14. Determinants of Supply and Demand Consider the market for electric cars. Assume electric cars are a normal good. For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the "None option under the "Supply Determinant" column. Event Demand Determinant Supply Determinant Engineers develop new automated machinery for the production of electric cars. People increase their concern for the environment. An economic boom raises people's wealth. A strike by aluminum workers raises the price of aluminum. The price of gas-powered cars falls.

14. Determinants of Supply and Demand Consider the market for electric cars. Assume electric cars are a normal good. For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the "None option under the "Supply Determinant" column. Event Demand Determinant Supply Determinant Engineers develop new automated machinery for the production of electric cars. People increase their concern for the environment. An economic boom raises people's wealth. A strike by aluminum workers raises the price of aluminum. The price of gas-powered cars falls.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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14. Determinants of Supply and Demand
Consider the market for electric cars. Assume electric cars are a normal good.
For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it
creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event
because it creates only a demand change, select the "None option under the "Supply Determinant" column.
Event
Demand Determinant
Supply Determinant
Engineers develop new automated machinery for the production of
electric cars.
People increase their concern for the environment.
An economic boom raises people's wealth.
A strike by aluminum workers raises the price of aluminum.
The price of gas-powered cars falls.
Show the effect of the following event on the market for electric cars: Engineers develop new automated machinery for the production of
electric cars.
(?
Supply
Demand
Supply
Demand
Quantity of Electric Cars
Show the effect of the following event on the market for electric cars: People increase their concern for the environment.
Supply
Demand
Supply
Demand
Quantity of Electric Cars
Show the effect of the following event on the market for electric cars: An economic boom raises people's wealth.
Supply
Demand
Supply
Demand
Quantity of Electric Cars
Show the effect of the following event on the market for electric cars: A strike by aluminum workers raises the price of aluminum.
Supply
Demand
Supply
Demand
Quantity of Electric Cars
Show the effect of the following event on the market for electric cars: The price of gas-powered cars falls.
(?
Supply
Demand
Supply
Demand
Quantity of Electric Cars
Price of Electric Cars
Price of Bectric Cars
Price of Electric Cars
Price of Electric Cars
Price of Bectric Cars

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