Answer impact on quantity ECON1000 - Principles of Economics | S1 20/21Question 4Question 1dIncompleteCarefully explain what is happening in the following markets. Indicate the impact if any on demand, supply, price and quantity:answerMarked out of(d) Electricity is a major input into the production of aluminium, and aluminium is a substitute in supply for steel. In the market for steel, the effect of an increase in price of electricity.6.00Remove flagImpact on demandNo impactImpact on supplyShift outwards /to rightImpact on priceDecrease equilibrium priceImpact on quantity Choose..Please answer all pa Choose...Increase equilibrium quantityNext pageNo impactPrevious pageChange in price uncertainExcess supplyIncrease equilibrium priceDecrease towards equilibriumDecrease equilibrium priceIncrease towards equilibriumChange in quantity uncertainShift inwards / to leftExcess demandDecrease equilibrium quantityShift outwards / to rightAW

Electricity is a major input into production of aluminium. When price of electricity will increase…

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Economics

impact on quantity

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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