Determine if the quantity supplied changed (which means only the price of chocolate has changed), or if the entire supply has changed. If only quantity supplied changed, circle “No Change.” If the entire supply has changed, identify if it was an increase or a decrease, and identify which determinant of supply is responsible.

se the supply schedule below to answer the questions that follow.   Supply of Flower Bouquets Price (dollars per bouquet) Quantity of Bouquets Supplied $40 80 35 60 30 50 25 40 20 30 15 20   Instructions: Enter your answers as a whole number.   a. What is the quantity of bouquets supplied if the market price is $20?         bouquets of flowers

Many changes are affecting the market for oil. Predict how each of the following events will affect the equilibrium price and quantity in the market for oil. (On a piece of scratch paper you should use the 4 step method, draw a diagram, and determine directions of price and quantity) v Cars are becoming more fuel efficient, and therefore get more miles to the gallon. A. price increase, quantity increase B. price decrease, quantity decrease v The winter is exceptionally cold, people need more oil to stay warm C. price decrease, quantity increase v A major discovery of new oil is made off the coast of Norway. D. price increase, quantity decrease v The economies of some major oil-using nations, like Japan, slow down v A war in the Middle East disrupts oil-pumping schedules v Landlords install additional insulation in buildings v The price of solar energy falls dramatically.

6. How will the following events affect equilibrium price and quantity for the product highlighted in italics? In each case, identify how the supply or demand curve shifts.   a. A drop in consumer incomes influences the demand for dry cleaning b. Declining numbers of law school graduates affect the supply of legal services c. Consumer expectations that the price of turkeys will soon rise affect the current demand for turkeys d. A cost-saving technological innovation influences the supply of rice