Could you check these please thanks. A --------- is a graph showing the quantities supplied at each possible price. A. Supply Schedule B. Law of supply C. Supply Curve D. Market Supply Is the answer C?

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Economics quick question

Could you check these please thanks. A --------- is a graph showing the quantities supplied at each possible price. A. Supply Schedule B. Law of supply C. Supply Curve D. Market Supply Is the answer C??

Economics

Could you please check this Directions: Match each item with the correct statement. Here are the words: supply elasticity law of supply price system technology price ceiling supply inelastic supply curve shortage market supply taxes 1. principle that suppliers will normally ...

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 the range of values for the price from $1 to...

economics

Can you please exlain to me if I'm wrong not just correct me. ps. Ceteris paribusor the following markets, show whether change causes a shift in supply curve, a shift in demand curve, a movement along the supply curve, and/or a movement along the demand curve. a.housing market...

Survey of Calculus (Algebra too)

For the supply equations, where X is the quantity supplied in units of a thousand and P is the unit price in dollars, (A.)- sketch the supply curve and (B.)- determine the price at which the supplier will make 2000 units of the commodity available in the market. P= x^2 + 16x...

Microeconomics

It has been estimated that the world demand for wheat can be represented by thefunction P = 80 - 2Q. It has been further found that the countries supplying thismarket have marginal cost curves which when summed together are given by theequation MC = 5 + Q What price and output...

economics

Producer surplus is shown graphically as the area: under the demand curve and above the market price. under the demand curve and below the market price. above the supply curve and below the market price. above the supply curve and below the market price. above the supply curve...

Macro Economics

I am answering a mutiple choice question and there are two that seem correct. One answer is "Supply will increase" The other is the other is "There will be movement along the supply curve to a higher quantity supplied." What is the diference between these two answers?? Or am I...

economics

Suppose that the demand curve for wheat is Q= 100-10P and the supply curve is Q=10P. The government imposes a price support at Ps= 6 using a deficiency program. 1.What is the quantity supplied and the priced cleared by the market, and the deficiency payment? 2.Graph you ...

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 describe? What does the supply curve for...

Economics

An industry currently has 100 firms, all of which have fixed costs of $16 and avg. variable cost as follows: Q Avg. Variable Cost ($) 1 1 2 2 3 3 4 4 5 5 6 6 a. Compute marginal cost and avg. total cost. b. the price is $10. what is the total quantity supplied in the market? c...

social sciences

The market supply for potatoes in New York is 2,000 tons for a price of $200 a ton, and 5,000 tons for a price of $500 a ton. Between these two prices market supply is a straight line. What is the equation of the supply curve?

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 profit -maximizing output c)the market supply ...

Economics

Could you please check these. Directions: Match each statement with it's correct definition or item. Here are the words productivity subsidy supply schedule supply elastic surplus profit price floor government regulations equilibrium price supply 1. amount of a good or service...

Macroeconomics

working on homework & stuck on these three questions. Someone please check if I answered these correctly; Thank you! 1. In the event of excess supply in the coffee market __________. A. the price of coffee will increase B. the price of coffee will decrease C. the supply of ...

Economics

Could you please check these thanks. Directions: Supply can decrease and increase depending upon several factors. Also you must put if that factor increase/decreases amount of supply, if the supply curves to the left/right, and if the cost to produce is increasing/decreasing ...

Economis

I have got an economics questions, and i did my personal revision by tying to work the question. here is the question: using demand and supply analysis, explain the influence of the imposition of a maximum price and a minimum price on a product on price and quantity (10 marks...

Economics/Math

Suppose there are four firms in a competitive market and that each firm has the following supply function. Supply functions for competitive firms Company Supply Function 1 Q1 = 16 + 4P 2 Q2 = -5 + 5P 3 Q3 = 32 + 8P 4 Q4 = - 60 +10P a. Find the competitive market supply ...

Basic: Demand and Supply

Question: Can you please check whether or not my answer is correct? If not, can you please correct it? Scenario: The market for peanut butter in New York where over 1 million stores that sell peanut butter at any given amount. Suppose the price of bread increases (Assume that ...

Econ 220

Suppose we have the following market supply and demand schedules for bicycles: Price Quantity Demanded Quantity Supplied $100 70 30 $200 60 40 $300 50 50 $400 40 60 $500 30 70 $600 20 80 a. Plot the supply curve and the demand curve for bicycles. (Note please don’t worry ...

