EconUnit3Lesson4 (30)

pdf

School

Houston Community College *

*We aren’t endorsed by this school

Course

ECONOMETRI

Subject

Economics

Date

Feb 20, 2024

Type

pdf

Pages

Uploaded by JusticeBatPerson707

Follow the steps to label and describe each supply curve. 1. Draw an arrow showing the direction in which supply moves for each scenario. 2. Properly identify each supply curve (S, S1, etc. ). 3. Identify the item in question and the reason (according to NICEJAG) for the change. Example: The price of a piece of stock is expected to plummet in two weeks. S1 S Item: stocks – supply increases Reason: expectations 4.1) The government announced that it would increase subsidies for soybean farmers ( soybean market ). P Q Item: _______________________________________________ Reason: ____________________________________________ 4.2) A new gold discovery is made in the northern Siberian plains ( gold market ). P Q Item: _______________________________________________ Reason: ____________________________________________

4.3) An oil well explodes in the Gulf of Mexico ( oil market ). P Q Item: _______________________________________________ Reason: ____________________________________________ 4.4) It is discovered that there is a problem with a new microchip installed in every new smartphone sold by one manufacturer ( smartphone market ). P Q Item: _______________________________________________ Reason: ____________________________________________ 4.5) A town loses three of its five bakeries ( baked goods market ). P Q Item: _______________________________________________ Reason: ____________________________________________

4.6) A dieting fad leads to the increased popularity of pears ( apple market ). P Q Item: _______________________________________________ Reason: ____________________________________________ 4.7) A popular TV chef’s use of chicken livers leads to an increase in demand ( chicken wings market ). P Q Item: _______________________________________________ Reason: ____________________________________________ 4.8) The government passes a new tax on fast food that takes effect immediately ( fast food ) . P Q Item: _______________________________________________ Reason: ____________________________________________

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

4.9) Failure to follow best practices leads to the collapse of the largest mine in the copper-rich country of the Democratic Republic of the Congo ( copper market ). P Q Item: _______________________________________________ Reason: ____________________________________________ 4.10) A new low-cost airline enters the Dallas market to compete with Southwest Airlines ( air travel market ). P Q Item: _______________________________________________ Reason: ____________________________________________

Related Documents

ECON 1202 Problem sets.pdf

EC455_555_Assignment1 (1).pdf

W-2 2023.pdf

PBPL001 Quiz.pdf

opportunity costs.docx

Article Review and Summary Week Two.docx

assignment module 9.docx

Supply Curve Shifting Exercise.docx

F22 Exam 2 MICRO.docx

Econ_Topic_1_Lesson 3.docx

Econ_Topic_2_Lesson_4.2.docx

The Internet of Things (Case Study #3).docx

Recommended textbooks for you

Microeconomics A Contemporary Intro

Economics

ISBN:9781285635101

Author:MCEACHERN

Publisher:Cengage

Managerial Economics: A Problem Solving Approach

Economics

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Cengage Learning

MACROECONOMICS FOR TODAY

Economics

ISBN:9781337613057

Author:Tucker

Publisher:CENGAGE L

Micro Economics For Today

Economics

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Cengage,

Economics For Today

Economics

ISBN:9781337613040

Author:Tucker

Publisher:Cengage Learning

Survey Of Economics

Economics

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Cengage,

SEE MORE TEXTBOOKS

Recommended textbooks for you

Microeconomics A Contemporary Intro
Economics
ISBN:9781285635101
Author:MCEACHERN
Publisher:Cengage
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
MACROECONOMICS FOR TODAY
Economics
ISBN:9781337613057
Author:Tucker
Publisher:CENGAGE L
Micro Economics For Today
Economics
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Cengage,
Economics For Today
Economics
ISBN:9781337613040
Author:Tucker
Publisher:Cengage Learning
Survey Of Economics
Economics
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Cengage,