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- Why would demand for steel may decline when demand for aluminum rises? What kind of relationship exists between the two?Silicon is an important input in the production of computer chips. If the price of silicon decreases, then we would expect the supply of computer chips to increase. computer chips to decrease. computer chips to be unaffected. ooo silicon to increase.Assume that trucks are an input into the production of new homes. In the market for new homes, what would we expect to happen if the price of trucks falls? A decrease in the demand for new homes. An increase in the demand for new homes. A decrease in the supply for new homes. An increase in the supply for new homes.
- Show the effect of the following event on the market for gas-powered small cars: The price of electric small cars falls. Price of Gas-powered Small Cars Supply Demand Quantity of Gas-powered Small Cars Demand SupplyWhat are the effects on the equilibrium price and quantity of steel if the wages of steelworkers rise and, simultaneously, the price of aluminum rises?The shift from D to D1 in the graph below represents a(n): Price per Can 60 O Demand Glut Copyright: www.economicsonline.co.uk O increase in Demand decrease in Demand 500 O Supply Shortage 600 D1 Quantity Per week
- Calculate the market demand for the commodity and the equilibrium output and price if the supply function.In what direction does the supply curve shift when technology is improved? Draw this curve.Farmer Brown plants both soybeans and corn. If the price of soybeans increases and the price of corn remains the W. same, what do you expect to happen to the amount of acreage that he devotes to planting each crop? How does your answer help to explain the law of supply? Does the supply curve of corn or soybeans shift? Use graphs to illustrate your answer. Your response should be at least 75-150 words (1-2 paragraphs) in length, including graphs with explanations. houo oin
- The following graph shows the monthly demand and supply curves in the market for calendars. Use the graph input tool to help you answer the following questions. Enter an amount into the Price field to see the quantity demanded and quantity supplied at that price. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Calendars Price (Dollars per calendar) 30 Supply Quantity Demanded Quantity Supplied (Calendars) 500 (Calendars) Demand + sE 0 1 2oe ase e e se QUANTITY (Calendan The equilibrium price in this market is 250 $50 per calendar, and the equilibrium quantity is calendars bought and sold per month. Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and whether this places upward or downward pressure on prices.…What will happen to the demand curve if : a. The demand for the product by labor declines b. The prices of subtitute inputs fall c. The productivity of labor increases d. The wage rate declinesSuppose BMW runs a great ad campaign that increases demand and drives up the price of BMWs. Which of the following do you expect to happen to the equilibrium price and quantity of BMW labor? Pick one of the following: The equilibrium price (wage) and quantity of labor will both decrease. The equilibrium price (wage) will increase while the quantity of labor will decrease. The equilibrium price (wage) will decrease while the quantity of labor will increase. The equilibrium price (wage) and quantity of labor will both increase.