For each market whose product is highlighted in italics, sketch a graph (without numbers on the...
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For each market whose product is highlighted in italics, sketch a graph (without numbers on the axes) showing the change in either demand or supply. In each case, identify the demand or supply factor causing the shift. a) Medical researchers discover that consumption of BLUEBERRIES reduces the risk of cancer. b) New automated equipment is introduced in the production of SILICON CHIPS. c) A significant rise in the price of video game consoles affects the market for VIDEO GAMES. d) A drop in the price of laptop computers influences the consumption of desktop COMPUTERS. Unusually cold weather in Central America harms the COFFEE harvest. e) f) A rise in the price of wheat affects the production of BARLEY. g) A widespread expectation by consumers of higher future incomes affects current sales of AUTOMOBILES. h) A widespread expectation by consumers of lower prices for COMPUTER GAMES affects current purchases of this item. i) Widespread computer piracy using file-sharing programs affects the market for PRE- RECORDED DVDS. j) The drop in prices of MP3 players influences the market for PORTABLE CD PLAYERS. For each market whose product is highlighted in italics, sketch a graph (without numbers on the axes) showing the change in either demand or supply. In each case, identify the demand or supply factor causing the shift. a) Medical researchers discover that consumption of BLUEBERRIES reduces the risk of cancer. b) New automated equipment is introduced in the production of SILICON CHIPS. c) A significant rise in the price of video game consoles affects the market for VIDEO GAMES. d) A drop in the price of laptop computers influences the consumption of desktop COMPUTERS. Unusually cold weather in Central America harms the COFFEE harvest. e) f) A rise in the price of wheat affects the production of BARLEY. g) A widespread expectation by consumers of higher future incomes affects current sales of AUTOMOBILES. h) A widespread expectation by consumers of lower prices for COMPUTER GAMES affects current purchases of this item. i) Widespread computer piracy using file-sharing programs affects the market for PRE- RECORDED DVDS. j) The drop in prices of MP3 players influences the market for PORTABLE CD PLAYERS.
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Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date:
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