Social Studies

What is the difference between supply curve and a supply schedule? Thanks:))

Microeconomics

Search: Consider two resource markets in which the demand curves slope downward. In market A, the supply curve is horizontal, equilibrium price is $6, and 100 units of the resource are hired. In market B, the supply curve is vertical, equilibrium price is $20, and 30 units of ...

math

You are given a pair of equations, one representing a supply curve and the other representing a demand curve, where p is the unit price for x items. 80 p + x - 380 = 0 and 84 p - x - 40 = 0 a. Identify which is the supply curve and demand curve and the appropriate domain. Put ...

pre-calculus

You are given a pair of equations, one representing a supply curve and the other representing a demand curve, where p is the unit price for x items. 80 p + x - 380 = 0 and 84 p - x - 40 = 0 a. Identify which is the supply curve and demand curve and the appropriate domain. Put ...

economics

Market research has revealed the following information about the market for chocolate bars. The demand schedule can be represented by the equation QD=1,600-300P, where QD is the quantity demanded and P is the price. The supply schedule can be represented by the equation QS=1,...

economics

Think about how each scenario would affect the price of khaki pants. a.A new technology reduces the time it takes to make a pair of khaki pants. b.The price of the cloth used to make khaki pants falls. c.The wage rate paid to garment workers increases. d.The price of jeans ...

pre-calculus

You are given a pair of equations, one representing a supply curve and the other representing a demand curve, where p is the unit price for x items. -45 x^2 - 74.5199999999995 x + 15921.36 - 1224.72 p = 0 and 54 x^2 + 1743.12 x + 13880.16 - 6940.08 p = 0 a. Identify which is ...

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 shoes _______ and the demand for shoes ...

economics

Suppose we have the following market supply and demand schedules for bicycles: Price Quantity Demanded Quantity Supplied $100 70 30 $200 60 40 $300 50 50 $400 40 60 $500 30 70 $600 20 80 Plot the supply curve and the demand curve for bicycles. (Note please don’t worry about ...

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 second is for the last one. I just need ...

econ

Suppose there are 1000 identical firms producing diamonds. Diamond miners receive the wage rate w. Assume that the short-run cost function for each diamond-producing firm is C(q) = wq + q2. a. If w = 10, what is the supply curve of an individual firm? What is the market supply...

econ

Suppose there are 1000 identical firms producing diamonds. Diamond miners receive the wage rate w. Assume that the short-run cost function for each diamond-producing firm is C(q) = wq + q2. a. If w = 10, what is the supply curve of an individual firm? What is the market supply...

economics

Which of the following is a FALSE statement? A. Changes in the price of inputs can cause a shift in supply. B. If the price of other goods change, it can cause a shift in supply. C. Government involvement in the economy will not cause a shift in supply. D. Certain advancements...

MICROECONOMICS

In order to reduce cigarette consumption, govt initiates anti-smoking media campaigns. At the same time it provides price support program for tobacco farmers, pushing price of tobacco above equilibrium. with supply demand framework explain the effect on cigarette consumption. ...

economics

distinguish between the individual supply curve and the market supply curve

Economics

If the demand curve shifts but supply curve doesn't & price remains the same supply must be perfectly inelastic? a. True b. False

Pre-calculus

You are given a pair of equations, one representing a supply curve and the other representing a demand curve, where p is the unit price for x items. 80 p + x - 380 = 0 and 84 p - x - 40 = 0 Identify which is the supply curve and demand curve and the appropriate domain. Put the...

Microeconomics

3. An industry currently has 100 firms, all of which have fixed costs of $16 and average variable cost as follows: Quantity Average Variable Cost 1 $1 2 2 3 3 4 4 5 5 6 6 1) The price is currently $10. What is the total quantity supplied in this market? 10 2) As this market ...

economics

in the simple economics of a competitive market price increases under which condition: a) demand is constant. supply declines b) demand decreases. supply increases c) demand and supply rise concomitantly d) demand and supply decline concomitantly

Economics

Supply is best defined as the measure of how much producers are willing and able to sell A) above the market-clearing price. B)at any one price in a given period of time. C) at all possible prices. D)according to their resources and profit motives. ( its D or B) 2) The Law of ...

economics

in the simple economics of a competitive market price increase under which condition: a)demand is constant.supply decline. b)demand decreases.supply increases. c)demand ans supply rise concomitantly.

Macroeconomics

Please, please help me! Make a graph in Excel and explain the following: Holding all other things constant, what would happen to the price of pineapples if the firm increase the available supply. 2. Conversely, what would happen if supply is reduce. Aside from changin the ...

