Could you solve the questions please? THANK YOU SO MUCH!!!
Assume the gure to the right illustrates the market for houses for sale in a small city. Suppose the market price of houses is $200,000. How large will the resulting surplus be? At a price of $200,000, there will be a whole number.) surplus houses. (Enter your response as 600 300 1000 1200 Quantity (houses) In the diagram to the right, when demand decreases develops at the original price. Equilibrium price will and equilibrium qui a new equilibrium is established. a shortage S a surplus Price (dollars per unit) an equilibrium A B D1 D 2 Quantity (millions of units per month)In the diagram to the right, when demand decreases, develops at the original price. Equilibrium price will and equilibrium quantity will as a new equilibrium is est S not change Price (dollars per unit) A fall B rise D1 D 2 Quantity (millions of units per month)In the diagram to the right, when demand decreases develops at the original price. Equilibrium price will and equilibrium quantity will as a new equilibrium is established. S rise Price ( dollars per unit) A not change B fall D1 D 2 Quantity (millions of units per month)Consider the market for college textbooks illustrated in the figure. + Suppose a recent economic recession has resulted in S1 less income for college students. In the figure to the right, show how this has likely affected the market for college textbooks. 1.) Using the line drawing tool, draw either a new supply curve (S2) or a new demand curve (D2). Properly label your line. P1..... Price (dollars per book) 2.) Using the point drawing tool, indicate the new market equilibrium (ez). Carefully follow the instructions above, and only draw the required objects. D 1 Q1 Quantity (textbooks)In the diagram, when supply increases develops at the original price. Equilibrium price will and e as a new equilibrium is established. an equilibrium a surplus Price (dollars per units) a shortage D Quantity (millions of units per month)In the diagram, when supply increases, Y develops at the original price. Equilibrium pn'ce will i and equilibrium quantity will i as a new equilibrium is est - rise not change Price dollars er units fall Quantity (millions of units per month) In the diagram, when supply increases, develops at the original price. Equilibrium price will and equilibrium quantity will as a new equilibrium is established. rise Price ( dollars per units) fall not change D Quantity (millions of units per month)Consider the market for MP3 players, illustrated in the figure to the right. The market is initially in equilibrium at a price of $70 and at a quantity of 250 150- (thousand) players. 140- 130- Suppose there is a positive change in technology. 120- S1 Use the line drawing tool to show how this affects the MP3 market by adding 110- either a new supply curve or a new demand curve. Carefully follow the instructions above, and only draw the required objects. Price of MP3 Players . . .. . D1 0 50 100 150 200 250 300 350 400 450 500 Quantity of MP3 Players (in thousands)Consider the market for LCD TVs, illustrated in the figure to the right. 30007 Use the point drawing tool to identify the market equilibrium. Properly label this point 2600- Carefully follow the instructions above, and only draw the required objects. 2200- S 1800- Price of LCD TVs 1400- 1000- 600- 200- D 2000 4000 6000 8000 10000 Quantity of LCD TVsIn the diagram to the right. when the price is $29 per player, the amount of the Y is million players per month. surplus shortage Price (dollars per unit) 010 20 30 40 5O 60 TD 80 90100 Quantity (millions of units per month) The figure to the right illustrates the U.S. market for rugs made in a particular foreign country. 3,000- Suppose the market price of rugs is $750. 2,750- Supply At a price of $750, there will be 2,500- of rugs. 2,250- 2,000- 1,750- a surplus 1,500- neither a shortage nor a surplus a shortage Demand 6 8 9 10 11 12 Quantity (rugs in 1000s)Use the line drawing tool to draw a supply line shifting to the right. Label this line 'S?' 51 Carefully follow the instructions above, and only draw the required object. Price D1 Quantity (per day)Refer to the diagram to the right: Use the ne drawing tool to draw a demand curve shifting to the left. Label this line 'D2'_ Carefuh'y follow the instructions above, and oniy draw the required objects. Price Quantity (per week) Refer to the diagram: 1.} Use the line drawing root to draw a demand curve that shifts to the right. Label this line 'D2'_ 2.} Use the line drawing root to draw a supply curve that shifts to the rig ht by more than the demand line. Label this line '82'. 3.} Use the point drawing root to identify the new point of equilibrium. Label this point Carefuii'y foiiow the instructions above, and onlyr drew the required object's. Quantity iper day) Below are the supply and demand functions for two markets. One of the markets is for Tesla automobiles, and the other is for a cancer-ghting drug, without which lung cancer patients will die. Figure 1 Q Figure 2 9' D :31 Q 1 51 Q I3 I3 xi ii I D1 Quantity (per week) Quantity (per week) Which diagram represents the cancerghting drug? : Why? Figure 1 Figure 2 Suppose the price of a complement to LCD televisions falls. What effect will this have on the market equilibrium for LCD TVs? The equilibrium price of LCD TVs will 0 A. increase and the equilibrium quantity will decrease. O B. decrease and the equilibrium quantity:r will increase. 0 C. not change and the equilibrium quantity will not change. 0 D. decrease and the equilibrium quantity:r will decrease. O E. increase and the equilibrium quantity will increase
