Effect on the demand and supply curve. Concept Introduction: Demand curve shows all the possible combinations of price and quantity demanded of the good at a given time period. Supply curve shows all the possible combinations of price and quantity supplied of the good at a given time period.

Question

Want to see more full solutions like this?

Answer 1

Question

100%

Chapter 4, Problem 1P

To determine

Effect on the demand and supply curve.

Concept Introduction:

Demand curve shows all the possible combinations of price and quantity demanded of the good at a given time period.

Supply curve shows all the possible combinations of price and quantity supplied of the good at a given time period.

Expert Solution & Answer

Explanation of Solution

a. Due to the new cure of lung cancer, the smoker will demand more cigarettes because there is a cure of the lung cancer now. This will shift the demand curve to the right.

b. Due to the increase in the price of cigars, the demand curve of the cigarettes will shift to the right because cigars are the substitute of the cigarettes.

c. Due to the increase in the wage, the demand curve of the cigarettes will shift to the right because people now have more money to spend.

d. Due to the discovery of the new fertilizer, the supply curve of the cigarettes will shift to the right because of the increase in the productivity.

e. Due to the increase in the price of matches or lighter, the demand curve will shift to the left because matches or lighter and cigarettes are complementary goods.

f. Due to the new laws which restricts the smoking in public places, the demand curve of the cigarettes will shift to the left because everybody has to respect the law.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

This Wendy’s commercial confuses the notions of appreciation and consumer surplus. Recall that consumer surplus is the difference between what a consumer is willing to pay for a good and what they actually pay for it. According to standard economic theory, consumer surplus must always be

In economics, the cost of producing a good: Question 6 options: is the maximum value of other goods that could have been produced using the same resources. equals the out-of-pocket costs incurred in producing the good. is the value of inputs used up in production. is the value of other goods that could have been produced using the same resources.

Please correct answer and don't used hand raiting and don't used Ai solution

Answer 2

Question

100%

Chapter 4, Problem 1P

To determine

Effect on the demand and supply curve.

Concept Introduction:

Demand curve shows all the possible combinations of price and quantity demanded of the good at a given time period.

Supply curve shows all the possible combinations of price and quantity supplied of the good at a given time period.

Expert Solution & Answer

Explanation of Solution

a. Due to the new cure of lung cancer, the smoker will demand more cigarettes because there is a cure of the lung cancer now. This will shift the demand curve to the right.

b. Due to the increase in the price of cigars, the demand curve of the cigarettes will shift to the right because cigars are the substitute of the cigarettes.

c. Due to the increase in the wage, the demand curve of the cigarettes will shift to the right because people now have more money to spend.

d. Due to the discovery of the new fertilizer, the supply curve of the cigarettes will shift to the right because of the increase in the productivity.

e. Due to the increase in the price of matches or lighter, the demand curve will shift to the left because matches or lighter and cigarettes are complementary goods.

f. Due to the new laws which restricts the smoking in public places, the demand curve of the cigarettes will shift to the left because everybody has to respect the law.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

100%

Chapter 4, Problem 1P

To determine

Effect on the demand and supply curve.

Concept Introduction:

Demand curve shows all the possible combinations of price and quantity demanded of the good at a given time period.

Supply curve shows all the possible combinations of price and quantity supplied of the good at a given time period.

Expert Solution & Answer

Explanation of Solution

a. Due to the new cure of lung cancer, the smoker will demand more cigarettes because there is a cure of the lung cancer now. This will shift the demand curve to the right.

b. Due to the increase in the price of cigars, the demand curve of the cigarettes will shift to the right because cigars are the substitute of the cigarettes.

c. Due to the increase in the wage, the demand curve of the cigarettes will shift to the right because people now have more money to spend.

d. Due to the discovery of the new fertilizer, the supply curve of the cigarettes will shift to the right because of the increase in the productivity.

e. Due to the increase in the price of matches or lighter, the demand curve will shift to the left because matches or lighter and cigarettes are complementary goods.

f. Due to the new laws which restricts the smoking in public places, the demand curve of the cigarettes will shift to the left because everybody has to respect the law.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

100%

Chapter 4, Problem 1P

To determine

Effect on the demand and supply curve.

Concept Introduction:

Demand curve shows all the possible combinations of price and quantity demanded of the good at a given time period.