Economics

I am working on the cost of taxation. Question: The market for pizza is characterized by a downward-sloping demand curve and upward-sloping supply curve. Suppose that the govenment forces each pizzeria to pay a $1.00 tax on each pizza sold. Illustrate the effect of this tax on...

supply and demand

two questions- 1. if sam decidedd to buy more vegtables does this imply that there has been an increase in quantity demanded . please graph as well 2. a dealer has recently started using a foreign supplier of goods rather than a local one . this caused his cost to decrease and...

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 second is for the last one. I just need ...

macroeconomics

I am not sure how to draw the graphs can anyone help answer this question for me? Suppose that the supply schedule of Maine lobster is as follows: Price of Lobster Quantity of lobster supplied (Per Pound) (Pounds) $25 800 20 700 15 600 10 500 5 400 Suppose that Maine lobsters ...

supply and demand

-what happens if a shortage of a product currently exists in the market? -what happens if a priceincreases? -when a firm advertises products, what does it atten too? -in a market, conpetitive forces guarantee that any price other than the equilibrium price is: -the "ceteris ...

microeconmics

hi guys, im stuck on this question, if anyone can help me out i would really appreciate it ! Q: The market demand and supply curves for an agricultural product are as follows: Qd = 4500-250P and Qs = 200p where quantities are in thousands of bushels per annum and price is in ...

home economics

Graphing : Mooville is a small town in texas. assume that beef is a normal good. what happens to the amount of beef dfemanded or supplied in each of the following cases? draw a separate demand and supply curve for each part of this question, label the axes, and show how the ...

Economics

analyze what happens to the market for cheeseburgers if the price of cheese rises (cheese being apart of the cost for a cheeseburger) . Be specific and explain what happens ( or is not affected) for each of the following: 1. the supply curve 2. the quantity supplied 3.the ...

Econ

How does the aggregate goods and services market differ from the regular (microeconomic) supply and demand market? In other words, how does aggregate demand and aggregate demand differ from normal supply and demand? Address the measures of price, quantity, and the demand and ...

Supply/Math

The suppliers will supply 3,300 units if the price is $350.00 and 3,800 units if the price becomes $410.00. Then the linear supply equation is p = ? s + ? .

Algebra

A group of retailers will buy 96 televisions from a wholesaler if the price is $500 and 136 if the price is $450. The wholesaler is willing to supply 84 if the price is $420 and 164 if the price is $510. Assuming the resulting supply and demand functions are linear, find the ...

Economics

If an industry is highly profitable, new firms are likely to enter the market. This would be reflected with a shift of the A- demand curve to the right B-supply curve to the right C-supply curve to the left D- demand curve to the left

ecomonics

I am trying to understand the math part of supply and demand . I am not getting it,I really need help! The question is: The demand and supply functions for sweatshirts are as follows: DEMAND Supply Quanity Quanity demanded(per period) supplied(/peri price__ price 10-----15,000...

Economics

An early freeze in CA sours the lemon crop, What happens to consumer surplus in the market of lemons? What happens to consumer surplus in the market for lemonade? Illustrate your answers with diagrams Draw initial supply and demand curves for lemons. Because of the freeze ...

Economics help please!

1. A limited liability company is the best form of business for owners who? A. are concerned about keeping their costs of production at a minimum level. B. want an outside company to handle all the business's finances. C. expect to eventually grow their company to compete ...

Economics

A long-run supply curve is flatter than a short-run supply curve because A. firms can enter and exit a market more easily in the long run than in the short run. B. long-run supply curves are sometimes downward sloping. C. competitive firms have more control over demand in the ...

Microeconomics

Can you show graphically the presence of externalities for example in the case of research and development expenditures? Also is this type of externality referred to as the generic case? thanks.... I don't know what you mean by the "generic case". However, in general, we ...

MICROeconomics

It has been estimated that the world demand for wheat can be represented by thefunction P = 80 - 2Q. It has been further found that the countries supplying thismarket have marginal cost curves which when summed together are given by theequation MC = 5 + Q What price and output...

international encomics

US import demand for French perfumes is given by P = 90 - 3Q, where P is the perfume price ($), Q is the number of imported perfume bottles (in millions) demanded by US consumers. International supply of French perfumes (in dollars and in million bottles) is given by: P = 10...

