Directions: For questions 29-31, consider the production of oatmeal. For each question, draw on the graph provided what will happen under the given circumstances. For example, will the curve shift left or right? 29. The government decides to offer a subsidy to all oat grain producers. How will this impact the supply of oatmeal? Label this curve Sl. 30. Technology is invented to make producing oatmeal more efficient and cost effective. What will happen to the supply for all oatmeal? Label this curve S2. 31. A massive flood in South Dakota damages thousands of oat grain crops. How will this impact the supply for oatmeal ?
Directions: For questions 29-31, consider the production of oatmeal. For each question, draw on the graph provided what will happen under the given circumstances. For example, will the curve shift left or right? 29. The government decides to offer a subsidy to all oat grain producers. How will this impact the supply of oatmeal? Label this curve Sl. 30. Technology is invented to make producing oatmeal more efficient and cost effective. What will happen to the supply for all oatmeal? Label this curve S2. 31. A massive flood in South Dakota damages thousands of oat grain crops. How will this impact the supply for oatmeal ?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Directions: For questions 29-31, consider the production of oatmeal. For each question, draw on the graph
provided what will happen under the given circumstances. For example, will the curve shift left or right?
29. The government decides to offer a subsidy to all oat grain
producers. How will this impact the supply of oatmeal? Label
this curve Sl.
30. Technology is invented to make producing oatmeal more
efficient and cost effective. What will happen to the supply for
all oatmeal? Label this curve S2.
31. A massive flood in South Dakota damages thousands of oat
grain crops. How will this impact the supply for oatmeal ?
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