Scenario Graph change Impact on Equilibrium price and quantity (increase or decrease) 23. Market: Sugar produced in the United Equilibrium price: States P Scenario: Tariffs on imported sugar lead U.S. sugar to buy more from U.S. sugar producers Equilibrium quantity: Q 24. Market: Soybeans produced in the United Equilibrium price: States Scenario: Umversity of Califormia researchers discover a new fertilizer that improves soybean Equilibrium quantity: crops Q 25. Market Chunky Monkey Ice Cream Equilibrium price: Scenario: Social Media Influencer superstar, Van Camp, advertises Kemp's Vanilla Frozen Yogurt to her 100 million Instagram followers Equilibrium quantity: D P

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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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 23 to 25
Scenario
Graph change
Impact on Equilibrium
price and quantity
(increase or decrease)
23. Market Sugar produced in the United
States
Equilibrium price:
Scenario: Tariffs on imported sugar lead U.S.
sugar to buy more from U.S. sugar producers
Equilibrium quantity:
Q
24. Market: Soybeans produced in the United
States
Equilibrium price:
P.
Scenario: University of Califormia researchers
discover a new fertilizer that improves soybean
crops
Equilibrium quantity:
D.
Q
25. Market Chunky Monkey Ice Cream
Equilibrium prie:
Scenario: Social Media Influencer superstar, Van
Equilibrium quantity:
Camp, advertises Kemp's Vanilla Frozen Yogurt
to her 100 million Instagram followers
D.
Q
26. Market: Trucking Services
Equilibrium price:
P.
Scenario: OPEC announces massive oil
production increases, driving down the cost of
gasoline
Equilibrium quantity:
D
ది
Transcribed Image Text:Scenario Graph change Impact on Equilibrium price and quantity (increase or decrease) 23. Market Sugar produced in the United States Equilibrium price: Scenario: Tariffs on imported sugar lead U.S. sugar to buy more from U.S. sugar producers Equilibrium quantity: Q 24. Market: Soybeans produced in the United States Equilibrium price: P. Scenario: University of Califormia researchers discover a new fertilizer that improves soybean crops Equilibrium quantity: D. Q 25. Market Chunky Monkey Ice Cream Equilibrium prie: Scenario: Social Media Influencer superstar, Van Equilibrium quantity: Camp, advertises Kemp's Vanilla Frozen Yogurt to her 100 million Instagram followers D. Q 26. Market: Trucking Services Equilibrium price: P. Scenario: OPEC announces massive oil production increases, driving down the cost of gasoline Equilibrium quantity: D ది
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