Question: Possible Shift #1 Possible Shift #2 S S D2 D, Q Q 1. Which line shifted? 6. Which line shifted? 2. Was it an increase

Possible Shift #1 Possible Shift #2 S S D2 D, Q

Possible Shift #1 Possible Shift #2 S S D2 D, Q Q 1. Which line shifted? 6. Which line shifted? 2. Was it an increase or decrease for the 7. Was it an increase or decrease for the line that shifted? line that shifted? 3. What happened to equilibrium price as 8. What happened to equilibrium price as a result of the shift? a result of the shift? 4. What happened to equilibrium 9. What happened to equilibrium quantity as a result of the shift? quantity as a result of the shift? 5. If this was the market for gasoline, 10. If this was the market for gasoline, what might cause a shift like this one? what might cause a shift like this one? Possible Shift #3 Shift #4 S, $2 S, S. D D Q Q 11. Which line shifted? 16. Which line shifted? 12. Was it an increase or decrease for the 17. Was it an increase or decrease for the line that shifted? line that shifted? 13. What happened to equilibrium price as 18. What happened to equilibrium price as a result of the shift? a result of the shift? 14. What happened to equilibrium 19. What happened to equilibrium quantity as a result of the shift? quantity as a result of the shift? 15. If this was the market for gasoline, 20. If this was the market for gasoline, what might cause a shift like this one? what might cause a shift like this one

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