on the price...

Quiz 4: Demand and Supply

-In the figure above,what is the equilibrium price and quantity?

Smart phones are becoming less expensive as new technology reduces the cost of production.In a supply and demand model,explain the effects of the technological innovations and their effect on the quantity of smart phones.

What is the effect on the price and quantity of a product if the demand decreases and the supply simultaneously increases?

-In the figure above,if the price is $8 a unit,is there a shortage or surplus and what is the amount of any shortage or surplus?

-The above table gives the demand and supply schedules for cat food.What is the equilibrium price and quantity?

-The above table gives the demand and supply schedules for cat food.If the supply increases by 20 tons at every price,what is the new equilibrium price and quantity?

Consumers can use either natural gas or heating oil to warm their houses.Suppose the price of natural gas increases.Use a demand and supply diagram to show the impact of the higher price of natural gas on the market for home heating oil.

For consumers,computers are a complement to computer software.Suppose the price of a computer falls.Simultaneously,suppose that the number of companies selling computer software decreases.How do these changes affect the price and quantity of computer software?

-The diagram above illustrates the market for apartments in Victoria,British Columbia. a.If the current rent is $300 per month,is there a shortage or surplus in the apartment market and how much is the shortage or surplus? b.What is the equilibrium rent and quantity of apartments?

In early 2012 the price of computer hard disc drives rose.In a demand and supply model,shifts in what curve or curves could have brought about the higher price?

What is the effect on the price and quantity of a product if both the demand and supply simultaneously increase?