Question: The situations below include an event and a market. For each situation, determine how the event would affect the market equilibrium price and quantity of
The situations below include an event and a market. For each situation, determine how the event would affect the market equilibrium price and quantity of the market, and sort the situation into the appropriate category.
HINT: Draw the Supply or Demand shift on a graph. Then you can read the graph to see what happened to the equilibrium price and quantity.
Items itemsDrag and drop into the appropriate area below
the cost of peanuts falls: peanut butterthe price of broccoli falls: carrotsthe US government imposes a tariff on tequilaa serious military conflict in the Middle East breaks out: crude oilconsumer income increases: carsa faster espresso machine: cappuccinos at coffee shopsthe price of coffee rises: cream
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