Solution) For each event, illustrate the impact on the relevant market and determine what will happen to the e
Question: For each event, illustrate the impact on the relevant market and determine what will happen to the equilibrium price and quantity in that market. (40 points – 10 points per line item)
| Event | Market for: | Show which curve shifts | Equilibrium price rise or fall? | Equilibrium quantity increase or decrease? |
| Economic growth is expected to improve in the next two quarters. | Aluminum | |||
| Plastics production capacity has increased. | Plastics | |||
| The Japanese government has decided to subsidize its domestic automobile producers with stimulus money. | Automobiles | |||
| Manufacturers who use plastic as an input have access to cheaper plastic. | Manufactured goods that use plastic as an input |
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Solution: The solution file consists of 2 pages
Deliverable: Word Document
Deliverable: Word Document
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