For example, if a rightward shift in the supply curve for an item were caused by an increase in the number of producers of that item, you would indicate this be entering 11 into the relevant blank. If the demand curve shifted to the left because people didn't like that item anymore (like mimeograph machines), you'd enter 1 into the blank.

In questions 1 - 10, you will be analyzing the copper market. Each of these 10 questions will deal with the supply and demand of copper. Remember, the consumers of copper are usually builders and construction firms. Only one curve shifts per problem. Ready? Ok, so here's the first one -- What would happen in the copper market if:

Governments around the world increase business taxes on the mining of copper.

Demand Blank 1

Supply: Blank 2

Equilibrium price: Blank 3

Equilibrium quantity exchanged Blank 4

Which determinant changed? (enter a number, 1 through 11) Blank 5

Determinants of Demand:

1. Change in buyer tastes

2. Change in number of buyers

3. Change in income

4. Change in the prices of related goods (on the demand side)

5. Change in consumer expectations

Determinants of Supply:

6. Change in resource prices

7. Change in technology

8. Changes in taxes and subsidies

9. Change in prices of related goods (on the supply side)

10. Change in producer expectations

11. Change in the number of suppliers

Answer rating: 100% (QA)

Copper Market Analysis Increased Business Taxes on Mining Heres how the copper market would react to ... View the full answer