Determine where each example goes in the circular flow diagram. More than one example may go...

Transcribed Image Text:

Determine where each example goes in the circular flow diagram. More than one example may go into a bin. Answer Bank income that Bill obtains from his consulting job Markets for the long hours that Mot, a hairstylist, works at a goods and services futuristic hair salon rent paid by Sapling for its oflice buikding Firms Houscholds a bike bought from a local Walmart money paid for lunch at a Markets for school cafeteria factors of production the SI00 a mobile provider receives from one of its customers cach month labor that Larry provides Intel as an engineer a laptop sold by Amazon in a lighining deal The accompanying graph represents a demand curve for a bucket of golf balls at the local driving range. Use the graph below to illustrate graphically the effects of an increase in price from S5 per bucket, denoted by the point p*, to $7 per bucket. Market for Buckets of Golf Balls 10 2 17 10 Quantity Based on your movement of the graph, which of the following correctly decribes the law of demand. Price and demand move in the same direction. Price and demand move in the opposite direction. Price and quantity demanded move in the same direction. Price and quantity demanded move in the opposite direction. The accompanying diagrams depict the demand for inexpensive instant ramen noodles. Shift each curve as applicalile hased on the scenarios noled on top of the graphs, Assume all else remains equal. Ifa demand cur ve shoukd not change. then do not move it a. Droves of college studenis funnel ito their respective college towns after summer vacation. b. Aller the first few munths of cotlege students prw to detest ramen Oay Ouantiny c. Tuition fees are unexpectndly waived for a semester, d. Spagheti, substitte for ramen, decreases in price increasing cah sludent's disposable incume dramatically Cty Prce Determine where each example goes in the circular flow diagram. More than one example may go into a bin. Answer Bank income that Bill obtains from his consulting job Markets for the long hours that Mot, a hairstylist, works at a goods and services futuristic hair salon rent paid by Sapling for its oflice buikding Firms Houscholds a bike bought from a local Walmart money paid for lunch at a Markets for school cafeteria factors of production the SI00 a mobile provider receives from one of its customers cach month labor that Larry provides Intel as an engineer a laptop sold by Amazon in a lighining deal The accompanying graph represents a demand curve for a bucket of golf balls at the local driving range. Use the graph below to illustrate graphically the effects of an increase in price from S5 per bucket, denoted by the point p*, to $7 per bucket. Market for Buckets of Golf Balls 10 2 17 10 Quantity Based on your movement of the graph, which of the following correctly decribes the law of demand. Price and demand move in the same direction. Price and demand move in the opposite direction. Price and quantity demanded move in the same direction. Price and quantity demanded move in the opposite direction. The accompanying diagrams depict the demand for inexpensive instant ramen noodles. Shift each curve as applicalile hased on the scenarios noled on top of the graphs, Assume all else remains equal. Ifa demand cur ve shoukd not change. then do not move it a. Droves of college studenis funnel ito their respective college towns after summer vacation. b. Aller the first few munths of cotlege students prw to detest ramen Oay Ouantiny c. Tuition fees are unexpectndly waived for a semester, d. Spagheti, substitte for ramen, decreases in price increasing cah sludent's disposable incume dramatically Cty Prce

Answer rating: 100% (QA)

Income that Bill obtains from his consulting job Market for factors of production The 100 a mobile p... View the full answer