Question
In: Economics
Use supply and demand to explain and show the following real-world situations graphically and in a...
Use supply and demand to explain and show the following real-world situations graphically and in a short paragraph. Be sure to explain what happens to the market quantity and price with a supply and demand diagram as precisely as possible.
a) The cost of producing sport utility vehicles (SUVs) decreases because tariffs are reduced on the steel and aluminum used to produce these vehicles. Explain what happens to the market quantity and price of SUVs.
b) The fungus Fusarium destroys 30% of worldwide banana production. Explain what happens to the market quantity and price of bananas.
c) On Valentine’s Day, the price of roses increased by more than the price of greeting cards. The price of greeting cards didn’t even appear to change. Why? You will want to use graphs of both the market for roses and the market for greeting cards to explain your answer.
Solutions
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Rahul Sunny answered 7 months agoRelated Solutions
Use either a shift in demand of supply to GRAPHICALLY represent each of the following situations....
Use either a shift in demand of supply to GRAPHICALLY represent
each of the following situations. Also, label the graphs correctly
and indicate the changes in equilibrium in each case.
Beef market: Increases in the cost of cattle
feed.
Air travel market: Reduced number of travelers due to Covid-19
pandemic.
SUV market: Reduced gasoline prices.
Smartphone market: Technology improvements reduced the cost of
manufacturing smartphones.
Four separate graphs please.
a) How would economic contraction brought about by Covid – 19
slowdown...
Use either a shift in demand of supply to GRAPHICALLY represent each of the following situations....
Use either a shift in demand of supply to GRAPHICALLY represent
each of the following situations. Also, label the graphs correctly
and indicate the changes in equilibrium in each case.
Beef market: Increases in the cost of cattle
feed.
Air travel market: Reduced number of travelers due to Covid-19
pandemic.
SUV market: Reduced gasoline prices.
Smartphone market: Technology improvements reduced the cost of
manufacturing smartphones.
Four separate graphs please.
Use the supply and demand analysis of the market for reserves to explain the following situations....
Use the supply and demand analysis of the market for reserves to
explain the following situations.
If a switch occurs from deposits into currency, what happens to
the federal funds rate?
Why is it that a decrease in the discount rate does not
normally lead to an increase in borrowed reserves?
What happens to the federal funds rate, borrowed reserves, and
nonborrowed reserves, holding everything else constant.
The economy is surprisingly strong, leading to an increase in
the amount of...
1. Using the supply and demand model, graphically show the effect of each of the following...
1. Using the supply and demand model, graphically
show the effect of each of the following changes on the equilibrium
price and quantity in the market for bacon:
a. A decrease in the price of sausage links (explain
any assumptions you make).
b. An increase in the price of corn, which is fed to
pigs (explain any assumptions you make).
c. An increase in the average income of consumers
(explain any assumptions you make).
d. The introduction of a price...
2. Use either a shift in demand OR a shift in supply (not both) to GRAPHICALLY...
2. Use either a shift in demand OR a shift in supply (not both)
to GRAPHICALLY represent each of the following situations. Also,
label the graphs correctly and indicate the changes in equilibrium
in each case.
a) The avocado market: Widely publicized studies on the health
benefits of avocado consumption.
b) Crude oil market: Interruption of world supplies as a result of
the war in the Middle East.
c) Orange Juice Market: Increased imports of orange juice from
Brazil.
d)...
Explain what happens to real money supply and real money demand in each of the following...
Explain what happens to real money supply and real money demand
in each of the following scenarios in the short-run. Illustrate
your answer using a diagram with real interest rate on the vertical
axis and real money on the horizontal axis. Label the axes and
curves clearly.
a) Nominal money supply increases
b) Many more stores accept digital payment technologies like
credit cards
c) Stock market crashes
d) Price Level rises and nominal money supply is fixed
For each of the following market situations, explain whether the supply curve or the demand curve...
For each of the following market situations, explain whether the
supply curve or the demand curve shifts, in which direction does it
shift, and the equilibrium price and quantity as a result of the
change. Please draw diagram for each and also explain the
reasoning
a) The market for Ginkgo Biloba after studies shows its efficacy
at memory retention with no adverse side effects.
b) The market is for automobiles after the price of steel, which
is used to produce...
For each of the following market situations, explain whether the supply curve or the demand curve...
For each of the following market situations, explain whether the
supply curve or the demand curve shifts, in which direction does it
shift, and the equilibrium price and quantity as a result of the
change. Please draw diagram for each and also explain the
reasoning
a) The market for Ginkgo Biloba after studies shows its efficacy
at memory retention with no adverse side effects.
b) The market is for automobiles after the price of steel, which
is used to produce...
Illustrate graphically an aggregate demand/aggregate supply of an economy in a recessionary situation. Show the GDP...
Illustrate graphically an aggregate demand/aggregate supply of
an economy in a recessionary situation. Show the GDP gap
graphically. How can the Federal help close the recessionary gap
moving the economy back toward full employment using monetary
policy? Account for the role of the money supplier in the answer.
Graphically show the prescription chosen. What is the potential
impact on interest rates, budget deficit and trade deficit if
applicable? Explain your answer.
Use supply and demand to graphically illustrate the equilibrium price and quantity of books. b....
Use supply and demand to graphically illustrate the equilibrium
price and quantity of books.
b. Assume: i. Tastes for reading books increase.
ii. The cost of paper to book publishers increases.
Illustrate and explain how these two assumptions will affect
supply, demand, price and quantity.
In your
analysis, identify the overall change in price and quantity.
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