Shifting SupplyDirections: Determine how each of the following scenarios will impact supply for the market indicated. Graph the shifton the graph, label each graph, identify the shifter and indicate if supply will increase, decrease or not change.EXAMPLEMarket: bicyclesScenario: New machinery cutsproduction time of bicycle chains inhalf.1. Market: BreadScenario: A drought hits the Midwest anddestroys 1/3 of wheat crops.2. Market: OilScenario: Producers expect the price of oilto increase in six months.3. Market: Hybrid CarsScenario: The government has enacted aprogram that gives subsidies to producers offuel efficient cars.4. Market: Desktop ComputersScenario: An increase in demand for laptopscauses laptop prices to increase 125%.5. Market: CerealScenario: Three new manufacturers enterthe breakfast cereal market.PVELSVyPPS S₁ Shifter: TechnologySPvVSSSQQQQName.DateQQChange in Supply: IncreaseShifter:urceChange in Supply: DecreaseShifter: ExpectationsChange in Supply: IncreaseShifter:Change in Supply:PeriodShifter:Change in Supply:Shifter:Change in Supply:© 2014 The Social Studies Emporium

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Directions: Determine how each of the following scenarios will impact supply for the market indicated. Graph the shift on the graph, label each graph, identify the shifter and indicate if supply will increase, decrease or not change.

Directions: Determine how each of the following scenarios will impact supply for the market indicated. Graph the shift on the graph, label each graph, identify the shifter and indicate if supply will increase, decrease or not change.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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