Economics

posted by .

Utilizing market demand and market supply curves for spaghetti, help me illustrate the effect on equilibrium price and quantity of spaghetti for:

Increased worldwide demand for rice leads to an increase in the price of ride (which many see as an alt to spaghetti in preparing meals)

Increase in the price of rice and people will switch to spaghetti -- shift demand out.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. economics

    whats law of demand define satisfaction law of demand Definition If supply is held constant, an increase in demand leads to an increased market price, while a decrease in demand leads to a decreased market price. Source: http://www.investorwords.com/2734/law_of_demand.html
  2. plz help me

    For each event, illustrate the impact on the relevant United States market and determine what will happen to the equilibrium price and quantity in that market. I have 2 demand and supply graphs, the first one is for 3 of them and the …
  3. economics

    For each event, illustrate the impact on the relevant United States market and determine what will happen to the equilibrium price and quantity in that market. I have 2 demand and supply graphs, the first one is for 3 of them and the …
  4. Economics

    Utilizing market demand and market supply curves for spaghetti, help me illustrate the effect on equilibrium price and quantity of spaghetti for: Increased worldwide demand for rice leads to an increase in the price of ride (which …
  5. Microecon help

    How would the following affect the equilibrium price and quantity in the beef market?
  6. Economics: Market Equilibrium

    Question: The market for shoes in 1997. Between 1997 and 1998, the equilibrium price of shoes remained constant, but the equilibrium quantity of shoes decreased. From this, you can conclude that between 1997 and 1998, the supply of …
  7. Econ

    How does the aggregate goods and services market differ from the regular (microeconomic) supply and demand market?
  8. economics

    1. Suppose that the market of laptops is given by following supply and demand curves given below: Qd = 5000 − 3p Qs = 1000 + p. Answer the following questions on excel sheet using the above demand and supply equations. i) Take …
  9. economy

    consider a perfectly competitive market in which all firms have the same costs. choose the statement that is incorrect a)the market demand is elastic at the market price b)each firm takes the market price as given and produces its …
  10. economics 11

    The demand and supply schedules for milk are as follows: Price Quantity Demanded Quantity Supplied 10 0 125 8 20 95 6 40 65 4 60 35 2 80 5 a. On the same graph, draw the demand and supply curves. What does the demand curve for a product …

More Similar Questions