Choose the most likely demand shifter (the things that shift demand)

Question # 00848798 Posted By: wildcraft Updated on: 12/18/2023 11:39 PM Due on: 12/19/2023
Subject Economics Topic General Economics Tutorials:
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Choose a good or service.  It should be something that is currently available for purchase.

1) Choose the most likely demand shifter (the things that shift demand) for your product and explain why and how the demand curve is most likely to shift if there is a change in that demand shifter.  If the demand curve shifts in the way you are suggesting, what will happen to equilibrium price and quantity?

2) Choose the most likely supply shifter (the things that shift supply) for your product and explain why and how the supply curve is most likely to shift if there is a change in that supply shifter.  If the supply curve shifts in the way you are suggesting what will happen to equilibrium price and quantity?

3) If both the supply and demand curves shift in the way you suggested in #1 & #2 above, what will happen to equilibrium price and quantity?

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  1. Tutorial # 00844261 Posted By: wildcraft Posted on: 12/18/2023 11:39 PM
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