Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

Answer the following problems.

1. If the price of a good increases, Illustrate what happens to demand?

2. If the price of a good decreases, what happens to supply?

3. Does a change in price create curve shifts? describe.

Complete the following matrix. An ex is provided.

Event

Market affected by event

Shift in supply, demand, or both. describe your answer.

Change in equilibrium

Frozen orange crops in California

Orange juice

Supply (left)-Not as many available oranges to offer consumers.

Price will increase and quantity will decrease.

Hurricanes in the Gulf Coast

Gulf Coast tourism

 

 

Price of hot dogs increases

Hamburger

 

 

Price of sugar increases

Candy

 

 

New auto company opens in Detroit

Automobile

 

 

War in Middle East

Gasoline

 

 

Movie theaters increase admission prices

Video rentals

 

 

Very trendy designer handbag manufacturer enters the market

Hand bags

 

 

Cost of cotton decreases

Textiles

 

 

Tennis racquets decrease in price

Tennis balls

 

 

Technology improves efficiency in pasta manufacturing

Pasta

 

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M920819

Have any Question? 


Related Questions in Business Economics

The operator of the tunnel that links britain and france

The operator of the tunnel that links Britain and France, Eurotunnel, said that commercial and tourist traffic using its car and coach shuttle service had fallen sharply, leading to a drop in operating revenues of 4%. Eu ...

We are deeply indebted to the young men and women in the

We are deeply indebted to the young men and women in the military who choose to serve and risk their lives for their country. All of us benefit from their sacrifices. Now, the question is: what motivates and incentivizes ...

Please answer the below question in 2 paragraphs at least

Please answer the below question in 2 paragraphs at least. Please provide references. Do not submit a copy pasted work from online. What are some socially undesirable effects of a monopoly industry (which means a single ...

Using amtrak and usinggraphical analysis to analyze the

Using amtrak and usinggraphical analysis to analyze the issues presented in the current event (possible graphs production function, total and marginal product curves, curves, MR = MC, long and short run equilibrium, or a ...

Machine a costs 9000 to purchase and 5000 per year to

Machine A costs $9000 to purchase and $5000 per year to operate. It lasts for 6 years, and has no salvage value at the end of its life. Machine B costs $16,000 to purchase and $4000 per year to operate. It lasts for 9 ye ...

Suppose in the united states one worker can produce 10 tons

Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The Un ...

In a 3 pages paper and double space describe the advantages

In a 3 pages paper and double space describe the advantages and disadvantages of magnetic storage, optical storage, and solid state storage using criteria such as versatility, durability, capacity, access time, and trans ...

Make a list of products and services which are least

Make a list of products and services which are least satisfactory and have shown the least improvement over time. How many of these are produced by government? Do you agree or disagree with this statement by Milton Fried ...

Assignment global business today - the hofstede studyrefer

Assignment: Global Business Today - The Hofstede Study Refer to Hofstede model in Chapter 4 of the textbook and the Global Business Today Interaction located below, and complete this assignment. Note: You must have a Fla ...

Why is it important that prices are flexible in the economy

Why is it important that prices are flexible in the economy? Do you think government should be involved in manipulating prices?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate