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I'm sorry for some reason it didn't add all the parts to the question.
This is all one question please answer all parts
Label the new equilibrium E1
What is the new
What is the new equilibrium quantity?
Was this a result of a change in demand or quantity demand?
Was this change an increase or a decrease?
As a result, did the equilibrium price increase or decrease?
As a result, did the equilibrium quantity increase or decrease?
Step by step
Solved in 2 steps
- Many changes are affecting the market for oil. Predict how each of the following events will affect the equilibrium price and quantity in the market for oil. In each case, state how the event will affect the supply and demand diagram. Create a sketch of the diagram if necessary. Cars are becoming more fuel efficient, and therefore get more miles to the gallon. The winter is exceptionally cold. A major discovery of new oil is made off the coast of Norway. The economies of some major oil-using nations, like Japan, slow down. A war in the Middle East disrupts oil-pumping schedules. Landlords install additional insulation in buildings. The price of solar energy falls dramatically. Chemical companies invent a new, popular kind of plastic made from oil.The computer market in recent years has seen many more computing sell at much lower prices. What shift in demand or supply is most likely to explain this outcome? Sketch a demand and supply diagram and explain your reasoning for each. A rise in demand A fall in demand A rise in supply A fall in supplyWhich of these will shift the demand for coffee? Which will shift supply? What will be the effect on the equilibrium price and quantity? Draw graphs to illustrate your answer a. A new study announces unexpected health problems associated with coffee b. An unusually cold winter occurs in the US (temperatures unchanged in coffee producing countries) c. A new technique is developed that allows coffee to be produced more cheaply d. You win the lottery and have more disposable income e. The price of tea decreases f. Unionization of coffee workers raises wages paid by coffee growers.
- The figure above shows a market that is originally at equilibrium at Point A, the intersection between been supply curve S1 and demand curve D1. Which of the following events would result in the market reaching a new equilibrium at Point C? Question 10Answer a. An increase in supply and a decrease in the quantity demanded. b. A decrease in supply and an increase in the quantity demanded. c. A decrease in the quantity supplied and a decrease in demand. d. A decrease in supply and a decrease in the quantity demanded.Which of the following would result from a decrease in supply? A. a decrease in the equilibrium price and a decrease in the equilibrium guantity B. an increase in the equilibrium price and an increase in the equilibrium quantity C. a decrease in the equilibrium price and an increase in the equilibrium quantity D. an increase in the equilibrium price and a decrease in the equilibrium quantity Which of the following would cause a rightward shift of the demand curve and a leftward shift of the supply curve? A. a decrease in the price of a substitute and a decrease in the price of a complement in production B. an expectation of higher income and a decrease in productivity C. a positive change in consumer tastes and a decrease in the cost of an input D. a decrease in the price of a complement and an expectation by firms of a lower price E. an expectation by consumers of a lower price and a decrease in the number of firms in an industryThis not a grade Question to go with picture: Label the new Equilibrium E1 What is the new equilibrium price? What is the new equilibrium quantity? Was the result of a change in supply or quantity supply? Was the change an increase or decrease? As a result, did the equilibrium price increase or decrease? As a result did the equilibrium quantity increase or decrease?
- What is the demand schedule?Which of the following would cause a decrease in the equilibrium quantity, but an increase in the equilibrium price? a. a decrease in supply b. an increase in demand c. a decrease in demand d. an increase in supplyAnitha Nair 12:52 PM AN an increase in demand is followed by a decrease in supply but with the same magnitude. Exp[lain what happens to eq price and eq qty?
- Not a grade. This is all ONE QUESTION (You don't have to do this I already have the graph) Label the new equilibrium E1. What is the new equilibrium price? 4 What is the new equilibrium quantity? 250 Was this a result of a change in supply or quantity supply? Was this change an increase or a decrease? As a result, did the equilibrium price increase or decrease? As a result, did the equilibrium quantity increase or decrease?The figure above shows a market that is originally at equilibrium at Point A, the intersection between been supply curve S1 and demand curve D1. Which of the following events would result in the market reaching a new equilibrium at Point E? Question 11Answer a. An increase in demand and a decrease in supply. b. An increase in demand and an increase in supply. c. A decrease in demand and a decrease in supply. d. An increase in the quantity demanded and an increase in the quantity supplied.Use supply and demand curves to illustrate how each of the following changes will affect the equilibrium price and quantity of the stated product, ceterus paribus. Before you guess, answer the following questions: (1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity? 1. The government provided subsidies for the farmers to improve their irrigation facilities. How would this improvement affect the equilibrium price and quantity of rice? 2. Wood furniture prices increase. How would this affect the equilibrium price and quantity of steel furniture? 3. During a recession, economies experience increased unemployment and a reduced level of activity. How would a recession be likely to affect the equilibrium price and quantity of new cars? 4. The government imposes a nationwide lockdown due to pandemic. How would this affect the market and equilibrium price of…