Consider the market for gasoline, illustrated in the figure to the right. The equilibrium quantity of gasoline is million gallons (enter a numeric response using a real number rounded to two decimal places) and the equilibrium price is $ per gallon. If instead the market price were $1.75, then there would be a of million gallons. Quantity of Gasoline (gallons in millions)

Answers

Answer 1

The equilibrium quantity of gasoline is 550 million gallons and the equilibrium price is $2.50 per gallon. Given,Consider the market for gasoline, illustrated in the figure below: Market for gasoline with Equilibrium point From the given figure, the equilibrium quantity of gasoline is 550 million gallons and the equilibrium price is $2.50 per gallon.

Now, If the market price were $1.75, then there would be a surplus of 150 million gallons.

Calculation: At the price of $1.75, the quantity demanded for gasoline is 700 million gallons (from the demand curve).

The quantity supplied at this price is 550 million gallons (from the supply curve).The difference between quantity demanded and quantity supplied is the surplus= 700 - 550= 150 million gallons.

Therefore, the answer is:The equilibrium quantity of gasoline is 550 million gallons and the equilibrium price is $2.50 per gallon. If instead the market price were $1.75, then there would be a surplus of 150 million gallons.

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Related Questions

When a public plan is
approved for road
construction to begin in front.
of a neighborhood church,
who does it impact the most?

Answers

The neighborhood church and its members are likely to be impacted the most by the public plan for road construction.

What is construction?

Construction is the process of building structures or infrastructure, usually involving the use of materials, labor, and tools. Construction generally involves the assembly of components into a new or existing structure, or the alteration, repair, or improvement of an existing structure. Construction projects can range in size and complexity, from small residential renovations to large-scale commercial or industrial projects such as bridges, dams, tunnels, and roads.

This is because the road construction could bring more noise, dust and disruption to the area, and the church may need to adjust its activities around the construction. Furthermore, the church may need to make changes to its building and surrounding property to accommodate the new road. Additionally, the road construction may cause disruptions to the church's parking lot and access to the facility, as well as any other nearby businesses or residential areas.

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3. M&J has been successful so far because of word-of-mouth advertising. This method has allowed the company

to capture a substantial share of the local market of 18- to 28-year-old women, but the company is having

trouble expanding into new markets

Answers

By diversifying their marketing efforts, the company can increase brand awareness and ultimately capture a larger share of potential customers in new markets.

Word-of-mouth advertising has been a crucial factor in the success of M&J so far, especially in capturing the attention of 18 to 28-year-old women in the local market. However, as the company looks to expand into new markets, it needs to diversify its marketing strategy.

One way to achieve this is through targeted online advertising on social media platforms and search engines. By creating engaging content and using keywords that resonate with the target audience, M&J can attract new customers who may not have heard about the brand through word-of-mouth.

Another strategy is to collaborate with popular influencers who have a large following in the new market. These influencers can showcase M&J's products and services to their followers, thereby increasing the brand's visibility and credibility. Additionally, M&J can consider sponsoring local events or partnering with other businesses in the new market to increase its reach.

Overall, while word-of-mouth advertising has been successful for M&J in the past, expanding into new markets requires a more diverse and targeted marketing strategy.

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Which of the following is a negative effect of the rise in agricultural technology following World War II?
need for more farm workers
environmental degradation
need for more agricultural land
increased crop yields

Answers

Answer: Environmental degradation

Explanation:

Not increased crop yields is a good thing

not need for more agricultural land (the technology gives more bang for your buck)

Same for more farmers

When a company hires you, you will fill out a _________ form. The information on this form is the basis for determining how much income tax should be withheld from your paycheck.

Answers

When a company hires you, you will fill out a W4 form. The information on this form is the basis for determining how much income tax should be withheld from your paycheck

What is a tax?

A tax simply means a compulsory levy that's paid by the people and companies to the government.

In this case, when a company hires you, you will fill out a W4 form. The information on this form is the basis for determining how much income tax should be withheld from your paycheck.

