Chapter 5, Problem 9P

To determine

(a)

Impact on the equilibrium price and quantity exchanges in the following case

An increase in income and a decreasing price of a complement for a normal good:-

To determine

(b)

Impact on the equilibrium price and quantity exchanges in the following case

A technological advance and lower input prices:-

To determine

(c)

Impact on the equilibrium price and quantity exchanges in the following case

An increase in the price of a substitute and an increase in income for an inferior good:-

To determine

(d)

Impact on the equilibrium price and quantity exchanges in the following case

Producers' expectations that price will soon fall, and increasingly costly government regulations:-