Posted: June 20th, 2024

Explain what would happen to the market supply and demand curves

Explain what would happen to the market supply and demand curves

Question 1:

Which Citation Styles Can You Handle?

We get a lot of “Can you do MLA or APA?”—and yes, we can! Our writers ace every style—APA, MLA, Turabian, you name it. Tell us your preference, and we’ll format it flawlessly.

Part A: Answer the following questions.

Australia produces ethanol from sugar cane, and the land used to grow sugar cane is used to grow food crops. Suppose that Australia's production possibilities for ethanol and food crops are as in the table.

(a) If Australia increases its production of ethanol from 40 barrels per day to 54 barrels per day, what is the opportunity cost of an additional barrel of ethanol?

Ethanol (barrels per day) Are Writing Services Legal? Totally! They’re a legit resource for sample papers to guide your work. Use them to learn structure, boost skills, and ace your grades—ethical and within the rules.

Food crops (tonnes per day)

70	0
64	1
54	2
40	3
22	4
0	5

(b) Does Australia face an increasing opportunity cost of ethanol? What feature of Australia's PPF illustrates increasing opportunity cost? Explain.

The table sets out the demand and supply schedules for banana.

Price What’s the Price for a Paper? Starts at $10/page for undergrad, up to $21 for pro-level. Deadlines (3 hours to 14 days) and add-ons like VIP support adjust the cost. Discounts kick in at $500+—save more with big orders! (dollars    per box)	Quantity demanded	Quantity supplied
	(boxes a week) Is My Privacy Protected? 100%! We encrypt everything—your details stay secret. Papers are custom, original, and yours alone, so no one will ever know you used us.
12	100	800
10	200	700
8	300	600
6 Is AI Involved in Writing? Nope—all human, all the time. Our writers are pros with real degrees, crafting unique papers with expertise AI can’t replicate, checked for originality.	400	500
4	500	400
2	600	300

(c) Suppose a cyclone destroyed some banana farms in QLD and the quantity of banana supplied decreased by 100 boxes a week at each price. But at the same time the demand for banana increased by 100 boxes a week at each price. Explain what would happen to the market supply and demand curves? How and why would the market equilibrium price and quantity adjust at the end? What would be the new equilibrium price and quantity? Draw a graph and illustrate the changes on your graph.

Part B:Answer the following questions.

Why Are You the Best for Research?

Our writers are degree-holding pros who tackle any topic with skill. We ensure quality with top tools and offer revisions—perfect papers, even under pressure.

(d) When Yeon's income was $2,200, he bought 5 kgs of rice a month. Now his income is $3,300 and he buys 4.75 kgs of rice a month.Calculate Yeon's income elasticity of demand forrice. Show your calculation. Is rice income elastic or inelastic? Is rice normal good or inferior good?

Suppose an outbreak of mad cow disease cuts the quantity of beefdemandby 10 per cent.

(e) If the price elasticity of demand for beef is -1.25, by how much would the price of beefhave fallen if the demand for beef increased by 10 per cent? Show your calculation.

(f) Market analysts estimate that the change in the price of beef will decrease the price of pork by 20 per cent and decrease the quantity demanded forbeef by 10 per cent.What is the cross price elasticity of demand for beefwith respect to the price of pork?Does the elasticity indicate that beef and pork are substitutes or complements?

Who Writes My Assignments?

Experts with degrees—many rocking Master’s or higher—who’ve crushed our rigorous tests in their fields and academic writing. They’re student-savvy pros, ready to nail your essay with precision, blending teamwork with you to match your vision perfectly. Whether it’s a tricky topic or a tight deadline, they’ve got the skills to make it shine.

(g) Market analysts estimate that, a 10 per cent increase in the change in the price of pasta sauce will decrease the quantity of spaghetti noodle demanded by 6 per cent.What is the cross elasticity of demand for spaghetti noodle with respect to the price of pasta sauce? Does the elasticity indicate that spaghetti noodle and pasta sauce are substitutes or complements?

Question 2

Part A: Answer the following questions.

The table shows the demand and supply schedules for US wheat market.The US Farm Bill 2012 indicates that the domestic price of wheat will be set at $300 per tonne, which is above the market equilibrium level of $250 per tonne, in order to support for domestic wheat growers. At the market equilibrium, 1,000 kilo tonnes(Kt) are supplied.

Will My Paper Be Unique?

Guaranteed—100%! We write every piece from scratch—no AI, no copying—just fresh, well-researched work with proper citations, crafted by real experts. You can grab a plagiarism report to see it’s 95%+ original, giving you total peace of mind it’s one-of-a-kind and ready to impress.

(a) The US Farm Bill 2012 indicates that the domestic price of wheat is set at $300 per tonne, which is above the market equilibrium level of $250 per tonne, in order to support for domestic wheat growers. On a graph, show if it creates a shortage or a surplus in the market for wheat, and explain why and by how much.

