25. With the increase in subsidies and grants, the supply of goods on the market... 1. Increases 2. Reduces 3. Remains unchanged 4. Decrease in arithmetic progression
Q: The income tax on earnings will eventually decrease working hours. With appropriate diagram,…
A: Labour supply is defined as the amount of total hours a worker or employee is willing to work at a…
Q: Sami bought an apartment for $185,000. The price of this apartment increased by 8% the first year,…
A: Profit is the difference between total revenue and total cost. Total revenue is the revenue that is…
Q: Question 2: As Oil and oil and gas prices, subu in hopes of reducing the of heating oil rose by 2.…
A: The cross-price elasticity of demand refers to the responsiveness of demand of a good towards the…
Q: 75. Suppose that a decrease in the price of X results in less of good Y sold. What are X and Y…
A: Price has an indirect relationship with quantity demanded of a good.
Q: 1. _______ Refers To an upper limit on the amount of a commodity that can be purchased by an…
A: In economics, there are specific terms used to explain specfiic economic concepts to understand the…
Q: 9. The exogenous influences on real estate demand-be able to discuss any potential effect on demand…
A: Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Graph Input Tool 100 Market for Rum 90 I Quantity (Bottles) Supply 48 80 Demand Price (Dollars per…
A: The Laffer Curve is a mathematical model that explains the relationship between tax rates and…
Q: 4. Price of 1 kilo potatoes on Tuesday is 36dhs. Same kilo of potatoes is 60dhs on Friday. When…
A: Economics is the study of how the scarce resources of society are exploited. It is a social science…
Q: 1.To what extent should the government intervene in the market?
A: Government intervention:- Government intervention is a supervisory strategy used by the state to…
Q: 1. what is equilibrium in market take an example 2. what is disequilibrium in market 3. changes in…
A: Market equilibrium: equilibrium in a market is a situation where the market forces of demand and…
Q: Refer to Figure 9.2. A movement from point a to point d could be caused by a simultaneous Select…
A: Option (d).
Q: i. An increase in student enrolment at universities across the country ii. A decrease in the price…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: Figure#1 Pepsi W.
A: Budget constraint shows all the combinations of two goods or services that a consumer can prefer to…
Q: 6. After years of support from Congress, farmers in the United States learned that the Farm Bill did…
A: Here, the supply curve of certain types of crop is given and it is stated that the farmers will not…
Q: 1. Based on Table 1, find the best answer to describe the table Table 1: Price and Quantity of Good…
A: The demand for a commodity is the quantity that a consumer desires to buy ans is willing to pay for…
Q: 1)illegal beer poses a great challenge to the beer market, explain how it affect domestic’s beer…
A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity…
Q: Q2: suppose the demand and supply equation for eggs in market is: Qd- 100-2p; Qs- 10+40p i. Complete…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: 1.0 National income – The Pandemic Economy 1.1 The IMF estimates that the global economy will make…
A: GDP refers to the value of all final goods and services produced in an economy over a given period…
Q: Supposed the government requires beer drinkers to pay P100 per case of beer purchased. Draw a supply…
A: The economic connection between the sellers and purchasers of different commodities is defined by…
Q: If the price of bags is higher, consumers will purchase less quantity of bags and if the price is…
A: Demand can be defined as the quantity of a good that the customers are able and willing to buy at…
Q: If the actual demand for April was 1440 units and the seasonal index was 2.5, whatwould be the…
A: Actual demand for April, (Yt) = 1440 units Seasonal index, SI = 2.5, Then, deseasonalized April…
Q: 1. Auto travel spurred the development of the following: a. the motels along highways b. a network…
A: When talking about auto travels, it is the transport service that allow people to reach from one…
Q: 6) Explain the impact of consumers' taste in a product increasing in 2+ sentences. Explain the…
A: Market equilibrium occurs when the market price of a commodity has reached that level when the…
Q: 3. The government increases taxes on farmers. 4. A tornado sweeps through farm land.
