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a. Explain how Da Vinci Code fans helped to
raise Eurostar’s sales.
b. CNN commented on the “fierce competition
from budget airlines.” Explain the effect of
this competition on Eurostar’s sales.
c. What markets in Paris do you think these fans
influenced? Explain the influence on three
13. Of Gambling, Grannies, and Good Sense
Nevada has the fastest growing elderly population of any state. … Las Vegas has … plenty of
jobs for the over 50s.
The Economist, July 26, 2006
Explain how grannies have influenced the
a. Demand side of some Las Vegas markets.
b. Supply side of other Las Vegas markets. 14. Use the link on MyEconLab (Textbook Resources,
Chapter 3, Web Links) to obtain data on the prices
and quantities of bananas in 1985 and 2002.
a. Make a graph to illustrate the market for
bananas in 1985 and 2002.
b. On the graph, show the changes in demand
and supply and the changes in the quantity
demanded and the quantity supplied that are
consistent with the price and quantity data.
c. Why do you think the demand for and supply
of bananas changed?
15. Use the link on MyEconLab (Textbook Resources,
Chapter 3, Web Links) to obtain data on the price
of oil since 2000.
a. Describe how the price of oil changed.
b. Use a demand-supply graph to explain what
happens to the price when supply increases or
decreases and demand is unchanged.
c. What do you predict would happen to the
price of oil if a new drilling technology permitted deeper ocean sources to be used?
d. What do you predict would happen to the
price of oil if a clean and safe nuclear technology were developed?
e. How does a higher price of oil influence the
market for ethanol?
f. How does an increase in the supply of ethanol
influence the market for oil? 9160335_CH03_p053-080.qxd 6/22/09 8:56 AM Page 79 Problems and Applications 21. In 2008, as the prices of homes fell across the
United States, the number of homes offered for
a. Does this fact illustrate the law of demand or
the law of supply? Exp...
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