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Feb 20, 2024

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estion 16 0 / 10 po (Exhibit: Demand and Supply Shifters) The exhibit shows how supply and demand might shift in response to specific events. Suppose oil becomes more expensive. Which panel best describes how this will affect the market for gasoline, which is made from oil? Question options: Panel (a) Panel (b) Panel (c) Panel (d) Question 17 0 / 10 points (Exhibit: Demand and Supply Shifters) The exhibit shows how supply and demand might shift in response to specific events. Suppose half the people in San Diego move to Colorado Springs. Which panel best describes how this will affect the market for houses in Colorado Springs? Question options: Panel (a) Panel (b) Panel (c) Panel (d) Question 18 10 / 10 points (Exhibit: Demand and Supply Shifters) The exhibit shows how supply and demand might shift in response to specific events. Suppose half the people in San Diego pack up and move to Colorado Springs. Which panel best describes how this will affect the supply of houses in San Diego? Question options: Panel (a) Panel (b) Panel (c) Panel (d) Question 19 10 / 10 points (Exhibit: Demand and Supply Shifters) The exhibit shows how supply and demand might shift in response to specific events. Suppose the technology for producing handheld

calculators improves. Which panel best describes how this will affect the market for handheld calculators? Question options: Panel (a) Panel (b) Panel (c) Panel (d)

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