Q-1.Explain each of the following statements using supply-and-demand diagrams…. 1 answer below »


Q-1.Explain each of the forthcoming propositions using give-and-exact diagrams.

a. “When a composed split hits Florida, the appraisement of orange-colored-colored juice rises in supermarkets through out the kingdom.”

b. “When the temperature turns animated in New Englandevery summer, the appraisement of tavern rooms in Caribbean resorts plummets.”

c. “When a war breaks out in the Middle East, theappraisement of gasoline rises and the appraisement of a used Cadillac falls.”

Q-2. “An acception in the exact for notebooks raises themeasure of notebooks exacted but not the measuresupplied.” Is this proposition penny or fallacious? Explain.

Q-3. Consider the traffic for minivans. For each of theevents listed near, establish which of thedeterminantsof exact or give are abnormal. Also denote whether exact or give acceptions or decreases.Then haul a diagram to profession the issue on the appraisement and measure of minivans.

a. People flow to accept further upshot.

b. A insert by steelworkers raises steel appraisements.

c. Engineers amplify new automated machinery for the formation of minivans.

d. The appraisement of sports advantageousness vehicles rises.

e. A fund traffic clang lowers people’s affluence.

Q-4. Consider the traffics for film streamingservices,TVscreens, and tickets at movie theaters.

a. For each brace, establish whether theyarecomplements or substitutes:

• Film streaming and TV screens

• Film streaming and movie tickets

• TV screens and movie tickets

b. Suppose a technological remove reduces the absorbof manufacturing TV screens. Haul a diagram toprofession what happens in the traffic for TV screens.

c. Haul two further diagrams to profession how thechange in the traffic for TV screens affects themarkets for film streaming and movie tickets.

Q-5. Over the gone-by 40 years, technological removes accept abject the absorb of computer chips. How do you judge this has abnormal the traffic for computers?For computer software? For typewriters?

Q-6. Using give-and-exact diagrams, profession the issueof the forthcoming events on the traffic forsweatshirts.

a. A burst in South Carolina expiation the cotton product.

b. The appraisement of leather jackets falls.

c. All colleges exact waking use in withhold robes.

d. New knitting machines are affected.

Q-7.The traffic for pizza has the forthcoming exact andgive schedules:

Price

Quantity Demanded

Quantity Supplied

4

135

26

5

104

53

6

81

81

7

68

98

8

53

110

9

39

121

a.Graph the exact and give curves. What arethe makeweight appraisement and measure in this traffic?

b. If the developed appraisement in this traffic were over themakeweight appraisement, what would importune the traffic inside the makeweight?

c. If the developed appraisement in this traffic were under themakeweight appraisement, what would importune the traffic inside the makeweight?