a) user-friendly software would INCREASE the demand for computers. You are correct about supply. So, Q goes up, price change uncertain.
b) higher energy costs should DECREASE supply (shift inward), Increased interest in skiing increases demand, So, Price goes up, change in Q uncertain.
c) housing: I agree
d) eggs: I agree
e) management: I agree
I have to draw some Supply/demand curves and I want to know if they are right
Personal computers: more user-friendly software become available and the costs of inputs are reduced.
Supply moves to the right, demand moves to the left, quantity goes up and so does price
Hospital services: higher wages paid to hospital employees accompanied by 4% increases in output per labor hour.
Supply moves to the right, demand does not move, quantity goes up and price goes down
Lift tickets for skiing: increased interest in skiing; higher costs for energy used by snow making machines (in a year with little snow temps in 20's F).
Supply does not move, demand moves to the right, quantity goes up and price goes up.
one-family housing: rise in interest rates for builders and for prospective owners.
Supply moves to the left, demand moves to the left, quantity goes down and price cannot be determined
eggs: trends towards lighter breakfasts and lower cholesterol diets; higher cost of chicken feed
Supply moves to the left, demand moves to the left, quantity goes down and price cannot be determined
management information system experts: increased global activity by firms
Supply does not move, demand moves to the right, quantity goes up and price goes up
1 answer
1 answer