Label each of the following scenarios with the set of symbols that best indicates the price change and quantity change that occur in the scenario. In some scenarios, it may not be possible from the information given to determine the direction of a particular price change or a particular quantity change. We will symbolize those cases as, respectively, “P?” and “Q?” The four possible combinations of price and quantity changes are:. LO3.5P Q? P? Q
P Q? P?Q
On a hot day, both the demand for lemondae and the supply of lemonade increase.
On a cold day, both the demand for ice cream and the supply of ice cream decrease.
When Hawaii’s Mt. Kilauea erupts violently, the demand on the part of tourists for sigtseeing flights increases but the supply of pilots willing to provide these dangerous flights decreases.
In a hot area of Arizona where they generate a lot of their electicity with wind turbines, the demand for the electricity falls on windy days as people switch off their air conditioners and enjoy the breeze. But at the same time, the amount of electricity supplied increases as the wind turbines spin faster.

Answers

Answer 1
Answer: Here are the following scenarios of Demand and Supply changes that affects price and quantity.

If                                        Then
Demand Increases            Price and Quantity increases
Demand Decreases           Price and Quantity decreases
Supply Increases               Price decreases and Quantity increases
Supply Decreases             Price increases and Quantity decreases
Increase in Demand & Decrease in Supply          Price increases & Quantity is undetermined
Decrease in Demand & Increase in Supply          Price decreases & Quantity is undetermined
Demand & Supply Increases         Price is undetermined & Quantity increases
Demand & Supply Decreases        Price is undetermined & Quantity decreases

1) demand for lemonade and the supply of lemonade increase.
→ P? Q
Price is undetermined and quantity increases.

2) demand for ice cream and the supply of ice cream decrease. 
→ P? Q
Price is undetermined and quantity decreases

3) demand for sightseeing flights increases but the supply of pilots willing to provide these dangerous flights decreases. 
→ P Q?
Price increases and quantity is undetermined

4) demand for the electricity falls but at the same time, the amount of electricity supplied increases 
→ P Q?
Price decreases and quantity is undetermined.

Related Questions

To be successful, an entrepreneur must be willing to invest money, considerable effort, and
Wonder Coffee is a chain of coffee serving outlets and specializes in selling different flavors of coffee. The increase in the price of sugar does not affect Wonder Coffee's coffee prices very much and sales continue at their usual level. Identify the type of demand in this scenario. a. Fluctuating demand O b. Joint demand O c. Inclastic demand O d. Elastic demand
Kristen has done a large amount of research on her company's financial data for the past four years. She has a significant amount of textual explanation related to her research as well as numerous data charts and graphical representations of the data supporting her findings and suggestions. She wants to prepare a printed report of this information to distribute to the managers for a presentation. What software tool would likely be the best fit for her needs?A.) Desktop publishing softwareB.) Database softwareC.) Analytics softwareD.) Word processing software
Before coin and paper money, how did people people exchange goods and services
Which economic indicator would be most useful for figuring out how many goods are being sold to consumers?a. consumer price indexb. retail salesc. new housing constructionc. gross domestic product

Patterson Corporation began the year with retained earnings of $325,000. During the year, the company issued $500,000 of common stock, recorded expenses of $1,500,000, and paid dividends of $90,000. If Patterson’s ending retained earnings was $350,000, what was the company's revenue for the year?A. $1,615,000B. $1,800,000
C. $1,525,000
D. $700,000

Answers

Answer:

The company's revenue for the year is $1,615,000.

The correct option is  A. $1,615,000.

Explanation:

Given:

Patterson Corporation began the year with retained earnings of $325,000. During the year, the company issued $500,000 of common stock, recorded expenses of $1,500,000, and paid dividends of $90,000.

If Patterson’s ending retained earnings was $350,000.

Now, to find the company's revenue for the year.

Opening Retained earnings = $325,000.

Common stock = $500,000.

Recorded expenses = $1,500,000.

Paid dividends = $90,000.

Closing Retained earnings = $350,000.

Now, to get the revenue of the company we put formula:

Revenue = (Recorded expenses + paid dividends + closing Retained earnings) - opening Retained earnings

Revenue=(1500,000+90,000+350,000)-325,000

Revenue=1940000-325000

Revenue=1615,000.

