4. Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following events. a. The market for newspapers in your town. Case 1: Case 2: The salaries of journalists go up. There is a big news event in your town, which is reported in the newspapers. b. The market for St. Louis Rams cotton T-shirts. Case 1: Case 2: The Rams win the national championship. The price of cotton increases. c. The market for bagels. Case 1: People realize how fattening bagels are
4. Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following events. a. The market for newspapers in your town. Case 1: Case 2: The salaries of journalists go up. There is a big news event in your town, which is reported in the newspapers. b. The market for St. Louis Rams cotton T-shirts. Case 1: Case 2: The Rams win the national championship. The price of cotton increases. c. The market for bagels. Case 1: People realize how fattening bagels are
Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781305971509
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
Problem 9PA
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