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SOME QUESTIONS TO THINK ABOUT 1 Describe what happens to the equilibrium price and quantity traded oi soil drinls in response to each oi the...

Question 1: Do I draw separate demand and supply diagrams or combined? Not sure how to answer this question. Do I state how quantity and price change for each demand and supply or do I answer how price and quantity change in relation to both demand and supply?


Screen Shot 2018-08-11 at 4.32.14 PM.png

Screen Shot 2018-08-11 at 4.32.14 PM.png

SOME QUESTIONS TO THINK ABOUT 1 Describe what happens to the equilibrium price and quantity traded oi soil drinls
in response to each oi the following. Explain your answer using a diagram.
a global warming makes for longer and hotter Australian summers
b new health concerns about the presewatiue content in soil drinlrs
c an increase in the price of sugar used to produce soft drinks
d a decrease in the price of petrol 2 Research undertaken by Glenn Jones {yet to be published! found that the price
of abalone was steady from 19:10 to 1960, and then increased from about $19
per pound to 57”} per ground by 200i]. It was also discovered that the price of raw
oysters was steady irorn 136D to 19b0, then increased born about 5i] cents per oyster to SEED per oyster by 193i}. and since 193D has been steady. What
movements in supply and demand would be consistent with the changes in

Top Answer

Here the question asks you to show the effect of these changes on the equilibrium price and quantity. Note that the... View the full answer

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The question relates to how different factors affect the demand for soft drinks, which in turn determines the... View the full answer

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