FIN 100

P5: The following information is available to you: travelers’ checks = $1 million; coin and paper currency = $30 million; repurchase agreements and Eurodollars = $15 million; demand deposits = $25 million; retail money market mutual funds = $60 million; savings accounts at ...

Math -

A)For a certain commodity the demand equation is given by D=-3p+20. At the price of $1, four units of the commodity are supplied.If the supply equation is linear and the market price is $4, find the supply equation. B) how many litres of a 70% alcohol solution must be added to...

supply chain

Supply Chain Risk: Research information on the Internet to assess the risks of a global supply chain. How have companies in the Microsoft supply chain been affected by disruptions to the supply chain due to events like strikes and natural disasters? Answer in no more ...

economic

find the competitive price and quantity (as if the above marginal cost curve represents the market supply curve. given the market demand equation P=100-.1Q and TC=1000+20Q+.4Q^2

economics

Suppose the supply and demand for milk is described by the following equations: Qd=600-100P, Qs = -150+150P, where P is price in dollars . Qd is quantity demanded in millions of gallons per year. A. Create supply and demand tables corresponding to these equations. B. Graph ...

Economic Math

Suppose the supply and demand for milk is described by the following equations: Qd=600-100P, Qs = -150+150P, where P is price in dollars . Qd is quantity demanded in millions of gallons per year. A. Create supply and demand tables corresponding to these equations. B. Graph ...

Economics

If there was a baby boom of Oompa Loompas ready to work for free, what will happen to the Willy Wonka chocolate market? In particular: Has this affected supply or demand of Willy Wonka Chocolate? What has happened to the price of Willy Wonka chocolate? Please describe the ...

Economics

Consider 2 markets for carpenters: the city of Portland and the United States. Draw 2 supply curves for the carpenters: one for the city of Portland and one for the US. In which market would you expect more elasticity supply of carpenters? If you can't draw the graphs describe...

Microeconomics

Suppose Intel Inc. and other chip makers utilize a new techology for producing the flash memory chips used in digital music players. How would you Illustrate and Explaine the resulting effects on the Equilibrium price and quantity in the flash chip market and the digital ...

economics

Q AC MC 1 4 12 2 8 20 3 12 28 4 16 36 5 20 44 6 24 52 7 28 60 8 32 68 9 36 76 suppose that there are 70 firms in operating in the industry. using the MC curve, find out how much output in total is delivered to the market at each price (you only need to consider prices equal to...

economics

What are 5 deteminants of demand for JONES Soda Co? What are 4 determinants of supply for JONES Soda Co? Think about what influences supply and demand e.g., what are some factors that would shift the supply curve? the demand curve? And this will be your answer.

Mircoeconomics: Elasticity

Please help! I have a mid-term test in a couple of minutes... -------------- If the demand for some good fluctuates, but supply is constant, then which of the following combinations would generally yield the greatest quantity fluctuations? A) large demand fluctuations and ...

Math help

Fimd the market price and demand for the pair of supply and demand equAtions: supply: Q=88p+653 Demand: q=1903- 37 p

Macroeconomics

Suppose in an economy the nominal money supply is $ 1000, the general price level is 4 and the real output is at its full employment level of $4000. a. what is the price level and velocity of money? b. By assuming constant velocity of money, what would you expect to see the ...

Economics: Demand and Supply

Suppose the market for ice cream is deregulated. That is, ice cream are free to adjust based on the forces of demand and supply. If a shortage exists in the ice cream market, then the current price must be _______ than the equilibrium price, and you would expect __________. My...

economics

What is a supply shock? Give an example of a current supply shock. Which way does this shock move the AS curve? What is the resulting impact on potential GDP and the price level?

algebra

Supply and demand. The supply and demand for the sale of stereos by Sound Ideas are given by S(x) = ex and D(x) = 162,755e−x, where S(x) is the price at which the company is willing to supply x stereos and D(x) is the demand price for a quantity of x stereos. Find the ...

economics

Q: The market demand and supply curves for an agricultural product are as follows: Qd = 4500-250P and Qs = 200p where quantities are in thousands of bushels per annum and price is in dollars per bushel. the government wishes to acheive a higher point on the supply curve than ...

Economics

Determine whether each of the following would cause a shift in the aggregate demand curve, the aggregate supply curve, neither, or both. Which curve shifts, and in which direction? What happens to aggregate output and the price level in each case? a. The price level changes b...

economics

Over the last two decades, the price of personal computers in real as well as nominal terms has declined markedly. Does this mean that the personal computer industry is decreasing-cost and that the long run supply curve for personal computers is downward sloping? Am I correct ...

economics

This is going to be really long, but I want to see if my answers are correct. This is problem number 10.10 in my Intermediate Microeconomics book. A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost ...

