A. I want you to pick 2 of these items, and give me 3 reasons why demand curve would shift for each for the product you pick. I want you also to pick your 2 items and give 3 reasons why the supply curve would shift. So there should be 12 answers!
Please note that the reasons could be straight from headlines, or just simply made up.
B. What does a sale on shirts have to do with the law of demand (as applied to shirts)? A sale on shirts allows us to see that the law of demand holds; that is, ceteris paribus, when the price of shirts falls, the quantity demanded of shirts rises.
C. Describe how each of the following will affect the supply of personal computers:
(a) A rise in wage rates;
(b) An increase in the number of sellers of computers;
(c) A tax placed on production of computers;
(d) A subsidy placed on the production of computers.
A. I want you to pick 2 of these items, and give me 3 reasons why demand curve would shift for each for the product you pick. I want you also to pick your 2 items and give 3 reasons why the supply curve would shift. So there should be 12 answers!
Please note that the reasons could be straight from headlines, or just simply made up.
B. What does a sale on shirts have to do with the law of demand (as applied to shirts)? A sale on shirts allows us to see that the law of demand holds; that is, ceteris paribus, when the price of shirts falls, the quantity demanded of shirts rises.
C. Describe how each of the following will affect the supply of personal computers:
(a) A rise in wage rates;
(b) An increase in the number of sellers of computers;
(c) A tax placed on production of computers;
(d) A subsidy placed on the production of computers.
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