Supply and Demand in Economics, Assessment

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The other impact is that, the quantity of sugar that is traded will rise, however the price will depend on the fall caused by subsidy enabling people to switch away from the sweetness of sugar. The chances that might arise is that, the price of the sugar will end up getting lower and lower than the pre-subsidy level.

Discussing how, ceteris paribus, would affect the market for coffee

If coffee is shown to cause cancer in laboratory rats, the consumers who take coffee will avoid taking coffee in their entire life. Because of that, the supply of the coffee will still increase, however the demand for the coffee will decrease making prices to be cheap.

If blight on coffee plants kills the Brazilian crop, the supply of coffee will without doubt fall causing the price to increase.

Gaining of higher wages by the coffee workers will force the price of coffee to increase so as to cover the cost that has been incurred for labor.

If the substitute goes up in price, people will avoid taking tea, hence shifting to coffee making the price of coffee to increase.

Price ceilings and whether they cause a shortage or surplus in the market.

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The price ceilings are the government imposed bound or limit concerning the pricing of the products. The price ceiling will cause a shortage if only the market price happens to be higher than that of the ceiling, but if the market price is lower than the ceiling, no effect would be identified.

The rent controls laws for the NYC allowed people to protest against the rising of rents. This expanded the NYC creating a program of rent stabilization for the cover of apartments (Norcross, 2013).

The quantity of labor supplied by Arizona teenagers will increase this is because many young people may want to work in areas that have higher wages that tends to be above the equilibrium.

The quantity of labor demanded by employers of Arizona teenagers will decrease. This is because; there are fewer teenagers who tend to be hired at a wage that is higher above the equilibrium.

The number of unemployed Arizona teenagers will increase this is because; unemployment across the world is a gap that may be caused by the quantity of labor supplied and the quantity of labor demanded......

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