1. You grow cotton and Eli Whetney just invented the cotton gin. 2. A hurricane is predicted to hit the rich coffee growing areas of Colombia. You sell coffee. 3. Congress just passed a tax credit for energy effiecent home improvements. You sell solar panels.
1. You grow cotton and Eli Whetney just invented the cotton gin. 2. A hurricane is predicted to hit the rich coffee growing areas of Colombia. You sell coffee. 3. Congress just passed a tax credit for energy effiecent home improvements. You sell solar panels.
Chapter2: Economics: Eight Powerful Ideas
Section: Chapter Questions
Problem 17P
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In each problem, you must explain the scenario’s effect on the market. If the quantity supplied or the quantity demanded changes, state how (increase or decrease). If one of the
1. You grow cotton and Eli Whetney just invented the cotton gin.
2. A hurricane is predicted to hit the rich coffee growing areas of Colombia. You sell coffee.
3. Congress just passed a tax credit for energy effiecent home improvements. You sell solar panels.
4. Soldiers comes home from WWII, get married, and need housing for their familes. You build houses.
ANSWER QUESTIONS 1-4
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