In Each of the Following Cases, Explain What Effect the Changes

question 64

Essay

In each of the following cases, explain what effect the changes will have on the equilibrium price and quantity in the following markets: $\begin{array}{l} \hline\quad\quad\quad \text {Market}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad \text {Change}\\\begin{array}{lll} \hline \text { a) computer technicians}\\ \\\\\text { b) anti-cholesterol drugs}\\\\\\ \text {c) full-sized SUV's}\\\\\\\text {d) organic spinach}\\ \\\\ \hline \end{array}\begin{array}{lll} \hline \text {The use of computers in business continues to expand; whil }\\\text { at the same time, the number of graduates in computer}\\\text { technology programs increases}\\\text { The cost of producing anti-cholesterol drugs increases; and}\\\text { at the same time, medical problems associated with high}\\\text { cholesterol continues to increase.}\\\text { The government imposes a special excise tax on full-sized}\\\text { SUV's ; while at the same time, gas prices decrease}\\\text { dramatically.}\\\text {Medical reports indicate that spinach is an effective anti-}\\\text {cancer food: while at the same time a new, faster-growing}\\\text { variety of spinach is developed.}\\\hline \end{array}\end{array}$

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Definitions:

Accounting Department

A division within a company that handles financial reporting, bookkeeping, payroll, and other financial-related activities.

External Parties

Individuals or entities outside of a company that have an interest in its activities, such as suppliers, customers, or regulators.

Authority And Responsibility

A management principle stating that a person with authority (power to make decisions) should also be responsible for the outcomes of those decisions.

Performance Evaluation

The process of assessing the performance of employees, processes, or systems against set benchmarks or standards.