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What is a public good?

A A public good is a product or service that one consumer can prevent another consumer from using, and is not accessible without
payment

B A public good is a product or service that one consumer cannot present another consumer from using, and is accessible without
payment

C A public good is a product or service that one consumer cannot prevent another consumer from using, and is not accessible without
payment

D A public good is a product or service that one consumer can prevent another consumer from using, and is accessible without payment.

Answers

I believe your answer is B

A public good is a product or service that one consumer cannot present another consumer from using, and is accessible without  payment

Emily Ltd had the following ratios at 31 December 2020 and 31 December 2021: 2021 2020 Gross profit margin 28% 25% Trade payable days 44 days 40 days Trade receivable days 35 days 30 days
Which ONE of the following statements is TRUE?
a. E Ltd is paying its trade payables 4 days more quickly in 2021 than in 2020. b. The average length of time between goods being purchased and E Ltd paying for those goods, is 75 days in 2020, c. ELtd is collecting in its debts from customers more quickly in 2021 than in 2020.
d. The gross profit margin made by E Ltd has increased from 2020 to 2021.

Answers

Emily Ltd had the following ratios at 31 December 2020 and 31 December 2021: 2021 2020 Gross profit margin 28% 25% Trade payable days 44 days 40 days Trade receivable days 35 days 30 daysWhich ONE of the following statements is TRUE?

Option (c) ELtd is collecting in its debts from customers more quickly in 2021 than in 2020 is true.In 2021, Emily Ltd's Trade receivable days is 35 days, and it was 30 days in 2020. The Trade receivable days ratio measures how fast a company can collect its receivables. If a company has a shorter receivable period, it can collect cash more quickly, reducing the need for debt financing.

Because ELtd's Trade receivable days have decreased, it is receiving its payments from customers more quickly in 2021 than in 2020.Hence, the correct option is (c) ELtd is collecting in its debts from customers more quickly in 2021 than in 2020.

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Drag the tiles to the boxes to form correct pairs.
Match the different. brainstorming techniques to their applications

Drag the tiles to the boxes to form correct pairs.Match the different. brainstorming techniques to their

Answers

Note that the Brainstorming Techniques matched to one another are given as follows:

Clustering - connecting ideas for a topic using different shapes and color-coding to identify how the ideas are relatedThree perspectives - describing the topic, tracing its history, and examining its connections with related topicsFreewriting - writing down first thoughts on a topic in a timed session. without pausing to check for relevance or grammar

What are brainstorming techniques?

The most essential thing to remember with any approach of brainstorming is to prioritize quantity above quality. Accepting all ideas, no matter how ridiculous or unimportant they may appear, aids brainstorming.

The aim is to establish a large enough pool of ideas from which to draw or combine ideas for the best solution or approach.

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when a country experiences high economic growth, a major cause usually is often _______

Answers

When a country experiences high economic growth, a major cause is often higher productivity. Option A is correct.

Higher productivity can lead to increased output and income, which can help to drive economic growth. When workers are able to produce more goods and services per unit of time, this can lead to increased efficiency and profitability for businesses. In turn, this can lead to higher wages and more spending in the economy, which can help to further boost economic growth.

Lower interest rates can also help to stimulate economic growth by making it easier and more affordable for businesses and consumers to borrow money, which can increase spending and investment.

However, while lower interest rates can be a contributing factor to economic growth, they are not always a major cause or the only factor driving growth. Other factors, such as technological innovation, favorable trade policies, and political stability, can also play a role in driving economic growth in a country.

Therefore, option A is correct.