Therefore, the company's revenue for the year is $1,615,000.

The correct option is  A. $1,615,000.

What is the best way to put together a business plan ?

Answers

The best way to put together a business plan is first to do a comprehensive research on the type of business you are going to set up and study the industry you would like to enter into. The business plan should consist of the following key elements:

1.      Company overview that includes the company’s mission and vision, products or services, unique characteristic of the product and the business opportunities.

2.      Study of the business environment that includes industry, market, competition and target market analysis

3.      Company description that introduces the management team, technology used, operations, products or services  and distribution

4.      Company strategy which is the roadmap to achieving the company’s targets and goals

5.      Financial review that shows  the condition of the company that includes, the financial statements such as the balance sheet, income statement, cash flow statement and projections

6.      Detailed action plan that is doable, realistic and can work within a specific time frame

Curtis invests $250,000 in a city of athens bond that pays 7% interest. alternatively, curtis could have invested the $250,000 in a bond recently issued by initech, inc. that pays 9% interest with similar risk as the city of athens bond. assume that curtis's marginal tax rate is 28%.

Answers

I guess the correct answer is 6.48%

If Curtis invested in the Initech, Inc. bonds, The after-tax rate of return from this investment is 6.48%.

Since, [(1 - 0.28) × (250,000 × .09)]/250,000 = .0648.

Jill plans to publish a book based on her experiences to inspire young entrepreneurs. to help protect her publishing rights, she should register a ____.

Answers

To help protect her publishing rights, she should register a "copyright".


In a general sense, copyright is a law that gives you ownership for things you make. Be it a depiction, a photo, a lyric or a novel, on the off chance that you made it, you claim it and it's simply the copyright law that guarantees that proprietorship. The possession that copyright law gifts accompanies a few rights that you, as the proprietor, have exclusively.

Which feature is characteristic of a market economy?A) Government provides basic goods.

B) Self-interest motivates buyers.

C) People have less economic freedom.

D) People have no property rights

Answers

The answer is B.

The 5 characteristics of a market economy are ability to own private property, freedom of economic choice, motivation by self interest, competition and limited government intervention. A sounds more socialist, as that would imply the government supplies the people with goods such as food, instead of leaving it to private enterprise.

Hope this helps.

Characteristic of a market economy is self-interest motivates buyers.  

Further explanation

A Market economy is an economic system regulated by supply and demand, not the government. Most of the resources, equipment, buildings, goods, and services in a market economy own by individual and private business. Most economic decisions are made by buyers and sellers, not the government.

Characteristics of market economy are:  

  1. Private ownership: Most of the resources, goods, and services are owned by individual or private sectors.  
  2. Freedom of choice and free enterprise: Entrepreneurs have the freedom to get and use their resources. Consumers are free to buy goods and services to fill their need.  
  3. The motive of self-interest: Entrepreneurs try to get the highest profits for their businesses. On the other hand, consumers try to get the greatest benefits from their budgets.
  4. Competition: competition ensures greater quality and lower prices for consumers .
  5. A system of markets and prices  

Another type of economic system is a market economy, traditional economy, and a mixed economic system. Nowadays, many command economies began adding aspects of the market economy, we call it a mixed economic system.

Learn more

The goal of the command economy brainly.com/question/1362251

Characteristic of a command economy brainly.com/question/2065265

The function of the economic system brainly.com/question/12060180

Keywords: command economy, central government, characteristic of a command economy, economic system

RE: Subaru While Japanese Yen sharply appreciated against US$, Subaru continued to manufacture most of their cars in Japan, then exported from that point. This turned out to be great for Subaru because:

Answers

Answer:

Yen depreciated its value against US$

Explanation:

The reason was that the Japanese government has a free trade agreement with the United States and what happened was that the Yen appreciated against Dollars by which the Japanese companies might had suffered as the american products would have been imported more to the country because now they are cheaper than the Japanese cars, as a result the industry in the Japan would had suffered. So the government of japan set 115 Yen as apposed to 85 Yen against each dollars which resulted in increase in the demand of the manufacturing of the cars. Now the Japanese products were greater in demand because of they cost less. And at the year end 2015, the Sabaru reported $2 billion profit despite the fact that 80% of its production was in Japan. The american auto suffered loss of market by $2 Billion.