Price (dollar per tonne)	Quantity Can You Use Any Citation Format? Yep—APA, Chicago, Harvard, MLA, Turabian, you name it! Our writers customize every detail to fit your assignment’s needs, ensuring it meets academic standards down to the last footnote or bibliography entry. They’re pros at making your paper look sharp and compliant, no matter the style guide. demanded (kilotonnes)	Quantity supplied Can I Change My Order Details? For sure—you’re not locked in! Chat with your writer anytime through our handy system to update instructions, tweak the focus, or toss in new specifics, and they’ll adjust on the fly, even if they’re mid-draft. It’s all about keeping your paper exactly how you want it, hassle-free. (kilotonnes)
100	2,000	0 How Do I Order a Paper? It’s a breeze—submit your order online with a few clicks, then track progress with drafts as your writer brings it to life. Once it’s ready, download it from your account, review it, and release payment only when you’re totally satisfied—easy, affordable help whenever you need it. Plus, you can reach out to support 24/7 if you’ve got questions along the way!
150	1,400	600
200 How Quick Can You Write? Need it fast? We can whip up a top-quality paper in 24 hours—fully researched and polished, no corners cut. Just pick your deadline when you order, and we’ll hustle to make it happen, even for those nail-biting, last-minute turnarounds you didn’t see coming.	1,200	800
250	1,000	1,000 Can You Handle Tough Topics? Absolutely—bring it on! Our writers, many with advanced degrees like Master’s or PhDs, thrive on challenges and dive deep into any subject, from obscure history to cutting-edge science. They’ll craft a standout paper with thorough research and clear writing, tailored to wow your professor.
300	800	1,200
350	600 How Do You Match Professor Expectations? We follow your rubric to a T—structure, evidence, tone. Editors refine it, ensuring it’s polished and ready to impress your prof.	1,400
400	0	2,000 How Do You Edit My Work? Send us your draft and goals—our editors enhance clarity, fix errors, and keep your style. You’ll get a pro-level paper fast.

(b) On a graph, explain how the price control in the US would change the consumer surplus, producer surplus, and deadweight loss in the domestic wheat market. Assume that the US does not trade wheat internationally. Also, calculate the changes in consumer surplus, producer surplus and deadweight loss. (Remember 1 kilo tonne = 1,000 tonnes)

Part B: Answer the following question.

The price of rice in Japan is $5 per kilogram and Japan produces 40 million tonnes of rice a year. Suppose now that Japanese government provides production subsidy of $2 per kilogram to domestic rice farmers.

(c) Draw a graph and analyse what would happen to the domestic supply of rice and supply curve, consumer price of rice and domestic demand for rice, and cost of rice production. Also explain why such a production subsidy is likely to be troublesome.

Question 3:

Can You Brainstorm Topics?

Yep! We’ll suggest ideas tailored to your field—engaging and manageable. Pick one, and we’ll build it into a killer paper.

Part A: Answer the following questions.

Korea imports a large quantity of beef. With no beef trade, Korea's equilibrium price for beef was $8 million per kilo tonne and equilibrium quantity was 375 kilo tonne. If Korea opens its beef market to trade with no tariff, domestic demand would be 625 kilo tonne and domestic supply would be 125 kilo tonne at the world price of $4 million per kilo tonne. However, Korea currently imposes 40 per cent tariff rate on all imported beef. With 40 per cent tariff, Korea's domestic supply and domestic demand were 250 kilo tonne and 500 kilo tonne respectively in 2013. Assume that intercept of supply curve is $2 million and demand curve is $15 million per kilo tonne.

<Yeon Kim 2015>

(a) Analyse the effects of 40 per cent tariff rate on the price of beef in Korea and Korea's beef imports in comparison with no tariff case. Provide numeric details.

(b) Draw a graph and clearly show how the areas of gains and losses from the trade with 40 per cent tariff rate would change before and after the tariffwith brief explanation. Then, calculate the actual value of change in consumer surplus, producer surplus, tariff revenue and the amount of deadweight loss. Show your calculation.

Part B:Answer the following question.

(c) ProPainters hires students at $250 a week to paint houses. It leases equipment at $500 a week. The table sets out its total product schedule. Calculate and construct ProPainters' cost schedules - that is, total cost (TC), average fixed cost (AFC), average variable cost (AVC), average total cost (ATC) and marginal cost (MC) per house painted. Briefly explain how you calculate each cost schedule and show your calculation.

Do You Offer Fast Edits?

Yes! Need a quick fix? Our editors can polish your paper in hours—perfect for tight deadlines and top grades.

Labour (workers per week)	Output (houses painted per week)	TC Can You Start With an Outline? Sure! We’ll sketch an outline for your approval first, ensuring the paper’s direction is spot-on before we write. (dollars)	AFC (dollars  per house)	AVC (dollars per house)	ATC (dollars Can You Add Charts or Stats? Definitely! Our writers can include data analysis or visuals—charts, graphs—making your paper sharp and evidence-rich. per house)	MC (dollars per house)
1	2
2	5
3	9
4	12 What About Multi-Part Projects? We’ve got it—each section delivered on time, cohesive and high-quality. We’ll manage the whole journey for you.
5	14
6	15 Sample Essay, Assignments & Research Topics Analyze the fundamental impact of IT architecture Analyze ways ethical challenges affect the multiple functions of business. Evaluate the target audience’s use of and belief in the communications sources Tags: #1 Dissertation Writing, Academic Paper, Best assignment help, Cheap Essay Writing Order|Paper Discounts Why Choose Essay Bishops? You Want The Best Grades and That’s What We Deliver Top Essay Writers Our top essay writers are handpicked for their degree qualification, talent and freelance know-how. Each one brings deep expertise in their chosen subjects and a solid track record in academic writing. Affordable Prices We offer the lowest possible pricing for each research paper while still providing the best writers;no compromise on quality. Our costs are fair and reasonable to college students compared to other custom writing services. 100% Plagiarism-Free You’ll never get a paper from us with plagiarism or that robotic AI feel. We carefully research, write, cite and check every final draft before sending it your way.