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I need help on these 2 microeconomic questions: Question 5 (2.5 points) Suppose that construction companies in Canada import cement from the UK. as an
I need help on these 2 microeconomic questions:
Question 5 (2.5 points) Suppose that construction companies in Canada import cement from the UK. as an input in their production. The price of silica fume, a substitute for cement, has recently surged in the UK. because of the disruptions in their supply lines for this product. Given this information and holding everything else constant, you predict that these changes will lead the ______ curve for Canadian construction industry to _____ . O demand; shift to the right 0 demand; shift to the left 0 supply; shift to the left 0 supply; shift to the right Question 6 (2.5 points) Suppose a market for computers is competitive. There are only two consumers: Peyton and Eli. Peyton's demand for computers is given by Q = 5 - P/3, and Eli's demand for computers is given by Q = 3 - P. Which of the following equations describes the market demand equation for the computer market? 0 The market demand curve will have two linear segments: P = 15 - 3Q for prices above $15, and P = 6 3/4Q for prices between $15 and $0. O The market demand curve can be derived by summing the demand function of Peyton and Eli as P = 9 - 2Q for any price level. 0 The market demand curve will have two linear segments: P = 15 - 3Q for prices between $3 and $15, and P = 6 3/4Q for prices between $3 and $0. 0 The market demand curve can be derived by summing the demand function of Peyton and Eli as P = 18 - 4Q for any price levelStep by Step Solution
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