Consider each scenario described below for the supply of t-shirts: • If there was an increase in price of shirts the change in quantity supplied would be modelled as a 1. A. rightward shift of the supply curve ochange in qua Leupplied would B. leftward shift of the supply curve C. movement along the supply curve
Consider each scenario described below for the supply of t-shirts: • If there was an increase in price of shirts the change in quantity supplied would be modelled as a 1. A. rightward shift of the supply curve ochange in qua Leupplied would B. leftward shift of the supply curve C. movement along the supply curve
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
Problem 10P
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Question
6.
Transcribed Image Text:Complete each statement below about the demand and supply of t-shirts using the dropdown list. In
each case, assume everything else remains the same and t-shirts are a normal good. You may use the
same answer more than once.
Consider each scenario described below for the supply of t-shirts:
If there was an increase in price of shirts the change in quantity supplied would be modelled as a
1.
A. rightward shift of the supply curve
B. leftward shift of the supply curve
in qu
eupplied wOuld
C. movement along the supply curve
• If there was a cost saving improvement to shirt production the change in quantity supplied would
be modelled as av
2.
A. rightward shift of the supply curye
B. leftward shift of the supply curve
C. movement along the supply curve
ider snnh coen
Consider each scenario listed below for the demand of t-shirts:
If there was a decrease in the price of a substitute the change in quantity demanded would be
modelled as
3.
A, movement along the demand curve
oB . leftward shift of the demand curve
men tiin cnange in
C rightward shift of the demand curve
• If popular movie stars start wearing t-shirts so that t-shirts become more popular, then the change in
quantity demanded would be modelled as av
movement along the demand curve
B leftward shift of the demand curve
C rightward shift of the demand curve
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