#1234567009101. For each of the following events, state which curve would shift: the supply curve (S) or theDemand curve (D) or Neither Curve (N). If one of the curves will shift, state whether the curve wouldshift to the right (an increase in supply or demand) or shift to the left (a decrease in supply ordemand).MarketInstantNoodlesiPhonesPeanut ButterPrinter PaperNike ShoesCornOlivesAir TravelRubber TiresStarbucksCoffeeEventPeople's incomes decreased (Instant Noodles arean inferior good)The price of iPhones increasesThe price of peanuts goes upThe price of printers goes upThe price of Adidas shoes goes upSevere windstorms destroy significant amounts ofthe corn cropThe FDA publishes a study describing the negativeside-effects caused by olivesPeople's incomes went upThe price of rubber decreasesThe price of coffee at Dutch Bros goes downWhich curve shifts as aresult?Demand/Supply/NeitherDoes thecurve shiftLeft or Right?(Leave blankif neither)

Answered: 1 2 5 3 Peanut Butter 6 4 Printer Paper…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. For each of the following events, state which curve would shift: the supply curve (S) or the
Demand curve (D) or Neither Curve (N). If one of the curves will shift, state whether the curve would
shift to the right (an increase in supply or demand) or shift to the left (a decrease in supply or
demand).
Market
Instant
Noodles
iPhones
Peanut Butter
Printer Paper
Nike Shoes
Corn
Olives
Air Travel
Rubber Tires
Starbucks
Coffee
Event
People's incomes decreased (Instant Noodles are
an inferior good)
The price of iPhones increases
The price of peanuts goes up
The price of printers goes up
The price of Adidas shoes goes up
Severe windstorms destroy significant amounts of
the corn crop
The FDA publishes a study describing the negative
side-effects caused by olives
People's incomes went up
The price of rubber decreases
The price of coffee at Dutch Bros goes down
Which curve shifts as a
result?
Demand/Supply/Neither
Does the
curve shift
Left or Right?
(Leave blank
if neither)

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DISCLAIMER “Since you have asked multiple questions, we will solve the first three questions for you. If you want any specific question to be solved then please specify the question number or post only that question.”

Demand is the qty. demanded by consumers at various price levels and supply is the qty. supplied by the producers at various price levels of the product. The demand is inversely proportional to the price of the product and the supply is directly proportional to the price of the product.

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