Consider the market for coffee. For each of the following
scenarios, what would happen to total revenue after the price
increases? Place each scenario in the correct category.
Items (5 items) (Drag and drop into the appropriate area
below)
Coffee drinkers say there is no substitute.
Coffee drinkers decide to save their money for alcohol on
Friday nights.
Leaf rust damages one-third of the world's coffee crop.
Brazil has a drought.
Coffee drinkers discover a flavor of tea that tastes...
1. What would happen to demand for each of the following goods
or services during current Covid-19 pandemic? Would demand increase
or decrease? Why? Relate your answer to our economic theory.
a. Restaurants
b. Pizza delivery services
c. Dollar store items
d. Hand sanitizers
e. Netflix video streaming
f. Gasoline
g. Cars
h. Bikes
i. Houses
j. Chicken (given that beef and pork are more expensive due to
lockdown of some meat processing companies)
For each of the following situations, briefly discuss what
would happen (physically and physiologically speaking) and why,
relating this back to the hormone(s) and gland(s) responsible.
What happens if you …
Drink too much alcohol at one time?
Come face to face with a very angry bear?
Don’t get enough iodine in your diet?
What would happen to demand for each of the following goods or
services during current Covid-19 pandemic? Would demand increase or
decrease? Why? Relate your answer to our economic theory.
a) Restaurants
b) Pizza delivery services
c) Dollar store items
d) Hand sanitizers
e) Netflix video streaming
f) Gasoline
g) Cars
h) Bikes
i) Houses
j) Chicken (given that beef and pork are more expensive due to
lockdown of some meat processing companies)
16. (short answer) Hypothesize what would happen if thyroid
cells could not respond to TSH. Suppose a doctor did a blood draw.
Would the levels of TSH be high or low? Thyroid hormone? TRH?
For each event, describe what you think would happen to the
premium for both an at-the- money call option and an at-the-money
put option on a stock.
[5] The stock’s price rapidly jumps 10%.
[5] A week passes with very little change to the stock’s
price.
[10] The spread of COVID-19 creates high volatility for the
stock (though on average the
price is largely in line with the pre-COVID trend).
[Extra Credit, 5] The firm issues an earnings report which...
Briefly describe what would likely happen to the supply and
demand of each good if the event noted occurred. What
would be the likely effect on the price and quantity in each case?
a) lobster: News
reports that toxins have been found in shellfish.
b) Exercise
Equipment: A link is discovered between lack of
exercise and several forms of cancer
c) Haddock:
New government regulations dramatically decreases the number of
haddock that fisherman are allowed to catch.
1. What would happen to blood flow if pressure
increased? Decreased? What would happen to blood flow if
resistance increased? Decreased?
2. What kinds of things affect resistance in blood
vessels? Which one of these has the greatest effect? Explain
why in terms of laminar flow.
Indicate for each of the following cases what will happen to the
total admission (IT), that is, if it increases (↑ IT), decreases (↓
IT) or remains constant.
1. Price decreases and demand is inelastic
2. Price increases and demand is elastic
In each of the following situations, list what will happen to
the equilibrium price and the equilibrium quantity for a particular
product, which is an inferior good.
The population decreases and
productivity increases
The income increases and the price of inputs
increase
The number of firms in the market
decreases and income decreases
Consumer preference decreases and the price
of a complement increases
The price of a substitute in
consumption increases and the price of...