Given the market for this normal good starts at equilibrium point (Q1, P1), click on the new equilibrium that would occur if consumer incomes increased and worker productivity increased. Price ($) P₁ S
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- Walmart recently asked Mondelez, owner of Oreos to bring back a new-and-improved version of its 1990's cereal, Oreo O's. By studying social media comments, Walmart discovered a preference for cereal to address late-night snacking. What should Walmart measure during the initial 90-day relaunch, exclusive to its stores? At what level should it measure, and why?The demand equation for a particular candy bar is px + x + 20p = 3000where 1000x candy bars are demanded per week when p cents is the price per bar. If the current price of the candy is 49 cents per bar and the price per bar is increasing at the rate of 0.2 cent each week, find the rate of change in the demand.From the demand function Qdx = 22 + 2Px (Px is given in dollars), derive (a) the individual’s demand schedule fast.
- If the supply schedule for tin is relatively inelastic to price changes , a decrease in the demand schedule for tin-will cause a: a) Increase in price and a increase in sales revenue. b)Increase in price and decrease in sales revenue. c)Decrease in price and increase in sales revenue. d) Decrease in price and a decrease in sales revenue.*4* When the price of product "X" is (P1=) $42, Shyanne purchases 20 units of product "X" and when the price of product "X" is (P2=) $38, she purchases 30 units of product "X". Shyanne's "arc" price elasticity of demand for product "X" is (Ex,x =): O" -0.25 " and the demand for "X" is relatively elastic. -4.00 " and the demand for "X" is relatively inelastic. O"-0.25 " and the demand for "X" is relatively inelastic. O " -4.00 " and the demand for "X" is relatively elastic. -0.25 " and "X" is a "normal" good. Save & Continue Continue without savingThe demand x is the number of items that can be sold at a price of $p. For x = p" - 3p° + 1500, find the rate of change of p with respect to x by differentiating implicitly. The rate of change of the price p with respect to the demand x is
- *4* When the price of product "X" is (P1=) $42, Shyanne purchases 20 units of product "X" and when the price of product "X" is (P2=) $38, she purchases 30 units of product "X". Shyanne's "arc" price elasticity of demand for product "X" is (Ex,x =): -0.25 " and the demand for "X" is relatively elastic. -4.00 " and the demand for "X" is relatively inelastic. " -0.25 " and the demand for "X" is relatively inelastic. " -4.00 " and the demand for "X" is relatively elastic. " -0.25 " and "X" is a "normal" good. Save & Continue Continue without savThe demand equation for a particular candy bar is px + x + 20p = 3000 where 1000x candy bars are demanded per week when p cents is the price per bar. If the current price of the candy is 49 cents per bar and the price per bar is increasing at the rate of 0.2 cents each week, find the rate of change in the demand.Earlier this year, 2021, the price of chicken meat rose unexpectedly reached to 250/ kilo at peak from the previous price of 170/ kilo. This 68% increase of price per kilo was primarily caused by excess demand for chicken meat. This is the result of the decrease in consumption for pork meat due to the threat of African Swine Flu (ASF). However, even though consumer shifted preferences, the increase in the price of chicken was perceived to be too high for the budget of consumers. Therefore, sellers realized decrease in their daily aggregate sales from 1,000 kilos to 700 kilos. Illustrate the change in the market equilibrium through a graph. What presumably happened to the total revenues of the sellers during the = price hike period? Compute the price elasticity of demand. Derive the total revenue before the hike (TR1), and after the hike (TR2).
- Earlier this year, 2021, the price of chicken meat rose unexpectedly reached to 250/ kilo at peak from the previous price of 170/ kilo. This 68% increase of price per kilo was primarily caused by excess demand for chicken meat. This is the result of the decrease in consumption for pork meat due to the threat of African Swine Flu (ASF). However, even though consumer shifted preferences, the increase in the price of chicken was perceived to be too high for the budget of consumers. Therefore, sellers realized decrease in their daily aggregate sales from 1,000 kilos to 700 kilos. 1. Illustrate the change in the market equilibrium through a graph. 2. What presumably happened to the total revenues of the sellers during the price hike period? a.) Compute the price elasticity of demand b.) Derive the total revenue before the hike (TR1), and after the hike (TR2).In the following question(s) you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X, (2) the equilibrium price (P) of X and (3) the equilibrium quantity (Q) of X. Refer to the above. An increase in the price of a product that is a close substitute for X will: Group of answer choices a. decrease D, increase P, and decrease Q. b. increase D, increase P, and decrease Q. c. increase D, increase P, and increase Q. d. increase D, decrease P, and increase Q.Determine the equilibrium quantities of commodities x and z for a consumer whose total utility (U) and other relevant variables are given below; U = 20x +4z 2 + 40z +x2 Income level Y = Ksh.48, Price of Price ofx px = ksh.2, z pz =ksh.4
