Good day can you please help me with the answers for impact on: Demand Supply Price Quantity I have also screenshot the option I have to chose from.
Good day can you please help me with the answers for impact on: Demand Supply Price Quantity I have also screenshot the option I have to chose from.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Good day can you please help me with the answers for impact on:
Supply
Quantity
I have also screenshot the option I have to chose from.
![Carefully explain what is happening in the following markets. Indicate the impact if any on demand, supply,
price and quantity
Scenario 2:
Market for Box Fans
WE'RE IN THE MIDDLE OF A
100-DEGREE HEAT WAVE! HOW
COULD YOU SELL OUT OF FANS?!
WHERE ARE
YOUR BOX FANS? SOLD OUT OF THEM.
I'M SORRY, WE'VE
she
Impact on demand Choose.
Impact on supply
Choose.
Impact on price
Choose.
Impact on quantity Choose.
2010 Norman Feuti,
Dist. by King Features Syndicate, Inc.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F30e62c65-24a7-4b98-a69d-6f93d49d4efe%2F69c1fb31-8c0f-45d0-b592-b6631beb8338%2Fsvtz8b_processed.png&w=3840&q=75)
Transcribed Image Text:Carefully explain what is happening in the following markets. Indicate the impact if any on demand, supply,
price and quantity
Scenario 2:
Market for Box Fans
WE'RE IN THE MIDDLE OF A
100-DEGREE HEAT WAVE! HOW
COULD YOU SELL OUT OF FANS?!
WHERE ARE
YOUR BOX FANS? SOLD OUT OF THEM.
I'M SORRY, WE'VE
she
Impact on demand Choose.
Impact on supply
Choose.
Impact on price
Choose.
Impact on quantity Choose.
2010 Norman Feuti,
Dist. by King Features Syndicate, Inc.
![Carefully explain what is happening in the following markets. Indicate the impact if any on demand, supply,
price and quantity
Scenario 2:
Market for Box Fans
Choose.
E MIDDLE OF A
EAT WAVE! HOW
L OUT OF FANS?!
WHERE ARE
Change in quantity uncertain
Excess supply
YOUR BOX FANS?
Decrease equilibrium price
No Impact
Change in price uncertain
Increase equilibrium quantity
Increase equilibrium price
Increase towards equilibrium
Shift Inwards / to left
Shift outwards / to right
Decrease equilibrium quantity
Excess demand
Decrease towards equilibrium
Impact on demand Choose.
Impact on supply
Choose.
Impact on price
Choose.
Impact on quantity Choose.
Dist. by King Features Syndicate, Inc.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F30e62c65-24a7-4b98-a69d-6f93d49d4efe%2F69c1fb31-8c0f-45d0-b592-b6631beb8338%2Fphllavi_processed.png&w=3840&q=75)
Transcribed Image Text:Carefully explain what is happening in the following markets. Indicate the impact if any on demand, supply,
price and quantity
Scenario 2:
Market for Box Fans
Choose.
E MIDDLE OF A
EAT WAVE! HOW
L OUT OF FANS?!
WHERE ARE
Change in quantity uncertain
Excess supply
YOUR BOX FANS?
Decrease equilibrium price
No Impact
Change in price uncertain
Increase equilibrium quantity
Increase equilibrium price
Increase towards equilibrium
Shift Inwards / to left
Shift outwards / to right
Decrease equilibrium quantity
Excess demand
Decrease towards equilibrium
Impact on demand Choose.
Impact on supply
Choose.
Impact on price
Choose.
Impact on quantity Choose.
Dist. by King Features Syndicate, Inc.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
Step 1
1.
Impact in demand = shift outwards towards right
Impact on supply = no impact
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education