When a country experiences high economic growth, a major cause usually is often ______

A. Higher productivity

B. Higher wages

C. Lower interest rates

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Which of the following decisions is most likely to create a temporary diseconomy of
scale? (Select the best answer.)
A)Buying supplies in bulk
B)Buying an expensive piece of machinery
C)Hiring employees who specialize
D)Using division of labor

Answers

Answer:

Buying an expensive piece of machinery

Explanation:

the production possibilities curve differs from economy to economy based on all of the following except:

Answers

The factors that do affect the shape of the PPC include:
1. Resource availability

2. Technological progress

3. Specialization and trade

4. Economic growth

The production possibilities curve (PPC) is a graphical representation of the different combinations of goods and services that an economy can produce given its resources and technology. It shows the maximum potential output that can be achieved by reallocating resources between the production of two goods.

The PPC can vary from economy to economy based on several factors. However, there is one factor that does not affect the shape of the PPC. This factor is the slope of the curve.

The slope of the PPC represents the opportunity cost of producing one good in terms of the other. It shows how much of one good must be given up to produce an additional unit of the other good. The steeper the slope, the higher the opportunity cost.

The factors that do affect the shape of the PPC include:

1. Resource availability: If an economy has abundant resources, it can produce more of both goods, leading to an outward shift of the PPC. Conversely, if resources are scarce, the PPC will shift inward.

2. Technological progress: Advances in technology can improve the efficiency of production, allowing an economy to produce more output with the same amount of resources. This leads to an outward shift of the PPC.

3. Specialization and trade: If an economy specializes in producing goods for which it has a comparative advantage, it can trade with other economies to obtain goods that it cannot produce efficiently. This can lead to an increase in overall output and an outward shift of the PPC.

4. Economic growth: Over time, economies can experience economic growth, which results in an increase in the available resources and technological advancements. This leads to an outward shift of the PPC.

In conclusion, the factors that affect the shape of the PPC include resource availability, technological progress, specialization and trade, and economic growth. The slope of the PPC, however, does not affect its shape and is determined by the opportunity cost of production.

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PLEASE ANSWER QUICKLY: (FIRST ANSWER GETS BRAINLIEST)

When comparing financial institutions, price is an important factor. What is TRUE about prices in financial institutions?


A. Interest rates on CD accounts are lower than on other types of accounts.


B. Higher interest rates will give you a higher return on your money.


C. It is illegal for financial institutions to have fees attached to checking accounts.

Answers

B
hope this helps you :)

Higher interest rates will give you a higher return on your money.

If one wished to have one or fewer floods over a 75 year period,
what risk per year should you tolerate?

Answers

probability To have one or fewer floods over a 75-year period, you should tolerate a risk of approximately 1.33% per year.

To determine the risk per year that should be tolerated to achieve one or fewer floods over a 75-year period, we can use the concept of probability. Let's assume that the probability of experiencing a flood in any given year remains constant.

To calculate the risk per year, we can divide the desired number of floods (which is one or fewer) by the number of years in the period. In this case, the period is 75 years. If we want to have one or fewer floods in 75 years, it means we can tolerate at most one flood occurring during this entire period.

So, the calculation would be as follows:

(Desired number of floods) / (Number of years in the period) = Risk per year

1 / 75 = 0.0133

Therefore, to have one or fewer floods over a 75-year period, you should tolerate a risk of approximately 1.33% per year.

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why is training important for a good job?plz answer​

Answers

the employee who receives the necessary training is more able to perform in their job. ... A training program allows you to strengthen those skills that each employee needs to improve. A development program brings all employees to a higher level so they all have similar skills and knowledge.
Advantages of training

Increased job satisfaction and morale among employees.
Increased employee motivation.
Increased efficiencies in processes, resulting in financial gain.
Increased capacity to adopt new technologies and methods.
Increased innovation in strategies and products.

although anorexics feel a(n) __________ over eating, bulimics feel a _____________.

Answers

Answer:

Although anorexics feel a(n) _Sense of control_____ over eating, bulimics feel a _ lack of control._____  Unfortunately, the drive for thinness in ...

