Assume the market for bread originally could be described as being in equilibrium and that the market is working in accordance to the basic model for a market. At the market for bread two disturbances affecting the market occurs at the same time. The first disturbance is that crops of grains, used for making bread, becomes exceptionally large. The second disturbance is that the population chooses to consume more of other types of food than bread. Consumers choose to consume more of vegetables and fish instead of bread. Use the market model and describe what consequences you could expect on the bread market (prices and quantities) from these two disturbances. What conclusions can you be sure of and what conclusions are unsure? Motivate your answer and use diagrams.



Please who can solve this?.. Incentive dey.. Even though it's small

babyfaceafrica:
Assume the market for bread originally could be described as being in equilibrium and that the market is working in accordance to the basic model for a market. At the market for bread two disturbances affecting the market occurs at the same time. The first disturbance is that crops of grains, used for making bread, becomes exceptionally large. The second disturbance is that the population chooses to consume more of other types of food than bread. Consumers choose to consume more of vegetables and fish instead of bread. Use the market model and describe what consequences you could expect on the bread market (prices and quantities) from these two disturbances. What conclusions can you be sure of and what conclusions are unsure? Motivate your answer and use diagrams.



Please who can solve this?.. Incentive dey.. Even though it's small

How much incentive?

Mrshape:
How much incentive?

Shikini incentive. Card ni o

rabiuabd:
Imma 100L Economist, Make I sit here and watch

your Signature got me cracking...

Even me I get enough work to do oooooo but I've been on net all day.

babyfaceafrica:
Assume the market for bread originally could be described as being in equilibrium and that the market is working in accordance to the basic model for a market. At the market for bread two disturbances affecting the market occurs at the same time. The first disturbance is that crops of grains, used for making bread, becomes exceptionally large. The second disturbance is that the population chooses to consume more of other types of food than bread. Consumers choose to consume more of vegetables and fish instead of bread. Use the market model and describe what consequences you could expect on the bread market (prices and quantities) from these two disturbances. What conclusions can you be sure of and what conclusions are unsure? Motivate your answer and use diagrams.



Please who can solve this?.. Incentive dey.. Even though it's small

You said the market was initially at equilibrum.... And two things happened to the bread production, there was increase in raw materials used in producing bread and also consumers subtituted bread for other commodities.....
WHAT HAPPENS TO THE PRICE AND QTY OF BREAD IN THE MARKET?
Since we are talking about equilibrum, then a new equilibrum will be formed... Now, the producer will increase qty of bread he produces since the raw materials are abundant and in cheap supply, this will cost more supply of bread to d mrk.(increased supply of bread and reduced demand of bread causes price to fall.)
2. Since the consumers have subtituted bread for vegetable, the price of bread will also reduce because there will be market glut..
In general you will have a new equilibrum position on the graph... Whereby there is a downward of the curve from left to right, signifying that price have reduced nd d equilibrum have changed position backward as a result of decrease in price....
Sorry i can't draw a diagram now becos of d phone am using.... Bt u can use ma explaination nd draw one.

babyfaceafrica:
Assume the market for bread originally could be described as being in equilibrium and that the market is working in accordance to the basic model for a market. At the market for bread two disturbances affecting the market occurs at the same time. The first disturbance is that crops of grains, used for making bread, becomes exceptionally large. The second disturbance is that the population chooses to consume more of other types of food than bread. Consumers choose to consume more of vegetables and fish instead of bread. Use the market model and describe what consequences you could expect on the bread market (prices and quantities) from these two disturbances. What conclusions can you be sure of and what conclusions are unsure? Motivate your answer and use diagrams.



Please who can solve this?.. Incentive dey.. Even though it's small

I am very sure that the price of bread will fall.

I am unsure of the effect it will have on the equilibrium quantity

Reason:

Increase in the size of the crop shows an increase in the available raw material
Which means more product will go to the market
AN INCREASE IN SUPPLY.
it is obvious people dont eat bread much again
That is DECREASE IN DEMAND.

A decrease in demand of bread and an increase in supply of bread will cause a fall in equilibrium price, but the effect on equilibrium quantity cannot be determined.
For any quantity of bread consumers now place a lower value on the the bread and producers are willing to accept a lower price, therefore, price will fall. The effect on output will depend on the relative size of the two changes.

