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Identify whether the demand curve will shift rightward

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Chapter 3 Demand & Supply Theory. Macroeconomics.

Question #1: Using demand and supply curves, diagrammatically demonstrate what happens to the equilibrium price and quantity when:

A. An increase in demand that is greater than the increase in supply?
B. Demand falls and supply is constant

Question #2: Use a demand/supply curve or both to graphically demonstrate the following:

A. The demand for automobiles when the price of gasoline rises sharply and stays high.
B. The supply of computers if a tax is placed on the production of computers.

Question #3: Without drawing a graph, identify whether the demand curve will shift rightward or leftward:

A. A decrease in the number of buyers
B. A rise in the price of substitutes

Question #4: Using an appropriate demand or supply curve, demonstrate and explain the economics (if any) in the following observation:

"When fines for driving over the speed limit were $100, the Chula Vista, CA Police department issued on average about 500 speeding tickets. However, when the city council raised the fine for speeding to $250 only 215 tickets were issued."

Reference no: EM131875447

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