Explanation:

PLEASE HELP ASAP (EASY)

Fiona short has wondered how to turn her 185,000 followers into an even bigger business. She thinks she has two options: 1. Open a Fifi's Closet shop in central London or 2. Pay a friend to set up a second e-commerce Fifi's Closet website in French. Justify which of these two options Fiona should choose (9 marks)

Answers

Answer:

2

Explanation:

you're capable of reaching more people with a website

the dulac box plant produces 500 cypress packing boxes in two 10-hour shifts. what is the productivity of the plant?

Answers

If the dulac box plant produces 500 cypress packing boxes in two 10-hour shifts. The productivity of the plant is: 25 boxes/hour.

How to find the  productivity of the plant?

The productivity of the Dulac box plant  = number of boxes produced / number of labor hours required to produce them.

With two 10-hour shifts, the total number of labor hours is:

2 shifts * 10 hours/shift = 20 hours.

So, the productivity of the Dulac box plant can be expressed as:

500 boxes / 20 hours = 25 boxes/hour

Therefore, the productivity of the Dulac box plant is 25 boxes per hour.

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Should Shaun use gross pay or net pay when creating his budget? Explain your
reasoning.

Answers

Answer:

jjheeeneemme

Explanation:beenem

within just a few years of its inception, uber was operating in more than 35 countries around the world. by moving into new markets early, uber hoped to capitalize on

Answers

Considering the situation described above, by moving into new markets early, uber hoped to capitalize on the "first-mover advantage."

The first-mover advantage is a term often used in the business or strategy world to describe the company's capacity to be more successful than its competitors due to being the first company to enter the market in a new product category or new location.

Thus, when Uber moves to a new market early in a new country or location where there are no platforms like Uber, it is believed that Uber hoped to capitalize on a first-mover advantage to gain customers and revenues.

Hence, in this case, it is concluded that the correct answer is "first-mover advantage."

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HELP ME PLEASE !!!

which of the following is a benefit that computer technology has provided to the realm of financial administration?
a. financial records can be searched more easily
b. less data availability
c. less security of financial records
d. slower data entry

Answers

Answer:

a. financial records can be searched more easily

Explanation:

Computer technology has aided in the automation and integration of an organization's financial records in a single system. A business's financial data relating to several financial years are accessible from a single computer. Computer technology has made it easy to collect, analyze, report, and interpret financial records.

Through computer technology, financial records are organized and stored in a manner that is easy to retrieve. It takes very little time to access the required financial information as long as it was labeled correctly and stored.

Answer:

1 selling stock before telling about the downfall one

2 A or financial records can be searched more easily

3 crowdfunding

4 forecast

What are the two primary goals of a central bank?.

Answers

Price stability and low inflation (at approximately 2%), are the two main goals of central bank.

The two main objectives of the central bank are as follows:

1.Price constancy It occurs when the economy experiences little to no change over time. This indicates that there hasn't been any price inflation or deflation.

2. Low inflation: Economists generally concur that a low, stable level of inflation is required to promote economic growth, despite the fact that it may eventually reduce the purchasing power of your dollars.

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Advantage 2 Starting a business can be risky, but it depends on the opportunity of the entrepreneur's time. If they would be unemployed otherwise, then what looks like risk may actually be a benefit or a reward.

Answers

Answer: Running a business or start up requires a lot. Asides capital, the individual would gave to learn how to keep a business running day instead and also ensuring the system runs well.

Explanation:

Running a business or start up requires a lot. Asides capital, the individual would gave to learn how to keep a business running day instead and also ensuring the system runs well. Despite the good things that come with owning a business, it actually requires a lot of work. In most cases being unemployed and not starting a business could be better than starting one because running a business would take everything in you, coupled now how things are evolving, the business owner has to be proactive, and enlightened severally and seek ways to bring innovate

Identify the endorsement issue in the given scenario.
jim has become a well-known movie actor in a very short period. he originally started in the theater and considers himself a classically trained
actor. companies are offering him lucrative endorsement deals, but he is afraid that his fans will think he has gone commercial." jim is
concerned about

Answers

According to the scenario, Jim is concerned about the promotion endorsement.

What is Promotion Endorsement?

