Which of the following will not cause a shift in the demand curve for new houses? Select one: A. A rise in the income of potential buyers B. A discount of £10,000 on the price of new houses C. A fall in private sector rents D. A rise in council rents
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Which of the following will not cause a shift in the
Select one:
A. A rise in the income of potential buyers
B. A discount of £10,000 on the
C. A fall in private sector rents
D. A rise in council rents
Step by step
Solved in 3 steps
- To rent or to buy? These are questions individual consumers face when deciding where to live. Explain, with the aid of graphs, what would happen to the demand/quantity demanded for both purchased and rental properties if the price of rental properties increases, ceteris paribus.The following table shows the demand and supply of tickets of a football game which will be held at Shah Alam Stadium. Unit Price (RM) Market Demand (units) Market Supply (units) 20 5000 3500 40 4000 3500 60 3000 3500 80 2000 3500 100 1000 3500 a) On your foolscap paper, draw the demand and supply curves. Label all axes, all curves and the equilibrium point. (6m) b) How much is the equilibrium price and equilibrium quantity? (2m) c) At which price will there be a surplus of 2500 tickets? (1m) d) What will happen when the market price is RM40? Show your answer on the same diagram. (3m) e) Why is the supply of tickets fixed at 3500? (1m)If the rent is fixed below the equilibrium level, what would be the effect on the supply of houses? a. There will be no supply of houses b. Supply for house decreases c. No change in the supply of houses d. Supply for house increase
- What determines the market area of a shopping centre?Task 2 - Below is a hypothetical demand and supply for apartments. Answer the following questions below using as basis the schedule given: Number of Apts. Number of Apts. Supplied/Month Rent/Month (Php) Demanded/Month 1 120,000 200 100,000 20,000 400 80,000 40,000 600 60,000 60,000 800 40,000 80,000 1000 20,000 100,000 1200 120,000 1. Draw the demand and supply curves for apartments using the schedule above. 2. What is the equilibrium rent per month? At this rent, what is the number of apartments demanded and supplied per month? 3. At P400 rent per month what will be the demand and supply of apartments? Will there be a surplus or shortage of supply? Explain your answer. 4. At 800 rent per month what will be the demand and supply of apartments? Will there be a surplus or shortage of supply? Explain your answer.what are Factors affecting the demand of gasoline
- What are the factors that decrease supply of houses? Draw Supply and demand graph and show what happens to the prices and quantity of houses if the prices of raw materials increase?Which of the following will not lead to a decrease in the demand for petrol? A. An increase in price of motor cars B. A decrease in consumers' income C. An expected fall in the price of petrol D. An increase in the price of petrolPrice ($/cup) 4 3.5 3 2.5 2 1.5 1 0.5 0 0 10 20 Original Supply A decrease in the price of coffee beans. New Demand Original Demand 30 40 50 60 70 80 90 Quantity (cups/hour) New Supply The figure above refers to the market for coffee. What might cause a shift from the original demand curve to the new demand curve? Check all that apply. An increase in the price of tea (a substitute for coffee). A decrease in income if coffee is an inferior good. An expectation that coffee prices will fall in the future. A decrease in the price of cream (a complement to coffee)
- Which of the following would NOT decrease the demand for steak? A. a fall in the price of chicken (a substitute) B. a rise in the price of steak C. a rise in the price of potatoes (a complement) D. a decrease in consumer income (assume steak is a normal good) E. all of the above WILL decrease the demand for steak 10.Describe how each of the following will affect the demand for hybrid cars: A. A rise in income (assuming that hybrid cars are a normal good) B. Consumers prices of hybrid cars to fall in the future. C. The price of gasoline rises. D. Increased number of campaigns in favor of protecting the environment.How does the equilibrium price and quantity change when here are bad rumors about a product? Are there any changes or none? Provide a graph of your answer