Supply curve shows all the possible combinations of price and quantity supplied of the good at a given time period.

Expert Solution & Answer

Explanation of Solution

a. Due to the new cure of lung cancer, the smoker will demand more cigarettes because there is a cure of the lung cancer now. This will shift the demand curve to the right.

b. Due to the increase in the price of cigars, the demand curve of the cigarettes will shift to the right because cigars are the substitute of the cigarettes.

c. Due to the increase in the wage, the demand curve of the cigarettes will shift to the right because people now have more money to spend.

d. Due to the discovery of the new fertilizer, the supply curve of the cigarettes will shift to the right because of the increase in the productivity.

e. Due to the increase in the price of matches or lighter, the demand curve will shift to the left because matches or lighter and cigarettes are complementary goods.

f. Due to the new laws which restricts the smoking in public places, the demand curve of the cigarettes will shift to the left because everybody has to respect the law.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Question

100%

Answer 6

Question

100%

Answer 7

Chapter 4, Problem 1P

To determine

Effect on the demand and supply curve.

Concept Introduction:

Demand curve shows all the possible combinations of price and quantity demanded of the good at a given time period.

Supply curve shows all the possible combinations of price and quantity supplied of the good at a given time period.

Expert Solution & Answer

Explanation of Solution

a. Due to the new cure of lung cancer, the smoker will demand more cigarettes because there is a cure of the lung cancer now. This will shift the demand curve to the right.

b. Due to the increase in the price of cigars, the demand curve of the cigarettes will shift to the right because cigars are the substitute of the cigarettes.

c. Due to the increase in the wage, the demand curve of the cigarettes will shift to the right because people now have more money to spend.

d. Due to the discovery of the new fertilizer, the supply curve of the cigarettes will shift to the right because of the increase in the productivity.

e. Due to the increase in the price of matches or lighter, the demand curve will shift to the left because matches or lighter and cigarettes are complementary goods.

f. Due to the new laws which restricts the smoking in public places, the demand curve of the cigarettes will shift to the left because everybody has to respect the law.

Answer 8

Chapter 4, Problem 1P

To determine

Effect on the demand and supply curve.

Concept Introduction:

Demand curve shows all the possible combinations of price and quantity demanded of the good at a given time period.

Supply curve shows all the possible combinations of price and quantity supplied of the good at a given time period.

Expert Solution & Answer

Explanation of Solution

a. Due to the new cure of lung cancer, the smoker will demand more cigarettes because there is a cure of the lung cancer now. This will shift the demand curve to the right.

b. Due to the increase in the price of cigars, the demand curve of the cigarettes will shift to the right because cigars are the substitute of the cigarettes.

c. Due to the increase in the wage, the demand curve of the cigarettes will shift to the right because people now have more money to spend.

d. Due to the discovery of the new fertilizer, the supply curve of the cigarettes will shift to the right because of the increase in the productivity.

e. Due to the increase in the price of matches or lighter, the demand curve will shift to the left because matches or lighter and cigarettes are complementary goods.

f. Due to the new laws which restricts the smoking in public places, the demand curve of the cigarettes will shift to the left because everybody has to respect the law.

Answer 9

Chapter 4, Problem 1P

To determine

Effect on the demand and supply curve.

Concept Introduction:

Demand curve shows all the possible combinations of price and quantity demanded of the good at a given time period.

Supply curve shows all the possible combinations of price and quantity supplied of the good at a given time period.

Answer 10

Expert Solution & Answer

Explanation of Solution

a. Due to the new cure of lung cancer, the smoker will demand more cigarettes because there is a cure of the lung cancer now. This will shift the demand curve to the right.

b. Due to the increase in the price of cigars, the demand curve of the cigarettes will shift to the right because cigars are the substitute of the cigarettes.

c. Due to the increase in the wage, the demand curve of the cigarettes will shift to the right because people now have more money to spend.

d. Due to the discovery of the new fertilizer, the supply curve of the cigarettes will shift to the right because of the increase in the productivity.

e. Due to the increase in the price of matches or lighter, the demand curve will shift to the left because matches or lighter and cigarettes are complementary goods.

f. Due to the new laws which restricts the smoking in public places, the demand curve of the cigarettes will shift to the left because everybody has to respect the law.