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An example of how a supply shift may shift positively (to the right) or negatively (to the left).
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- Explain the difference between a movement along a supply curve and a shift in the supply curve.Complete the following. Note that several factors are listed in the book. For each factor, be sure to tell how it will shift the curve. Name some factors that can cause a shift in the demand curve in markets for goods and services. Name some factors that can cause a shift in the supply curve in markets for goods and services.Identify ALL the factors that can shift a supply curve? and Explain briefly how each factor impacts the respective supply curve?
- What are five things that will shift a supply curve to the right?I have this question: "Given the following scenario, graph the impact on supply and demand (use two separate graphs - one for the change in demand and one for the change in supply). During the holiday season, the wage rate for passenger train engineers increases,and more consumers are using rail transportation to join family and friends for the holidays. Identify the demand and supply shifter that causes the change in the Passenger Railway Market. Supply stays the same and demand shifts to the right because the only thing that changed were the engineers' wages right? This leaves the demand as the supply shifter?"Graphically show how each of the following shifts the supply curve. Also identify which factor of supply is being affected in each case. What happens to the supply of Cigarettes when a tax is withdrawn?
- For each of the events described below you are required to explain the market you are representing(labour market ,automotive market). Does the events act on the demand side,supply side or both sides of the market Does the events lead to a quantity or price change or does the event lead to a shift in the demand ,supply or both Make sure to explicit what sort of assumption you are making on the elasticities of demand and supply ( plotting your demand and supply, describe whether you are assuming an elastic or inelastic demand/supply). 1. The implementation of a maximum rent program in the housing rental market 2. The implementation of a minimum wages 3.the implementation of subsidies to agriculture production in Australia 4.the implementation of a carbon tax in the economy. A carbon tax is charged according to the level of emission of greenhouse gases in an economy 5.the implementation of a new loan program to university students in the education sector.Using supply-and-demand diagrams explain how the following events would affect the supply or demand in each market (draw the original demand and supply and in the same graph draw the NEW demand or supply-showing your shifts) and how the quantity and price of in equilibrium will be affected: a) An ongoing, chronic shortage of long-haul drivers is creating major issues with trucking capacity, leading to delays when transporting goods across countries. Also, because building materials like steel beams, concrete slabs, pipes, logs, etc. are large and very heavy, it’s common for companies to use oversized flatbed fleet trucks or tractor trailer fleet trucks to ship them around the country. What happens in the market of building materials due to this event? b) What happens in the market for ramen noodle soup if: there is a world-wide recession that decreases consumers' incomes (assume ramen noodle soup is an inferior good)?Using supply-and-demand diagrams explain how the following events would affect the supply or demand in each market (draw the original demand and supply and in the same graph draw the NEW demand or supply-showing your shifts) and how the quantity and price of in equilibrium will be affected: a) An ongoing, chronic shortage of long-haul drivers is creating major issues with trucking capacity, leading to delays when transporting goods across countries. Also, because building materials like steel beams, concrete slabs, pipes, logs, etc. are large and very heavy, it’s common for companies to use oversized flatbed fleet trucks or tractor trailer fleet trucks to ship them around the country. What happens in the market of building materials due to this event? b) What happens in the market for store brand sodas if: there is a world-wide recession that decreases consumers' incomes (assume ramen noodles are an inferior good)?
