ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Demand and Supply Shifts
a. A right shift is an increase and a left shift is a decrease.
b. Fill in the table to show what happens to price and quantity.
Price
(Increase or Decrease)
Demand increases
Demand decreases
Supply increase
Supply decrease
Change in Non-price
Determinant
There is an increase in
population.
Indicate if the change in a non-price determinant will affect the Demand OR Supply of SUVs this month. SUVs and
pick up trucks are substitutes.
It becomes more profitable
to produce trucks. The
price of trucks rises.
The price of public
transportation falls.
Price
The price of steel used to
produce SUVS decreases.
Does it affect S
or D for SUVs?
Does it increase
or decrease?
Quantity
(Increase or Decrease)
What happens to Price of
SUVs?
Quantity
What will
happen to
Qd? Increase
or Decrease?
What will
happen to
Qs? Increase
or Decrease?
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Transcribed Image Text:Demand and Supply Shifts a. A right shift is an increase and a left shift is a decrease. b. Fill in the table to show what happens to price and quantity. Price (Increase or Decrease) Demand increases Demand decreases Supply increase Supply decrease Change in Non-price Determinant There is an increase in population. Indicate if the change in a non-price determinant will affect the Demand OR Supply of SUVs this month. SUVs and pick up trucks are substitutes. It becomes more profitable to produce trucks. The price of trucks rises. The price of public transportation falls. Price The price of steel used to produce SUVS decreases. Does it affect S or D for SUVs? Does it increase or decrease? Quantity (Increase or Decrease) What happens to Price of SUVs? Quantity What will happen to Qd? Increase or Decrease? What will happen to Qs? Increase or Decrease?
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