A: The producers are the suppliers. The greater the price, the more will be the supply in the market.…
Q: QUESTION 22 The value of land (as diannot trom human improvements to landi is oreated by nature and…
A: Here, it is given that the land will be taxed, but if it becomes a building, it will not be taxed,…
Q: Use the demand and supply model to explain why the quantity of word processor and many other…
A: Demand and supply is an economic model for determination of price in a market.
Q: 7._______ Refers To an upper limit on the amount of a commodity that can be purchased by an…
A: In the given question The term commodity basically refers to an agriculture product or a particular…
Q: 1. What are the ultimate reasons for analyzing the economic performance of a country/ market? How…
A: What are the ultimate reasons for analyzing the economic performance of a country/ market? The true…
Q: 2A. In the lower mainland the equilibrium market rental rate is at $1,500/month and the equilibrium…
A: Market rental rate = $1500/month Equilibrium quantity = 8000 units Rent control rate = $1800/ month
Q: Σ 3. 21 Pric 2. Unit 2 Progress Check FRQ 5. 2. 0 12 3 4 5 6 7 8 9 10 Quantity (millions of cases)…
A: The curve that depicts quantities of goods and services being demanded by consumers at various…
Q: 2. In an effort to encourage economic growth, the United States government has cut corporate income…
A: Law of Supply: There exists direct relationship between price and quantity supplied keeping other…
Q: UNITED STATES RESID ENTS OVER A GE 65 2. Look at the graph below. 70 65 60 55 50 45 2015 R025 2020…
A: The defense industry manufactures products for the US military. The education is provided to people…
Q: QUESTION 10 A boost in consumer sentiment will shifts IS curve to the right. O True O False
A: A boost in consumer confidence means that people are wanting to spend more either on investment or…
Q: 4. Data on rice sales in the Wonokromo market are as follows: Hari Price (rupiah) Quantity requested…
A: Demand equations are estimated by means of the consumption analysis of a consumer and we can do this…
Q: (d) What determines the market price and the natural price of a good according to Adam Smith’s…
A: Answer d) According to Adam Smith, value is a measure of wealth. Land, labor, and capital are…
Q: Price of a Quantity of movies movie Demanded $15 155 $17 ? 155 163 157
A: Law of demand states that there is an inverse relationship between price and quantity demanded,…
Q: b. Prices in most market are free to rise or fall to their equilibrium levels, no matter how high or…
A: B) The rising prices of gasoline has impacted almost all the aspects of the economy from agriculture…
Q: 1. Describe the difference between demand and supply. 2. How does the law of demand and supply…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 3(a) According to Adam Smith, discuss what brings about the differences in one’s ability to…
A: Hello. Since you have posted multiple parts of the question and not specified which part of the…
Q: Short-answer questions 1. Lulu hypermarket orders 8,000 cases of Pepsi each week and sells them at a…
A: As per honor code, we’ll answer only one question at a time , we have answered the first question…
Q: Problem 6 Consider a market that sells individual marbles. Qs=2+2*P Qd=11-P A $3 tax on…
A: Market Demand : Qd=11-P Market Supply : Qs=2+2P Before Tax Qd=Qs 11-P=2+2P 3P=9 P*=3 Q*=8 In the…
Q: Refer to the attached Midterm Figure_1. Which of the four graphs represents the market for…
A: Here, the given four graphs shows shift in demand and supply curve in different situations.
Q: The increase in the quantity supplied of the good as its price rises is expressed a
A: Inferior goods- Inferior goods are those goods whose demand falls when the income of the consumer…
Q: 21. For goods, increase in income leads to increase in demand.
