Using the table; for each line item; write a paragraph describing how the market for each specific product will be affected by the associated event. Describe which curve will shift (demand or supply or both), what effect it will have on price (rise or fall in price), and what will happen to quantity (rise or fall in quantity). Each line item requires a paragraph.

Transcribed Image Text:

Event Price for hamburgers has risen; demand for hot dogs is rising. The President of the United States has released a statement that unemployment is falling, there is a rise Popular in output in the Country, and manufacturing activity is Spots rising. The Chinese government has decided to subsidize its domestic automobile industry with stimulus money. Market for: Manufacturers who use petroleum as an input see prices of crude rising. Hot Dog Buns Vacation Automobiles in China Manufactured goods that use plastic as an input Event Price for hamburgers has risen; demand for hot dogs is rising. The President of the United States has released a statement that unemployment is falling, there is a rise Popular in output in the Country, and manufacturing activity is Spots rising. The Chinese government has decided to subsidize its domestic automobile industry with stimulus money. Market for: Manufacturers who use petroleum as an input see prices of crude rising. Hot Dog Buns Vacation Automobiles in China Manufactured goods that use plastic as an input

Answer rating: 100% (QA)

First event the risen of price for hamburgers consequently demand generate for alternatives which in ... View the full answer