Explain the concept of equilibrium as it pertains to Demand and
Supply; identify what market forces keep a market from reaching
equilibrium, and why the natural tendency is to move toward
equilibrium. In your answer be sure to also explain what causes
shifts vs. movement in both Demand and Supply.
- explain in detail the law of supply, law of demand and market
equilibrium through diagrams.
- critically analyze the shift of demand versus movement along a
demand curve through diagrams.
explain to me using demand and supply and the market in a stable
equilibrium what you would expect to happen to the Florida market
for Apalachicola oysters if a harmful algal bloom (HAB) destroyed
oyster beds in Texas and Louisiana (Do not research actual oyster
markets, consider this as hypothetical). Note that Louisiana and
Texas oysters are substitutes for Apalachicola oysters so you need
to first think about what happens to the prices for those oysters
and then the impact...
The Law of Demand states the relationship between the demand for
a good and that good's price. Which of the following statements
summarize this relationship?
Choose one or more: A. Demand curves for Giffen goods could be
upward sloping or downward sloping. B. Demand curves for normal
goods are always upward sloping. C. Demand curves for normal goods
are always downward sloping. D. Demand curves for inferior goods
could be upward sloping or downward sloping. E. Demand curves for
Giffen...
With the aid of a diagram, discuss market equilibrium for a
public good in a hypothetical economy with two individuals who
consume that public good assuming those individuals reveal their
preference for that public good
With the aid of a diagram, discuss market equilibrium for a
public good in a hypothetical economy with two individuals who
consume that public good assuming those individuals reveal their
preference for that public good
Market in competitive equilibrium, the demand is the demand and
supply respectively are p = 100 - QD and p = 20 + (QS /3). The
government introduces a subsidy of s = $4 per unit of the good sold
and bought Suppose the government is trying to determine the amount
of subsidy (they think they can do better than s=$4), to maximize
the equilibrium quantity transacted (bought and sold) in the
market, yet it has a budget of $1500...