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    for each of the following events, identify which of the determinants of demand or supply are affected. if demand is unaffected by this event because it creates only a supply change, select the “none” option under the “demand determinant” column. similarly, if supply is unaffected by this event because it creates only a demand change, select the “none” option under the “supply determinant” column.

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    get for each of the following events, identify which of the determinants of demand or supply are affected. if demand is unaffected by this event because it creates only a supply change, select the “none” option under the “demand determinant” column. similarly, if supply is unaffected by this event because it creates only a demand change, select the “none” option under the “supply determinant” column. from EN Bilgi.

    For each of the following events, identify which of the determinants of demand or supply are

    Find an answer to your question For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected b…

    Answer:

    (1) Demand Determinant - No. of buyers

    Supply Determinant - None

    When people decided to have more children then this will result in more number of buyers. This will affect the demand for a particular good and shifts the demand curve towards right.

    (2)Supply Determinant - Input prices

    Demand Determinant - None

    Steel is an input for the firms and if there is an increase in the price of steel then as a result cost of production increases which results in lower supply for their product.

    (3) Supply Determinant - Technology

    Demand Determinant - None

    New technology will increase the productivity of the firms and hence, increase the supply of the products.

    (4) Demand Determinant - Price of substitute or complimentary goods

    Supply Determinant - None

    If the price of substitute good rises then as a result demand for minivans increases. This will shift the demand curve rightwards.

    (5) Demand Determinant - Income

    Supply Determinant - None

    Decrease in the wealth of the consumers will result in lower demand for the minivans. Therefore, demand curve shifts leftwards.

    For each of the following events, identify which of the determinants of demand or supply are

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    Answered: Corisiuer tie market ior minivaris.…

    Solution for Corisiuer tie market ior minivaris. ASsume iminivaris are a normai goou. For each of the following events, identify which of the determinants of…

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    Corisiuer tie market ior minivaris. ASsume iminivaris are a normai goou. For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the "None" option under the "Supply Determinant" column. Event Demand Determinant Supply Determinant People decide to have more children. A strike by steelworkers raises steel prices. Engineers develop new automated machinery for the production of minivans. The price of sports utility vehicles rises. A stock-market crash lowers people's wealth. Show the effect of the following event on the market for minivans: People decide to have more children. (? Supply Demand Supply Demand Quantity of Minivans Price of Minivans

    Corisiuer tie market ior minivaris. ASsume iminivaris are a normai goou.
For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it
creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event
because it creates only a demand change, select the "None" option under the "Supply Determinant" column.
Event
Demand Determinant
Supply Determinant
People decide to have more children.
A strike by steelworkers raises steel prices.
Engineers develop new automated machinery for the production of
minivans.
The price of sports utility vehicles rises.
A stock-market crash lowers people's wealth.
Show the effect of the following event on the market for minivans: People decide to have more children.
(?
Supply
Demand
Supply
Demand
Quantity of Minivans
Price of Minivans

    Corisiuer tie market ior minivaris. ASsume iminivaris are a normai goou. For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the "None" option under the "Supply Determinant" column. Event Demand Determinant Supply Determinant People decide to have more children. A strike by steelworkers raises steel prices. Engineers develop new automated machinery for the production of minivans. The price of sports utility vehicles rises. A stock-market crash lowers people's wealth. Show the effect of the following event on the market for minivans: People decide to have more children. (? Supply Demand Supply Demand Quantity of Minivans Price of Minivans

    Corisiuer tie market ior minivaris. ASsume iminivaris are a normai goou. For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the "None" option under the "Supply Determinant" column. Event Demand Determinant Supply Determinant People decide to have more children. A strike by steelworkers raises steel prices. Engineers develop new automated machinery for the production of minivans. The price of sports utility vehicles rises. A stock-market crash lowers people's wealth. Show the effect of the following event on the market for minivans: People decide to have more children. (? Supply Demand Supply Demand Quantity of Minivans Price of Minivans

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    Answered: Corisiuer tie market ior minivaris.…

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    SOLVED:"Consider the market for electric cars Assume electric cars are norma good For each of the following events, identify which of the determinants of demand or supply are affected, If demand unaffected bY this event because creates only supply change, select the None option under the Demand Determinant column. Similarly, if supply unaffected py this event because i Creates only demand change selec