Economics

1.Which of the following is consistent with the law of supply? a.As the price of calculators rises, the supply of calculators increases, ceteris paribus. b.As the price of calculators falls, the supply of calculators increases, ceteris paribus. c.As the price of calculators ...

statistics

20. Supply and Demand Let the supply and demand functions for butter pecan ice cream be given by p=s (q) = 2/5q and p= d (q) = 100 – 2/5 q where p is the price in dollars and q is the number of 10- gallon tubs. a. Graph these on the same axes. b. Find the equilibrium ...

Microeconomics

For this part of the assignment, we will focus on the demand curve. Draw the demand curve for the A-Phone. Explain how the graph, price, and quantity demanded will change if the following occurs: • There is an overall increase in income. • It is discovered that there are ...

Microeconomic

Consider the market for peanuts. Initially, the quantity supplied is 35 and at $2.50 each. Then a blight occurs that destroys a significant portion of peanut crops. This shifts the supply curve leftward. The new quantity supplied is now 30 and at $3.50 each. Calculate total ...

Economics

A supply curve does all of the following, except: Answer Uses the ceteris paribus assumption. Holds constant time, place, income, costs of inputs, costs of substitutes, and suppliers' expectations about future prices. Shows the quantity producers are willing and able to supply...

Economics

Upper Slobbovians smoke 10 million cigarettes per year, so do Lower Slobbovians. To discourage smoking, each country imposes an excise tax of 50 cents per pack. As a result, the price of cigarettes rises by 35 cents in upper Slobbovia, but only by 15 cents in lower Slobbovia ...

Finite Math

At a price of $ 1.94 per bushel, the supply corn in 9,800 million bushel and the demand is 9, 300 million bushel. At a price of $1.82 per bushel, the supply is 9,400 million bushels and the demand is 9, 500 million bushels. A, find a price-supply equation of the form p=mx + b ...

Economics

How is elasticity of supply related to elasticity of demand? Is this correct? I know that the terms supply and demand refer to the behavior of people as they interact with one another in markets. Buyers determine demand and sellers determine supply. Just as we can measure how ...

Social Studies

Hoe does a decrease in supply affect the supply curve? :)) Maddie

Social studies

1. What event would most likely cause an increase in sales A. Decrease in price B. Increase in supply C. Decrease in product quality D. Increase in quality product Answer: A 2. What is stated by the law of supply A. An increase in price will cause a reduced amount of sales B. ...

Econ

For a typical negative externality market graph, with Demand curve (also labelled private value), and supply curve (private cost) and a social cost curve above the supply curve. What is the optimal quantity that maximizes total economic well being? Is it where the social cost ...

Economics

Sugar can be produced from a variety of plants. In tropical countries it is frequently derived from sugarcane. In the U.S. it is largely extracted from sugarbeets. As part of a program of economic pressure against Cuba, the U.S. has for years placed large tariff (import tax) ...

economics

An increase in an economy's resource pool will: 1)shift the short-run aggregate supply curve inward. 2)cause a movement along the long-run aggregate supply curve. 3)will shift both the long-run and short-run aggregate supply curves outward. 4)will shift the long-run aggregate ...

Economics

How does a price ceiling undermine the rationing function of market-determined prices? How could rationing coupons insure that consumers with the highest values get the limited amount of a good supplied when government price ceilings create shortages? Fully explain your answer...

Finite Matematics

The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $170; the quantity demanded each month is 1000 when the unit price is $140. The suppliers will market 750 espresso makers if the unit price is $90. At a unit price of $110, they are ...

pre-calculus

It has been found that the supply of lamps varies linearly with its price. When the price per item was $ 94.67 ,64 items are supplied; When the price was $ 134.67 , 124 items are supplied. How many lamps are supplied when the price per item is $ 118.00 ? What is the lowest ...

Economic

The market for Good X can be depicted with the following demand and supply equations: Demand: P = 50 – 1/2Q Supply: P = 1/3Q Where P is price per unit and Q represents quantity in units. Policy makers plan on imposing a $1 per unit tax on this good. Question: ( Market for ...

Managerial Economics

How does a price ceiling undermine the rationing function of market-determined prices? How could rationing coupons insure that consumers with the highest values get the limited amount of a good supplied when government price ceilings create shortage? Fully explain answer based...

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