Suppose that clothes workers at a certain factory accept a pay cut of $3 per hour. (a) Draw a graph to show how this would affect the market for clothes. (b) Why does this shift occur? How does that affect the equilibrium price and quantity

Consider the market for wine in the diagram below: 70 Price ($) 60 50 40 30 20 10 S D 100 200 300 400 500 600 700 800 Wine (millions of bottles) $45 and 550 million bottles of wine $45 and 500 million bottles of wine $50 and 600 million bottles of wine $50 and 500 million bottles of wine Suppose supply shifts to the right by 100 million bottles of wine. What would be the new equilibrium price and quantity of wine as a result of this increase in supply?

There is a market for Purses. There is a decrease in the cost of leather. Describe and graph the next scenario.

24 of 100 Suppose that there is a freeze in California that damages the avocado crop. The effect on the market for avocados will be a in the equilibrium price. of the supply curve and a(n). DOOO leftward shift; decrease leftward shift; increase a rightward shift; increase rightward shift; decrease