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Anni [7]
3 years ago
11

Using a change in supply and/or demand, explain the following phenomena: a. All else constant, gasoline prices are higher in sum

mer than winter months. b. At the same time that the quality of personal computers has been increasing, the price of personal computers has been falling.
Business
1 answer:
erastovalidia [21]3 years ago
7 0

Answer:

Market Equilibrium is where : Market Demand = Market Supply . Any change in either of these changes the Equilibrium , Eqlbrm price & quantity.  

Since , both the above shifts are linked to 'Change in Demand' , highlightig it  undermentioned:  

Demand : Quantity buyers are able & willing to buy , is affected by Factors - Price , Other Factors [Other Goods price , Income , Taste & preferences ] , Misclaneous (eg - seasonal factors) . Price makes change within the demand curve , other factors change (shift) the demand curve

a) Gasoline used to fuel vehicle combustion engines : faces more usage & demand in summers (seasonal factors) because of  higher air conditioner use . This increase in demand (demand curve rightward shift) and excess demand creates competition among buyers & increases price .

b) Personal Computers : have been facing taste changes against them because of convenience associated with portable laptops . This leads to decrease in demand (demand curve leftward shift ) and excess supply creates competition among sellers & reduces price.

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nirvana33 [79]

Faith bought 6 apples at $.78 each. She paid $4.68 for the apples.


Given : $.78 price for each apple

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4 0
3 years ago
Match the tasks with the professionals who would complete them.
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3 years ago
Suppose that, in a competitive market without government regulations, the equilibrium price of milk is $2.50 per gallon. Complet
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Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

Price ceiling:-This is show the limit of the price on maximizing value of the product which is decided by government and his imposed group for customer.

Binding:-The binding price ceiling is below the equilibrium price.  

Unbinding:-The unbinding price ceiling is above equilibrium price.  

Price floor:-This is show the limit of the price on lower value of the product which is decided by government and his imposed group for customer. A price floor must be higher than the price equilibrium price in order to be effective.  

Binding:-The binding price floor is above the equilibrium price.  

Unbinding:-The unbinding price floor is below the equilibrium price.

It is given that the equilibrium price of milk is $2.50 per gallon.

Statement 1:-This is the example of price floor and binding because minimum price of $2.30 per gallon is decided.

Statement 2:-This is the example of price floor and binding because minimum price of $3.40 per gallon is decided for gasoline.

Statement 3:-This is the example of price floor and binding because teenagers are not hired due to minimum-wage laws.  

7 0
3 years ago
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