1. What happens in the identified market to either demand or supply when the following events take place? (Please do not over think this!- only one side will be impacted initially) Demand Increase/Decreas Identify the Event factor/reason that Is responsible for any change Market or Supply e or No Change Issue Buyers expect con prices to rise next month Con Ice Cream The government decides to charge a $0.25 ice cream tax to producers of ice cream New electrical engines are developed that decrease gas consumption by 40% (Gas is refined from oil) New research shows that eating an apple a day reduces cancer. Oil Pears
1. What happens in the identified market to either demand or supply when the following events take place? (Please do not over think this!- only one side will be impacted initially) Demand Increase/Decreas Identify the Event factor/reason that Is responsible for any change Market or Supply e or No Change Issue Buyers expect con prices to rise next month Con Ice Cream The government decides to charge a $0.25 ice cream tax to producers of ice cream New electrical engines are developed that decrease gas consumption by 40% (Gas is refined from oil) New research shows that eating an apple a day reduces cancer. Oil Pears
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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