HW2 - Econ 1 Tang Fall Quarter 2007 Homework 2 Chapters 3 4...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 1: Tang Fall Quarter 2007 Due Wednesday October 17, at the beginning of class. Please write your name, PID, and section number/TA name on your homework. 1. Graph and shift the market or individual demand or supply curves accordingly. a) In the market for gasoline, the price of powerboats falls drastically. b) In the market for Tuna, the government releases a study revealing that eating Tuna reduces cholesterol. c) Jane likes butter or cream cheese on her bagels, and the price of butter rises. What happens to her demand curve for cream cheese and her demand curve for butter? d) In the market for salmon, the state of Alaska increases the number of commercial fishing licenses. e) In the market for funeral plots, the average age of the population rises. f) In the market for textbooks, publishing companies expect a federal regulation setting maximum textbook prices to be enacted in three months. 2. Graph the effect on equilibrium price and quantity in the market for oranges
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

HW2 - Econ 1 Tang Fall Quarter 2007 Homework 2 Chapters 3 4...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online