It is a marketing strategy used by companies when using an influential person, such as a celebrity to carry out promotional advertisements for a brand, influencing consumers through the image of an admired person.

Therefore, it is ideal that the promotional endorsement is carried out in an aligned way to be effective, as the image of the individual and the values ​​of the company must be compatible to generate the expected value.

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A $107,000, 90-day commercial paper certificate issued by Bell
Canada Enterprises was sold on its issue date for $105,250.
What annual rate of return will it yield to the buyer? (Use
365 days a year.

Answers

The annual rate of return for the commercial paper certificate is approximately 6.94%.

To calculate the annual rate of return for the commercial paper certificate, we can use the formula for the yield to maturity. The yield to maturity represents the annualized rate of return based on the purchase price and the face value of the certificate.

Let's denote the annual rate of return we want to find as "r." The purchase price of the certificate is $105,250, and the face value is $107,000. The time to maturity is 90 days, which we need to convert to a fraction of a year by dividing by 365.

Using the formula for yield to maturity:

Purchase Price = Face Value / (1 + r * t)

Where: Purchase Price = $105,250

Face Value = $107,000

r = Annual rate of return

t = Time to maturity in years (90 days / 365)

105,250 = 107,000 / (1 + r * (90/365))

Now, let's solve for "r":

105,250 / 107,000 = 1 / (1 + r * (90/365))

0.98318 = 1 / (1 + r * 0.24658)

Cross-multiply:

0.98318 * (1 + r * 0.24658) = 1

0.98318 + 0.24192r = 1

0.24192r = 1 - 0.98318

0.24192r = 0.01682

Now, solve for "r":

r = 0.01682 / 0.24192

r ≈ 0.0694

The annual rate of return for the commercial paper certificate is approximately 6.94%.

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IM TIMED!!!Understanding and documenting the criteria before beginning work toward a goal is necessary to ensure the
goal is.
measurable
attainable
specific
relevant

Answers

To Understanding and documenting the criteria before beginning work toward a goal is necessary to ensure the relevant. Any communicable material used to describe, clarify, or provide instructions regarding certain characteristics of a thing.

A system, or a procedure, such as its components, assembly, installation, maintenance, and use, is considered documenting.  documentation criteria protecting sensitive data and making available to interested parties thorough records of workplace activities. The routine of keeping correct records offers a reachable, manageable foundation for dealing with problems. By encouraging knowledge sharing, documentation helps your team learn how procedures work and what typical project outcomes look like.

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The ________ marketing strategy reverses the traditional model and is used by smaller companies to keep their product focused on a single concept

Answers

The bottom-up marketing strategy reverses the traditional model and is used by smaller companies to keep their product focused on a single concept.

What is top-down and bottom-up marketing strategy?

Top-down approaches typically cover a broad range of macro variables, whereas bottom-up approaches are more narrowly focused. Top-down investing strategies typically seek to capitalize on opportunities that arise as a result of market cycles. Bottom-up approaches begin with local or company-specific variables and then work their way outward.

Bottom-up sales involve casting a wide net to capture a large number of leads, inviting them to use your product or service, and encouraging them to introduce your platform to their companies. This strategy makes use of one-to-many marketing, in which you target a larger group of people to buy, use, and profit from your product or service.

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Which of the following is the best way to make sure you have good customer retention?
A. Give coupons to new customers
B. Provide good customer service
C. Offer Internet sales
D. Use sales quotas

Answers

Answer:

B. Provide good customer service

Explanation:

Customer service refers to taking care of customers' needs by providing timely, professional, and useful assistance to the customer at all times. It involves addressing customer concerns by providing meaningful support when required.

Customer service entails a one-on-one interaction with a client.  The customer service agent must portray a genuine willingness to support the customer. They need to demonstrate passion for work and customers throughout the interaction. Good customer service create loyal customers.

