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Microchips used to produce smartphones have become more powerful and less costly to produce. How would supply or demand shift and how would equilibrium price
Microchips used to produce smartphones have become
more powerful and less costly to produce. How would
supply or demand shift and how would equilibrium price
and quantity change?
Consider the market for crude oil. Draw and label the
diagram.
a What happens in the market if Russia cuts off oil
shipments in response to the conflict in Ukraine? Draw
and explain.
b What happens in the market if the United States
mandates that only electric cars be used? Draw and
explain.
c What happens in the market if the United States
mandates that only electric cars be used? Draw and
explain.
d What happens in the market if OPEC increases oil
production by twenty percent? Draw and explain.
e What happens in the market if The United Kingdom
decides to total stop using oil? Hint: Consider the size of
the United Kingdom market Draw and explain.
Explain and use diagrams to show what has been
happening in the United States market for fresh eggs.
Explain and use diagrams to show what happens in the
market for international airline travel if
a There is a worldwide recession.
b The price of airline fuel increases substantially.
c Norwegian Airlines adds more US cities to its list of
international flight destinations.
d The war in Ukraine makes international travel more
dangerous.
Many nurses in New York recently received substantial
increases in pay. Draw and explain what happened using
"before" and "after" diagrams.
What is the expected impact of increased security measures
imposed by the federal government on a airline fares and
b volume of travel. Demonstrate your answers
graphically.
Popeye recently received a significant boost in his income.
As a result, he started eating a lot less spinach. What
happened to Popeye's demand curve? Why?
More US cities start offering free addictive drug
maintenance facilities. What would that do to the supply
and demand for drugs? Illustrate.
More and more unskilled migrants come into the United
States. a Explain and use diagrams to show what happens
in the labor market for unskilled workers. b Who benefits
from this change and who is hurt by it
You purchase a ticket to the Broadway musical
"Hamilton" through a verified reseller for $ When your
ticket arrives, you see that the face value printed on the
ticket is $ Based on this transaction is the face value
above, below or equal to the equilibrium price? How do
you know?
Why does the price of airline tickets rise during the
summer months? Demonstrate your answer graphically.
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