Read the following situations and determine if the supply curve should shift to the right (increase)...

 

 

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Read the following situations and determine if the supply curve should shift to the right (increase) or shift to the left (decrease.) Answer the questions, write the factor affecting the shift in demand and then draw the shift in demand. 1. The price of wool increased. What happens to the supply of wool socks? Factor: 3. The government is subsidizing the production of corn. What will happen to the supply of corn? Factor: 2. A tax was placed on the pollution expelled by tire manufacturing plants. What happens to supply of tires? Factor: 4. A new restaurant opens in town. What happens to the local restaurant industry Factor: Read the following situations and determine if the supply curve should shift to the right (increase) or shift to the left (decrease.) Answer the questions, write the factor affecting the shift in demand and then draw the shift in demand. 1. The price of wool increased. What happens to the supply of wool socks? Factor: 3. The government is subsidizing the production of corn. What will happen to the supply of corn? Factor: 2. A tax was placed on the pollution expelled by tire manufacturing plants. What happens to supply of tires? Factor: 4. A new restaurant opens in town. What happens to the local restaurant industry Factor:

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Factors affecting shift in demand curve are change i... View the full answer