Скачать или смотреть Supply and Demand Scenario: A Change In Population

Here are eight scenarios affecting the market for 2% milk in Phoenix. In each case, begin with a market equilibrium of $2 and 800 liters. Decide which curve is affected, which way it shifts, and what the new equilibrium will be. The actual numerical values are immaterial, the direction of the change is what is important.
a) Supermarket workers win a wage increase.
b) A new grocery store opens in Phoenix.
c) Rumors abound among consumers that milk prices are going to rise very soon.
d) The price of cornflakes falls (assume that 2% milk and cornflakes are complements).
e) The price of skim milk falls (assume that skim and 2% milk are substitutes).
f) A new income tax cut goes into operation with immediate effect.
g) A technological improvement means that less milk is lost in processing than before.
h) The population of Phoenix starts to grow as Winter visitors arrive from colder climates.