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ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework

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ECO 365 Entire Course

https://uopcourses.com/category/eco-365/

 

 

ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework

Review the Week 2 Market Dynamics and Efficiency Quiz in preparation for this assignment. 

Complete the Week 2 Market Dynamics and Efficiency Homework in McGraw-Hill Connect®. These are randomized questions. 

Note: You have only one attempt available to complete assignments. Grades must be transferred manually to eCampus by your instructor. Don't worry, this might happen after the due date.

 

The demand and supply schedules for sunscreen at a small beach are shown below.

 

Market for Sunscreen

Price (dollars per bottle)

Quantity of Sunscreen Demanded (bottles)

Quantity of Sunscreen Supplied (bottles)

$35

1,000

8,500

30

2,000

7,000

25

3,000

5,500

20

4,000

4,000

15

5,000

2,500

10

6,000

1,000

 

Instructions: Enter your answers as a whole number.

 

 

Qd =   bottles

 

     Qs =  bottles

 

     In this case, there would be upward pressure on the price.

 

 

     P =   

 

     Q =  bottles

 

 

The market for ice cream bars on a hot day at the local beach is summarized in the table below.

 

Market for Ice Cream Bars

Price (dollars)

Quantity of Ice Cream Bars Demanded

Quantity of Ice Cream Bars Supplied

$1.40

310

100

 

280

140

 

250

180

 

220

220

 

190

260

 

160

300

 

130

340

 

Instructions: Enter your answer as a whole number.

 

Determine whether there is a surplus or a shortage at a price of $1.80 per ice cream bar, and determine the size of the surplus or shortage.

 

 

 

 

There is a shortage in a market for a product when

Multiple Choice

 

the current price is lower than the equilibrium price.

quantity demanded is lower than quantity supplied.

demand is less than supply.

supply is less than demand.

 

 

Assume that the graphs show a competitive market for the product stated in the question.

 

Select the graph above that best shows the change in the market for leather coats when leather coats become more fashionable among young consumers.

 

Multiple Choice

 

graph (1)

graph (2)

graph (3)

graph (4)

 

 

Use the following graph for the milk market to answer the question below.

There would be excess production of milk whenever the price is

 

Multiple Choice

 

greater than $1.50 per gallon.

greater but not less than $2.00 per gallon.

less but not greater than $2.00 per gallon.

less than $1.50 per gallon.

 

ECO 365 Entire Course https://uopcourses.com/category/eco-365/ ECO 365 Week 2 Apply Market Dynamics and Efficiency Homework Review the Week 2 Market Dynamics and Efficiency Quiz in preparation for this assignment. Complete the Week 2 Marke
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