Instructions:

Graph each of the scenarios from no. 1 to 10 given below, showing the movement of the supply curve from 1 to 5, and the movement of the demand curve from 6 to 10. You must include an arrow in each case to indicate the movement or shift of the curve. Use a ruler if you should do it manually then take a screenshot, and compile them on an MS Word sheet. You may graph directly using MS Word to draw the lines and indicate the symbols. Indicate P on the vertical axis, and Q in the horizontal axis. Compress your graphs for Part I in one sheet, Along with your answers in Part II, submit a pdf copy on Canvas.

With Demand Constant Supply is affected when	Price Increases Or Decreases?	Quantity Increases Or Decreases?
1. the government increased the import quota on pork
2. Typhoon Maring destroyed the rice crop.
3. More firms entered the coffee business.
4. Price of chicken feeds increased.
5. Subsidies to corn farmers were given by gov't.
With Supply Constant Demand is affected when	Price Increases Or Decreases?	Quantity Increases Or Decreases?
6. More consumers for Christmas decors.
7. Higher taxes were imposed on sugary foods.
8. More babies being born, effect on demand for babies' needs.
9. Losing interest on Korean novels.
10. Rainy and cold weather, effect on demand for tea

Part II(20 points)

Instructions:

Identify each of the given above whether Increase or Decrease in Equilibrium price and quantity. Refer to your graph to see the effect on price and quantity.

Submit only your answers, do not copy the questions. Your answer sheet should look like this shown below, minus the underscoring showed only here to signify you need to fill it up with your answers.

Sample answer sheet:

1. 1. a. Price Decreases b. Quantity __________
2. 2. a. Price _________ b. Quantity __________
3. 3.
4. 4.
5. 5.
6. 6.
7. 7.
8. 8.
9. 9.
10. 10.
11. 
    
12. 
    

Answer rating: 100% (QA)

Part 1 Part 2 Price P P1 P2 Price P A P2 P... View the full answer