Think about the following cases and put in the relevant column to show which category they belong to. Case Scenario Change in Qd Change in Demand 1. People are becoming more aware about their health and believe that ice cream Applicable Applicable is very unhealthy to them 2. The price of Nike sports Non applicabl Non applicab shoes increases 3. The technique for producing mobile phones is improving which causes a price reduction 4. The price for DVD players is decreasing. How will this Applicable Applicable Non applicabl Non applicabl affect the market for VCD players? 5. Due to keen competition among the internet service providers/NOW.com has Non applicabt Non applicabl exempted the installation fees for consumers 6. Summer comes early this year. What will happen to the air conditioner market? Applicable Applicable
Think about the following cases and put in the relevant column to show which category they belong to. Case Scenario Change in Qd Change in Demand 1. People are becoming more aware about their health and believe that ice cream Applicable Applicable is very unhealthy to them 2. The price of Nike sports Non applicabl Non applicab shoes increases 3. The technique for producing mobile phones is improving which causes a price reduction 4. The price for DVD players is decreasing. How will this Applicable Applicable Non applicabl Non applicabl affect the market for VCD players? 5. Due to keen competition among the internet service providers/NOW.com has Non applicabt Non applicabl exempted the installation fees for consumers 6. Summer comes early this year. What will happen to the air conditioner market? Applicable Applicable
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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