1. Using the six figures above, identify whether the demand or supply curve will witness changes giving the below circumstances: 2. Also explain whether the demand or supply curve will shift to the right or left, or move up or down a. a rise in the price of perfumes b. There is an increase in the number of buyers c. A decrease in the number of sellers of laptops d. A fall in the price of a substitute good e. you are planning to buy a sofa, and the cashier informs you that there is a grand sale next month. Your current action will be ..... f. as a tailor, an fall in the price of fabric will lead to g. government sets price ceiling above the equilibrium price, will lead to...
1. Using the six figures above, identify whether the demand or supply curve will witness changes giving the below circumstances: 2. Also explain whether the demand or supply curve will shift to the right or left, or move up or down a. a rise in the price of perfumes b. There is an increase in the number of buyers c. A decrease in the number of sellers of laptops d. A fall in the price of a substitute good e. you are planning to buy a sofa, and the cashier informs you that there is a grand sale next month. Your current action will be ..... f. as a tailor, an fall in the price of fabric will lead to g. government sets price ceiling above the equilibrium price, will lead to...
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:ECON 101
Assignment 1
Name:
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Section:
Date:
40
Quantity
40
60
80
Quantity
100
20
Quantity
D
F
Price
Price
Quantity
40
60
80
100
Quantity
1. Using the six figures above, identify whether the
demand or supply curve will witness changes
giving the below circumstances:
2. Also explain whether the demand or supply curve
will shift to the right or left, or move up or down
a. a rise in the price of perfumes
b. There is an increase in the number of buyers
c. A decrease in the number of sellers of laptops
d. A fall in the price of a substitute good
e. you are planning to buy a sofa, and the cashier
informs you that there is a grand sale next month.
Your current action will be
f. as a tailor, an fall in the price of fabric will lead to
g. government sets price ceiling above the
equilibrium price, will lead to...
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