Question: Hi can you please help with these questions This question ask you to perform a comparative statics analysis in the market for ice cream when

 Hi can you please help with these questions This question ask

Hi can you please help with these questions

you to perform a comparative statics analysis in the market for ice

This question ask you to perform a comparative statics analysis in the market for ice cream when multiple exogenous changes occur at the same time. Consider the market for ice cream, represented by the following diagram. P 0 o For each of the following scenarios, determine the effect on the equilibrium price and the equilibrium quantity in the market for ice cream. (a) Sellers expect the price of ice cream to rise in the future and, at the same time, technology improves such that consumers can make their own ice cream at home. The equilibrium price [53'6\"] and the equilibrium quantity [SElECt] . (b) The commercial fridges used to keep ice cream cold become more expensive and, at the same time, the price of frozen yoghurt (a substitute of ice cream) falls. The equilibrium price 4! [SElECtl and the equilibrium quantity [salad] (c) Suppose that ice cream is a normal good and buyers receive less income. At the same time, however, the number of ice cream sellers increase. The equilibriumnrice..._____.______.______.____.____._.__.____ J [Select] increases decreases could increase or decrease [Select] and the equilibrium quanti

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