Kind of thread I love.


Due to the increase in grain, supply of bread will shift outward,and also, because the population decided to consume other food than bread, the demand curve will shift inward

So, there will be a fall in price and about quantity demanded, we will be unsure. The likelihood is for there to be an increase in quantity demanded/supplied but we are unsure.

This is because we don't know the change that has the higher impact.
Is it the increase in grain or decrease in demand? To know this, we have to be sure of the elasticity, we have to know by how much an increase in grain causes an increase in the supply of bread and also, how big is the fall in demand.

I would have given you a detailed diagram but my phone's rear-camera lens got smashed some days back. Can't take a clear picture.


Adiós

babyfaceafrica:
Assume the market for bread originally could be described as being in equilibrium and that the market is working in accordance to the basic model for a market. At the market for bread two disturbances affecting the market occurs at the same time. The first disturbance is that crops of grains, used for making bread, becomes exceptionally large. The second disturbance is that the population chooses to consume more of other types of food than bread. Consumers choose to consume more of vegetables and fish instead of bread. Use the market model and describe what consequences you could expect on the bread market (prices and quantities) from these two disturbances. What conclusions can you be sure of and what conclusions are unsure? Motivate your answer and use diagrams.



Please who can solve this?.. Incentive dey.. Even though it's small

First disturbance: Exceptionally large crops of grain

Consequences: Increase in Q of bread in circulation

Second disturbance: Demand for veg and Fish over bread.
Consequences: Drop in demand and probably drop in Price

Mrshape:

I am very sure that the price of bread will fall.

I am unsure of the effect it will have on the equilibrium quantity

Reason:

Increase in the size of the crop shows an increase in the available raw material
Which means more product will go to the market
AN INCREASE IN SUPPLY.
it is obvious people dont eat bread much again
That is DECREASE IN DEMAND.

A decrease in demand of bread and an increase in supply of bread will cause a fall in equilibrium price, but the effect on equilibrium quantity cannot be determined.
For any quantity of bread consumers now place a lower value on the the bread and producers are willing to accept a lower price, therefore, price will fall. The effect on output will depend on the relative size of the two changes.

send me your number?..

Please I am still open to answers

femi4:
First disturbance: Exceptionally large crops of grain

Consequences: Increase in Q of bread in circulation

Second disturbance: Demand for veg and Fish over bread.
Consequences: Drop in demand and probably drop in Price

thanks really appreciate

Jackossky:
Kind of thread I love.


Due to the increase in grain, supply of bread will shift outward,and also, because the population decided to consume other food than bread, the demand curve will shift inward

So, there will be a fall in price and about quantity demanded, we will be unsure. The likelihood is for there to be an increase in quantity demanded/supplied but we are unsure.

This is because we don't know the change that has the higher impact.
Is it the increase in grain or decrease in demand? To know this, we have to be sure of the elasticity, we have to know by how much an increase in grain causes an increase in the supply of bread and also, how big is the fall in demand.

I would have given you a detailed diagram but my phone's rear-camera lens got smashed some days back. Can't take a clear picture.


Adiós

appreciate

babyfaceafrica:
mtn?

Yes,
Hope you have copied it. I have hidden the comment containing my number

babyfaceafrica:
Assume the market for bread originally could be described as being in equilibrium and that the market is working in accordance to the basic model for a market. At the market for bread two disturbances affecting the market occurs at the same time. The first disturbance is that crops of grains, used for making bread, becomes exceptionally large. The second disturbance is that the population chooses to consume more of other types of food than bread. Consumers choose to consume more of vegetables and fish instead of bread. Use the market model and describe what consequences you could expect on the bread market (prices and quantities) from these two disturbances. What conclusions can you be sure of and what conclusions are unsure? Motivate your answer and use diagrams.



Please who can solve this?.. Incentive dey.. Even though it's small

Thanks I have received your incentive. I appreciate

Mrshape:

Yes,
Hope you have copied it. I have hidden the comment containing my number

sent.. Manage am

babyfaceafrica:
sent.. Manage am

Thanks I have received it

My contribution to this