    analyzing the market forces of supply and demand. We're taking a look at the minivan market, and we have a number of scenarios. A through E. We want to determine how the overall equilibrium of this minivan market is impacted due to these changes. So let's start with part A, and what we're told is that people have more Children. So as a result, what we could expect is that the demand for these minivans should increase right. People have more Children. They're going to have more need for these. These minivans, these vehicles that can hold all of their Children. So we're going to see this increase in our equilibrium. So as a result, our quantity is going to increase, as is our price. Now Part B. Taking a look at an example where suppose steel workers go on strike and as a result, steel prices rise well, knowing that steel is one of the production inputs for producing minivans, we could expect that supply is going to decrease as a result of these lower as a result of these higher steel prices as well as probably there shortage of labor, considering if all of their workers are on strike. They don't have people to produce this or to produce the vehicles. So our supply is going to decrease. And as a result, we are going to see our equilibrium shift. Our quantity is going to decrease, and our price is going to increase part C here. Now we're supposing that some new automated machinery is developed for minivan production, and with this it makes sense to think that well, if they have automated machinery, they can probably produce more minivans as a result. So we're likely to see Here is an increase in supply as it becomes easier to produce these minivans. And here are equilibrium shifts again, we're going to see this increase in our quantity and a decrease in price part. Do you suppose that SUV prices rise so understanding that a minivan is not considered an SUV and SUV prices rise? People are probably likely to demand more minivans in place of SUVs. If we were to consider these two substitutes. So because SUV prices have gone up, we can expect that the demand for minivans is going to rise as a result of the decrease in demand for these SUVs. So our demand shifts our equilibrium changes, we see an increase in the quantity as well as an increase in the price in the market for minivans. Now Part e going to scroll down. Supposing that people's wealth is lower due to a stock market crash. So the market crashes, People lose some money in it and their wealth is decreased. So as a result of lower wealth, people are going to struggle to afford more. Minivans are likely to put their money elsewhere instead of purchasing new minivans. So we're probably going to see a decline in the demand for these minivans. So the demand is going to drop, and we're going to see our equilibrium shift with a decrease in quantity and a decrease in price in the market for minivans.

    Amanda S.

    Macroeconomics

    3 weeks, 5 days ago

    "Consider the market for electric cars Assume electric cars are norma good For each of the following events, identify which of the determinants of demand or supply are affected, If demand unaffected bY this event because creates only supply change, select the None option under the Demand Determinant column. Similarly, if supply unaffected py this event because i Creates only demand change selec- the 'None option under the Supply Determinant column Event Demand Determinant Supply Determinant Engineers develop new automated machinery for the production of ectric cars_ People increase their concern for the environment: An economic boom raises people'$ wealth. strike by aluminum workers raises the price of aluminum The price of gas-powered cars falls"

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    Answer

    Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw a diagram to show the effect on the price and quantity of minivans. a. People decide to have more children. b. A strike by steelworkers raises steel prices. c. Engineers develop new automated machinery for the production of minivans. d. The price of sports utility vehicles rises. e. A stock market crash lowers people's wealth.

    Book Cover for Principles of Econo…

    Principles of Economics

    Chapter 4

    The Market Forces of Supply and Demand

    Discussion

    Video Transcript

    analyzing the market forces of supply and demand. We're taking a look at the minivan market, and we have a number of scenarios. A through E. We want to determine how the overall equilibrium of this minivan market is impacted due to these changes. So let's start with part A, and what we're told is that people have more Children. So as a result, what we could expect is that the demand for these minivans should increase right. People have more Children. They're going to have more need for these. These minivans, these vehicles that can hold all of their Children. So we're going to see this increase in our equilibrium. So as a result, our quantity is going to increase, as is our price. Now Part B. Taking a look at an example where suppose steel workers go on strike and as a result, steel prices rise well, knowing that steel is one of the production inputs for producing minivans, we could expect that supply is going to decrease as a result of these lower as a result of these higher steel prices as well as probably there shortage of labor, considering if all of their workers are on strike. They don't have people to produce this or to produce the vehicles. So our supply is going to decrease. And as a result, we are going to see our equilibrium shift. Our quantity is going to decrease, and our price is going to increase part C here. Now we're supposing that some new automated machinery is developed for minivan production, and with this it makes sense to think that well, if they have automated machinery, they can probably produce more minivans as a result. So we're likely to see Here is an increase in supply as it becomes easier to produce these minivans. And here are equilibrium shifts again, we're going to see this increase in our quantity and a decrease in price part. Do you suppose that SUV prices rise so understanding that a minivan is not considered an SUV and SUV prices rise? People are probably likely to demand more minivans in place of SUVs. If we were to consider these two substitutes. So because SUV prices have gone up, we can expect that the demand for minivans is going to rise as a result of the decrease in demand for these SUVs. So our demand shifts our equilibrium changes, we see an increase in the quantity as well as an increase in the price in the market for minivans. Now Part e going to scroll down. Supposing that people's wealth is lower due to a stock market crash. So the market crashes, People lose some money in it and their wealth is decreased. So as a result of lower wealth, people are going to struggle to afford more. Minivans are likely to put their money elsewhere instead of purchasing new minivans. So we're probably going to see a decline in the demand for these minivans. So the demand is going to drop, and we're going to see our equilibrium shift with a decrease in quantity and a decrease in price in the market for minivans.

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