26. Market Trucking Services Equilibrium price: P Scenario: OPEC announces massive oil production increases, driving down the cost of gasoline Equilibrium quantity: D 27. Market: New Computers Equilibrium price: P Scenario: The U.S. Treasury announces new stimulus checks will be sent all households Equilibrium quantity: D Q 28. Market Strawberry Pies Equilibrium price: Scenario: Shortages of workers in fields to harvest crops lead to higher prices of strawberries Equilibrium quantity: D

26. Market Trucking Services Equilibrium price: P Scenario: OPEC announces massive oil production increases, driving down the cost of gasoline Equilibrium quantity: D 27. Market: New Computers Equilibrium price: P Scenario: The U.S. Treasury announces new stimulus checks will be sent all households Equilibrium quantity: D Q 28. Market Strawberry Pies Equilibrium price: Scenario: Shortages of workers in fields to harvest crops lead to higher prices of strawberries Equilibrium quantity: D

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

Read the scenario and determine if this will change the supply or the demand of the market listed. Show the appropriate change on the graph and indicate what will happen to equilibrium price and quality as a result. Just need help with 26 to 28

26. Market Trucking Services
Equilibrium price:
P.
Scenario: OPEC announces massive oil
production increases, driving down the cost of
gasoline
Equilibrium quantity:
D
27. Market New ComputerS
Equilibrium price:
P
Scenario: The U.S. Treasury announces new
stimulus checks will be sent all households.
Equilibrium quantity:
D
28. Market Strawberry Pies
Equilibrium price:
Scenario: Shortages of workers in fields to harvest
crops lead to higher prices of strawberries
Equilibrium quantity:
Q
O.Focus

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