Suppose that the demand and supply curves for green peas are given by Qd = 10 - 8P and Qs = 2P, where P is price per pound and Q is measured in thousands of pounds. If the price per pound of peas is $0.50, the market , so the price will A. has excess demand of 3,000 pounds; rise B. has excess supply of 1,000 pounds; fall OC. is in equilibrium; remain unchanged D. has excess demand of 5,000 pounds; rise
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- Given that the demand for 10 crates of eggs is 200 dollars is supplied to 5 stores and thedemand for 4 crates at 50 dollars and supplied to 15 stores, calculate the equilibrium price and quantity 2.Suppose that the demand and supply schedules for raisins in South Carolina are as fallows, quantitiesare measured in millions of packs per month. What is the quantity of raisins bought if the price is 50cents ? Price (cents per pack) Quantity demanded20 18030 16040 14050 12060 10070 8080 60 a) 120b) 180c) 100Excess supply of a product will cause the price to As a consequence Market for pizza of the price change, the quantity demanded will quantity 14.00- 13.00- 12.00- 11.00- supplied will increase decrease At the current market price PMatet of $9.00, there i of thousand pizzas per month (Enter your response as a positive integer.) 10.00- 9.00- PMarket a 8.00- * 700- 8 6.00- E 500- 4.00- 3.00- 2.00- 1.00- 40 22 510 15 20 25 30 35 40 45 so 55 60 Thousands of pizzas per month 0.00-
- Supply and Demand The table below gives thequantity of graphing calculators demanded and thequantity supplied for selected prices.a. Find the linear equation that gives the price as afunction of the quantity demanded.b. Find the linear equation that gives the price as afunction of the quantity supplied.c. Use these equations to find the market equilibriumprice.fer to the accompanying figure Assume the market is originally at point W. Movement to point X is the result of Price W N Quantity Multiple Choice 4 O an increase in demand and a decrease in supply. an increase in demand and no change in supply. no change in demand and an increase in supply. a decrease in demand and an increase in supplyPrice 3FE 0 A H S₁ So D₁ Do BC Quantity Given Do, if the supply curve shifts from So to S1, then: O Supply has increased and the equilibrium quantity has increased. O The quantity supplied has increased. O Supply has decreased and the equilibrium quantity has decreased. O Supply has increased and the new prices is OG
- 16. A consequence of a Maximum price is: Select one: O a. A new equilibrium established O b. Excess supply 2C Cver production of goods O d. Excess demand10. What factors can change demand? What factors can change quantity demanded? 11. When a person goes to the grocery store to buy food, there is no auctioneer calling out prices for bread su other items. Therefore, supply and demand cannot be operative. Do you agree or disagree? Explain vour e, milk, 12. The price of a given-quality personal computer is lower today than it was five years ago. Is this necessarily the resuke of a lower demand for computers? Explain your answer. 13. What is the effect on equilibrium price and quantity of the following? a. A decrease in demand that is greater than the increase in supply b. An increase in supply c. A decrease in supply that is greater than the increase in demand d. A decrease in demand 14. At equilibrium quantity, what is the relationship between the maximum buying price and the minimum selling price? 15. If the price paid is Php40 and the consumers' surplus is Php4, then what is the maximum buying price? If the minimum selling price is…Which of the following shifts the supply curve of broccoli? Select one: a. a newly discovered link between broccoli consumption and tooth decay O b. the destruction of much of this year's broccoli crop by hurricanes O c. a newly discovered increase in the nutritional value of broccoli O d. an increase in income
- 28 S1 24 20 S2 16 12 8 D2 D1 4. 8 12 16 20 24 Q 12 P. 4.Figure 4 contains information about the supply of bread in the UK. Originally the quantity supplied is point A on supply curve S1. The increase in the price of flour and yeast because of COVID-19, will most likely...... e 4 Price A -S3 B S₁ Cause a movement from point A to B on S1 Cause a movement from point A to B on S1 Cause a movement from point A to somewhere on S2 Cause a movement from point A to somewhere on S3 -S₂ QuantityThe figure shows the supply and demand for online music. Suppose that an economic downturn decreases household wealth and erodes consumer confidence. Move the supply and/or demand curves to reflect the primary effect this would have on the market for online music. You can assume that online music is a normal good. Also select the end result of equilibrium price and quantity. Equilibrium price increases. O remains constant. Equilibrium quantity increases. remains constant. decreases. O change is ambigous. decreases. change is ambiguous. Price (5 per track) Quantity (number of tracks) Supply Demand