A: Products and resources that meet people's needs and desires are referred to as goods. A good might…
Step by step
Solved in 2 steps
- What is the government budget constraint? How does it help us understandthe causes of high infation?The figure shows the market for blouses. The government decides to impose the sales tax shown in the figure on sellers. Using the figure, how much tax revenue does the government raise? a b с $20,000. $80.000. $60,000. Price (dollars per blouse) d $40,000. 50 40 30 20 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. 10 O 1 2 S + tax on sellers 3 5 Quantity (thousands of blouses)The government of a small country is considering the introduction of a unit subsidy on the production of organic meat as its consumption has been proved to have health benefits. The effect following the introduction of the tax is shown in the graph below. Price per pound of organic meat £28 S1 £24 £20 £17 D Quantity of pounds of organic meat 8,200 10,500 22,000 2. Calculate the unit subsidy on organic meat and the totalamount spent by the government on subsidising its production. You are required to show your workings
- Butter (SAb.) S 1.50 1.00 Q (billions of lbs.) 80 100 130 In order to maintain its price support for butter at $1.50 per pound, the Department of Agriculture stands ready to buy up any surplus butter at that price. With the conditions shown in the diagram above, how much does the price support cost the federal government? Select one: O a. $50 billion. O b. $130 billion. O c. $0 billion, because there is no surplus butter. O d. $75 billion. Check page Finish attempt... MacBook ProPractice midterm questions Review PLEASE IGNORE THIS QUESTION... WE did not cover taxes yet. Consider the supply and demand diagram corresponding to this question. Suppose that a per-unit tax is placed on the good in question equal to $4. What is the new equilibrium quantity exchanged in this market? 10 9 8 7 6 5 Price 4 3 2 SD2 Review 1 0 1 2 3 4 5 Type your numeric answer and submit. 6 7 D S Quantity 8 9 10 11 12 Clo12. Understanding subsidies Suppose that in an attempt to protect its domestic toy industry, Canada's government subsidizes the production or consumption of domestically produced toys by giving each citizen a subsidy card. Each time citizens buy a domestically made toy, they swipe their cards and receive discounts of $8 off the price of a toy. The following graph represents the market for domestically made toys in Canada without any subsidy Adjust the graph to show the effect of the $8 subsidy. CE (Dolan pe a toy) 24 22 20 10 10 14 Supply Demand a Supply D
- 2. Suppose the price.elasticity of demand for commödity M is less than one. When a tax is imposed on commodity Mproduetion, it changes the price, quantity, and consumer speņding in which of the following ways? - Price Quantity Spending Irierease Decrease Decreàse. Therease Ancrease a. Increase- b. -Deerease Decrease Decrease Decrease - Decrease IacreaseTo encourage consumption To discourage production To discourage consumption To encourege consumers to substitute P. 46 E2 40 30 D2 E1 24 D1 100 150 The graph shown portrays a subsidy to buyers. Why might the govemment enact such a policy?After the excise tax is imposed, what is the new equilibrium quantity of sofas? d. What is the total amount of revenue collected by the government from the excise tax on sofas?
- Consider a closed economy. Suppose the market for corn in ABC corp is competitive. The domestic supply and demand fucntion of corn is Qs = 10P-20 and Qd = 180-10P, respectively. Both of them measued in billions of bushels per year. 1. Suppose the govt. uses the price support progam to increase market price by $2 What is the equilibrium price and qty? What is the CS, PS, DWL, and Govt expenditure? Calcute the value and show GRAPHICALLY. 2. Now ignore part1 and consider a small open economy instead. The domenstic supply and demand curves remain the same. Suppose the wrold price is Pw = $6. Suppose the govt impose a tariff of $2 per bushel. What is the equillibrium price and qty? What is the CS, PS, DWL, and Govt expenditure? Calcute the value and show GRAPHICALLY.The equation of demand is Q=10000-5p, supply is Q=-2000+10p Q represents the quantity of houses on the market and P the rental price. The equilibriumrental price equals 800 euros per month. If the government gives people a housing allowance of 300 euros per month,What are the effects of each measure for both house owners and people renting ahouse? And what are the consequences for the government? Analyse the measuresgraphically and mathematically.The equilibrium price of a good is $30. Supply of this good is more elastic than demand. 5uppase the government introduces a tax on the good. in this case, the price receved by producers is $24, and the price paid by consumers is 1.6 times more.Calculate the tax cost per good for the group bearing most of the tax burden if necessary, round any intermediate calculations and your final answer to two decimal places. $______