What are the consequences of this restriction on quantity? (surplus/shortage) Explain.

based on the table how would you graph?

What happened to the equilibrium price and quantity of Chick-fil-A when Popeye's released their chicken sandwich? A. Price decrease, Quantity decrease B. Price decrease, Quantity increase C. Price increase, Quantity decrease D. Price increase, Quantity increase

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.