Explain whether each of the following events represents (i) a shi of the supply curve or (ii)

Question:

Explain whether each of the following events represents (i) a shi of the supply curve or (ii) a movement along the supply curve. 

a. More homeowners put their houses up for sale during a real estate boom that causes house prices to rise. 

b. Many strawberry farmers open temporary roadside stands during harvest season, even though prices are usually low at that time. 

c. Immediately aer the school year begins, fast-food chains must raise wages, which represent the price of labor, to attract workers. 

d. Many construction workers temporarily move to areas that have suffered hurricane damage, lured by higher wages. 

e. Since new technologies have made it possible to build larger cruise ships (which are cheaper to run per passenger), Caribbean cruise lines offer more cabins, at lower prices, than before.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Macroeconomics

ISBN: 9781319245269

6th Edition

Authors: Paul Krugman, Robin Wells

Question Posted: