RI Dang x | Ares x | Log| x |4 Lectu x | Micrc x | Pears x _ Hom x 4 QMS. X |4 Lectu x | Ares x | Lectu X | af12r x | Micrc x | 01-A x | G Aran X R Quiz: X G equil x Q The x |+ X + -> C A courses.ryerson.ca/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d21?ou=5437778isprv=&drc=0&qi=273924&cfql=1&dnb=0&fromQB=0 Assignment 2 X Est. Length: 0:45:00 Quan Chu: Attempt 1 Page 1: Question 4 (1 point) 1 2 3 Consider the market for oil which starts in equilibrium and has standard demand and supply curves. As countries open up after lockdowns, consumers expect that the price of oil will go up in the future. What effect will this have on the equilibrium price 4 5 6 of oil? It will go up 8 9 -- -- Cannot be determined 10 11 12 -- It will go down 13 14 15 No effect on the equilibrium price because people's expectations are about the -- -- -- future Question 5 (1 point) Consider the market for newspapers shown below. As this is an election year the demand for newspapers has increased by a 100 newspapers at each price. What is the new equilibrium quantity in the market? Market for Newspapers $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 Type here to search 18C Sunny ~ () ENG 6:16 PM 9/29/2021