1200 words total……………3 scholarly sources…………no plagiarism<\/p>\n
1. Explain the difference between a change in quantity demanded and a change in demand. What variable(s) must change for there to be a change in quantity demanded? What variables(s) must change for there to be a change in demand?<\/p>\n
Questions 2-5 give scenarios will shift demand in the market for cable television in a particular city. Briefly answer the following questions for each scenario.<\/p>\n
(a) Which of the demand shifter variables (PYNTE) is affected?<\/p>\n
(b) Will demand increase or decrease as a result of the change?<\/p>\n
(c) Which way does the demand curve shift (right or left)?<\/p>\n
(d) Assuming supply remains the same, what happens to equilibrium price and quantity after the shift? Will they increase or decrease?<\/p>\n 2. <\/span>A booming economy increases the income of consumers.<\/p>\n 3. The cable company becomes known for poor customer service.<\/p>\n 4. The price of satellite television service decreases.<\/p>\n 5. <\/span>A large number of people move into the city.<\/p>\n Questions 6-9 give scenarios will shift supply in the market for gas-powered automobiles. Briefly answer the following questions for each scenario.<\/p>\n (a) Which of the supply shifter variables (SPENT) is affected?<\/p>\n (b) Will supply increase or decrease as a result of the change?<\/p>\n (c) Which way does the supply curve shift (right or left)?<\/p>\n (d) Assuming demand remains the same, what happens to equilibrium price and quantity after the shift? Will they increase or decrease?<\/p>\n 6. A new machine makes producing cars quicker and easier.<\/p>\n 7. Congress passes a law which requires car manufacturers to reduce emissions during the manufacturing process.<\/p>\n 8. A large firm goes bankrupt and closes.<\/p>\n 9. Car manufacturers expect the price of cars to fall next month.<\/p>\n 10. What is meant by a \u201cbinding price floor?\u201d Give an example and explain how a binding price floor affects the market equilibrium. <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/span><\/p><\/p>\n","protected":false},"excerpt":{"rendered":" 1200 words total……………3 scholarly sources…………no plagiarism 1. Explain the difference between a change in quantity demanded and a change in demand. What variable(s) must change for there to be a change in quantity demanded? What variables(s) must change for there to be a change in demand? Questions 2-5 give scenarios will shift demand in the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/149838"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=149838"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/149838\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=149838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=149838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=149838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}