Driving forces analysis Multiple Choice involves identifying the driving forces, assessing whether their impact will make the industry more or less attractive, and determining what strategy changes a company may need to make to prepare for the impact of the driving forces. identifies which strategic group is the most powerful. helps managers identify which industry member is likely to become (or remain) the industry leader and why. helps managers identify which key success factors are most likely to help their company gain a competitive advantage. helps managers identify which of the five competitive forces will be the strongest driver of industry change.

Answers

Answer:

involves identifying the driving forces, assessing whether their impact will make the industry more or less attractive, and determining what strategy changes a company may need to make to prepare for the impact of the driving forces.

Explanation:

Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.

Driving forces analysis involves identifying the driving forces, assessing whether their impact will make the industry more or less attractive, and determining what strategy changes a company may need to make to prepare for the impact of the driving forces. This driving forces determines the competitive and comparative advantage of a company.

Comparative advantage in economics is the ability of an individual or country to produce a specific good or service at a lower opportunity cost better than another individual or country.

The comparative advantage gives a country a stronger sales margin than their competitors as they are able to sell their specific products or render their peculiar services at a lower opportunity cost.

how do human resources professionals provide an organization with a sustainable competitive advantage?

Answers

Human resources (HR) can give businesses a lasting competitive edge since they are precious, uncommon, irreplaceable, and of high calibre and perform many essential activities. Through the methods it uses for HR management, an organisation is able to achieve the potential of these people resources.

What do mean by Human Resource?

A company's department in charge of anything employee-related is called human resources (HR). Additionally, it entails locating, selecting, onboarding, training, promoting, paying, and dismissing employees and independent contractors. The HR department also keeps up with any new laws dictating how employees should be treated during the hiring, working, and firing processes. Many business strategists believe that of all the corporate resources, human resources are the most crucial. That's because staff members can develop new abilities, which over time expands a company's competitive advantage. Simply put, other resources lack that capability.

So, Human resources (HR) can give businesses a lasting competitive edge since they are precious, uncommon, irreplaceable, and of high calibre and perform many essential activities.

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Other things remaining the same, if the cost of goods sold decreases, then:_______.

a. Inventory turnover ratio and weeks of supply will both go up.

b. Inventory turnover ratio and weeks of supply will both go down.

c. Inventory turnover ratio will go down, but the weeks of supply will go up.

d. Inventory turnover ratio will go up, but weeks of supply will go down.

e. Inventory turnover ratio will stay the same, but weeks of supply will go down

Answers

Other things remaining the same, if the cost of goods sold decreases, then the correct answer is: d. Inventory turnover ratio will go up, but weeks of supply will go down.

Here's the step-by-step explanation:

1. The cost of goods sold (COGS) is the total cost of producing or acquiring goods sold during a specific period. It includes the cost of materials, labor, and overhead expenses.

2. The inventory turnover ratio measures how efficiently a company manages its inventory by dividing the cost of goods sold by the average inventory. It indicates how quickly a company sells its inventory and replenishes it.

3. When the cost of goods sold decreases, it means that the company is selling goods at a lower cost or reducing the quantity sold.

4. As a result, the inventory turnover ratio will increase. This is because the cost of goods sold is in the numerator, and a decrease in COGS will lead to a higher ratio.

5. On the other hand, the weeks of supply measure how long a company's inventory will last based on the current rate of sales. It is calculated by dividing the average inventory by the cost of goods sold per week.

6. When the cost of goods sold decreases, the denominator in the weeks of supply calculation decreases. As a result, the weeks of supply will go down.

In conclusion, when the cost of goods sold decreases, the inventory turnover ratio will go up because the company is selling goods more efficiently. However, the weeks of supply will go down because the inventory is being depleted at a faster rate.

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What is the difference between using an action button to play an audio file via 'play sound' and an audio clip set up through the Media Group?

Answers

Answer: The action button lets users play the audio file, the sound button will play an audio clip.

Explanation:

The action button lets users play the audio file once it is clicked or has a mouse over action over the assignment button. The sound button will play an audio clip that you have specified in the action settings dialog box.

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