Which of the following will shifts the SAS curve to the left? O A natural disaster. O An improvement in technology. O A fall in the price of oil. O Arise in business tax.
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- Describe the mechanism by which supply creates its osi1 demand.As a general rule, is it safe to assume that a change in the price of a good will always have its most significant impact on the quantity demanded of that good, rather than on the quantity demanded of miller goods? Explain.suppose the price of orange juice rises and the apples falls. what would you expect ti happen to the price and quantity of apple juice? why would the equilibrum quanity increase while the impact onbthe equilbrum price be uncertain?
- Last year, 1000 galions of almond milk (a non dairy product) were sold ata price of $10 Yet, this year, a bad harvest in Caifomia has wiped outa significant part of the aimond harvest. At the same tme, a larger number of people are looking to shift away from dairy products towards non-dairy atematives. Because of these two changee. O. the equilibrum price will increase and change in the equlbrum quantity is unambiguous O. he equtibrium price will decrease but change in the equilbrum quantity is ambiguous O. he change in the equiibrium price is ambiguous, but the equilbrium quantty wil increase O. he equiibrium price will increase but change in the equilbrum quantity is ambiguousWhat offect would an increase in the cost of materials used to produce cars have on the supply of cans? O Increase O DecreaseTime left 0:56:44 All of the following except one would increase the amount of a particular model of a Ford automobile that buyers would like to buy. Which is the exception? Select one: O a. an increase in buyers' incomes O b. increased prices of other Ford models an expected future increase in the price Ос. O d. a decrease in the price of steel an increase in the population O e. Next ge eg IMG_7969.jpeg JPEG
- Last year, 1000 galions of almond milk (a non-dairy product) were sold at a price of $10 Yet, this year, a bad harvest in Califomia has wiped out a significant part of the aimond harvest At the same tme, a larger number of people are looking to shift away from dairy products towards non-dairy atematives. Because of these two changee, O the equilbrum price will increase and change in the equlbrum quantity is unambiguous O he equtibrium price will decrease but change in the equilbrum quantity is ambiguous O he change in the equiibrium price is ambiguous, but the equilbrium quantty wil increase O he equiibrium price will increase but change in the equilbrum quantity is ambiguousIn 2018, a cold front in Barbados increased both the demand for water heaters andgasolines. The usage of gasoline was 581 tonnes, an increase from 499 tonnes in theprevious year. The Petroleum Company of Barbados advised Government officials thatdemand could outweigh supply and asked companies to increase the supply. They alsoasked major gasoline users, such as power plants, to reduce demand. i. Illustrate the effect of the cold front on the demand for gasoline using a demandcurve diagram over the two years. ii. Assuming the Petroleum Company of Barbados did not issue a directive for anincrease in supply and a decrease in demand, explain the problem that would existin the economy and how would this be corrected over time.Which of the following is not a potential cause of an increase in the price of housing? Select one: O a. The price of land increases O b. An increase in consumer income O c. Cheaper methods of prefabricating homes are developed O d. An increase in population Oe. Construction workers' wage increase with no offsetting increase in productivity
- Which one of the following would not shift the demand curve for US domestic airline travel in January? O a. An increase in the cost of jet fuel. O b. An earthquake in California which leaves many tourist attractions closed. Oc. A cold spell in Florida. Note: Florida is typically warm in January and so attracts tourists for that reason. O d. An increase in the cost of automobile gas which consequently makes driving long distances more expensive than before. O e. A mild winter in the northeastern US so there is less desire to escape south.Choose the answer that describes the resulting change(s): O Supply of € shifts left; US$ depreciatres O Demand for € shifts left; US$ appreciates O Supply of € shifts right; US$ appreciates O Demand for € shifts right; US$ deppreciatesIn 2018, a cold front in Barbados increased both the demand for water heaters andgasolines. The usage of gasoline was 581 tonnes, an increase from 499 tonnes in theprevious year. The Petroleum Company of Barbados advised Government officials thatdemand could outweigh supply and asked companies to increase the supply. They alsoasked major gasoline users, such as power plants, to reduce demand.i. Illustrate the effect of the cold front on the demand for gasoline using a demandcurve diagram over the two years. ii. Assuming the Petroleum Company of Barbados did not issue a directive for anincrease in supply and a decrease in demand, explain the problem that would existin the economy and how would this be corrected over time. iii. Illustrate the effect of major gasoline suppliers increasing supply as well as usersreducing their demand. iv. Discuss one factor EACH that you think influence demand and supply for waterheaters. Provide examples v. Is demand for gas is price elastic or price…