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[Econ] Demand and Supply

Demand and Supply

第1條:請問為何答案是A呢?可否詳細解釋下呢?
第2條:請問為何答案是D,不是B/C呢?可否詳細解釋下呢?
第3條:請問為何答案是B呢?可否詳細解釋下呢?
謝謝!

[ 本帖最後由 moominwinnie 於 2021-1-11 08:17 PM 編輯 ]
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Answer

5.
A. correct. The law of demand states that the quantity demanded increases while the price decrease, with other factors unchanged. The metered parking price dropped from 4 to 2 which leads to an increase in the quantity demanded.  This phenomenon abides with the law of demand.
B. Wrong. An increase in demand is different from the increase in quantity demanded. An increase in demand means the quantity demanded increases at every price level, caused by some factors such as income improvement.
C. Wrong. The equilibrium quantity and price is determined by both the demand and supply. The supply of metered parking lot has not changed. Thus, the equilibrium quantity does not change.
D. Wrong. Not related to elasticity.

6.  Charging toll on highway users indirectly increases the price of using the highway. Here you need to know the relationship between each choice and highway service. The graph shows a decrease in supply.
A. MTR and Highway are substitute. The price increase of highway will lead to an increase in demand for MTR, not decrease in supply.
B and C. Complement. The price rise in highway will lead to less usage of cars and lead to a decrease in demand of gasoline, rather than supply.
D. Complement in production. The highway toll is a cost of running a school bus business, just the same as gasoline. With cost rise, the supply of school bus service will decrease so that the supply curve shift leftward.

6.  The overheated stock market changes consumer preference that people tend to buy more financial magazines. In other words, the demand for financial magazine increase and shift rightward. With the supply unchanged, the equilibrium price and quantity both increase, the same as stated in the question. The demand curve can still be downward sloping. And the law of demand is not violated.
This question has nothing to do with elatiscity.

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謝謝你的解答!
請問"The price rise in highway will lead to less usage of cars and lead to a decrease in demand of gasoline, rather than supply."
我不明白為何" The Hong Kong Government imposes a toll on highway users, the demand for private motor cars decreases".

[ 本帖最後由 moominwinnie 於 2021-4-21 08:05 PM 編輯 ]

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引用:
原帖由 moominwinnie 於 2021-2-23 06:33 PM 發表
謝謝你的解答!
請問"The price rise in highway will lead to less usage of cars and lead to a decrease in demand of gasoline, rather than supply."
我不明白為何" The Hong Kong Government imposes a toll ...
請問是甚原因呢?

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引用:
原帖由 moominwinnie 於 2021-4-21 08:34 PM 發表



請問是甚原因呢?
There are two sets of complements: highway and private motor cars; and private motor cars and gasoline
increase in toll of highway->decrease the demand of motor cars->decrease the demand of gasoline

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