econ hmwk 3

econ hmwk 3 - Ryan Linton October 11, 2007 Econ homework 3...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Ryan Linton October 11, 2007 Econ homework 3 1. With the onset of cold weather, the demand for parkas will shift to the left, which means that both the price and the quantity demanded will increase. 2. The invention of this synthetic material will shift the supply curve to the left which will decrease the price while increasing the quantity demanded. 3. The regulations that make it more difficult to get goose down will shift the supply curve to the left which will increase the price while decreasing the quantity demanded. 4. The advent of global warming will cause a shift in the demand of parkas to the left, which will decrease the price as well as the quantity demanded. 5. The increased travel during the summer will lead to a shift to the right in the demand of gasoline, causing both the price and the quantity demanded to increase. 6. The increase demand for gasoline in China and India will cause a shift to the left in the supply of gasoline in the US, which will cause an increase in price as well
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/01/2008 for the course ECON 201 taught by Professor Wallace during the Fall '07 term at Wofford.

Ask a homework question - tutors are online