There are various non-price factors that cause shifts in the supply and demand curves, not just...

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There are various non-price factors that cause shifts in the supply and demand curves, not just movement along the same curves. The chart below indicates several situations that will have an effect on the supply and demand for cell phones. A. Read each situation. For each, determine: B. a. Which non-price factor caused the shift in the curve? (C-SPITE or GETS TIPS) b. Is the shift in the supply or demand curve? c. Would there be an increase or decrease in the quantity at each price point? d. In which direction on the graph would the shift go? e. If the price stayed the same, would there After completing the chart, illustrate each example and write your economic sentence. Be sure to label each axis, each curve (S1/S2 or D1/D2), and indicate the direction for which the curve is shifting. Be sure to also label points of (A) old equilibrium, B) point of either shortage or surplus, and (C) new equilibrium. For each scenario, create a graph showing the shift and labeling Price, Quantity, (A) Old Equilibrium, (B) Disequilibrium and (C) New Equilibrium. Example: Smartphone Companies lay off 2,000 unnecessary, well paid employees 1. A surgeon general warning states that using smart phones frequently can damage brain cells.. 2. Maldotronics, a new smartphone company, begins operations. 3. In response to consumers' wants, companies offer 3D hologram projector features. 4. The FDA forces companies to install a shield on smart phones in response to the Surgeon General's warnings. 5. New wearable technology (i.e. watches, glasses, etc.) replaces the need for smartphones. 6. After contract negotiations, employees of all smartphone companies agree to a cut in fringe benefits. 7. A new Covid strain ravages the world, wiping out 1/4 of the world's inhabitants. 8. Efficiency is elevated as a new method to solder wires to the circuit board is created. 9. To boost the use of digital technologies, the government pays each smartphone maker $5 for every phone made. 10. Continued inflation hurts businesses, causing unemployment numbers to rise. Demand Non-Pric or e Factor Increase/ Direction Disequilibrium of Shift Decrease Surplus or Supply Cost of Input Increase Right Shortage Surplus Supply demand Adv decrease left Shortage There are various non-price factors that cause shifts in the supply and demand curves, not just movement along the same curves. The chart below indicates several situations that will have an effect on the supply and demand for cell phones. A. Read each situation. For each, determine: B. a. Which non-price factor caused the shift in the curve? (C-SPITE or GETS TIPS) b. Is the shift in the supply or demand curve? c. Would there be an increase or decrease in the quantity at each price point? d. In which direction on the graph would the shift go? e. If the price stayed the same, would there After completing the chart, illustrate each example and write your economic sentence. Be sure to label each axis, each curve (S1/S2 or D1/D2), and indicate the direction for which the curve is shifting. Be sure to also label points of (A) old equilibrium, B) point of either shortage or surplus, and (C) new equilibrium. For each scenario, create a graph showing the shift and labeling Price, Quantity, (A) Old Equilibrium, (B) Disequilibrium and (C) New Equilibrium. Example: Smartphone Companies lay off 2,000 unnecessary, well paid employees 1. A surgeon general warning states that using smart phones frequently can damage brain cells.. 2. Maldotronics, a new smartphone company, begins operations. 3. In response to consumers' wants, companies offer 3D hologram projector features. 4. The FDA forces companies to install a shield on smart phones in response to the Surgeon General's warnings. 5. New wearable technology (i.e. watches, glasses, etc.) replaces the need for smartphones. 6. After contract negotiations, employees of all smartphone companies agree to a cut in fringe benefits. 7. A new Covid strain ravages the world, wiping out 1/4 of the world's inhabitants. 8. Efficiency is elevated as a new method to solder wires to the circuit board is created. 9. To boost the use of digital technologies, the government pays each smartphone maker $5 for every phone made. 10. Continued inflation hurts businesses, causing unemployment numbers to rise. Demand Non-Pric or e Factor Increase/ Direction Disequilibrium of Shift Decrease Surplus or Supply Cost of Input Increase Right Shortage Surplus Supply demand Adv decrease left Shortage