Please assist the possible answers are listed below the word OPTIONS. 1. Indicate the (i) impact on demand (Ii) impact on supply (Iii) impact on price (Iv) impact on quantity Thank you. Carefully explain what is happening in the following markets. Indicate the impact if any ondemand, supply, price and quantityScenario 2:Market for Box FansWHERE AREYOUR BOX FANS?I'M SORRY, WE'VESOLD OUT OF THEM.WE'RE IN THE MIDDLE OF A100-DEGREE HEAT WAVE! HOWCOULD YOU SELL OUT OF FANS?!Impact on demandChoose...Impact on supplyChoose...Impact on priceChoose...Impact on quantityChoose...Options:Change in quantity uncertainDecrease equilibrium priceIncrease equilibrium quantityDecrease equilibrium quantityIncrease towards equilibriumIncrease equilibrium priceShift outwards / to rightChange in price uncertainExcess supplyDecrease towards equilibriumExcess demandShift Inwards / to leftNo impactDist. by King Features Syndicate, In.

(i) Impact on Demand : Since , as per the question they are in the middle of a 100- degree heat…

Answered: Please assist the possible answers are…

Please assist the possible answers are listed below the word OPTIONS. 1. Indicate the (i) impact on demand (Ii) impact on supply (Iii) impact on price

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 8PA

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Question

Please assist the possible answers are listed below the word OPTIONS.

1. Indicate the

(i) impact on demand

(Ii) impact on supply

(Iii) impact on price

(Iv) impact on quantity

Thank you.

Carefully explain what is happening in the following markets. Indicate the impact if any on
demand, supply, price and quantity
Scenario 2:
Market for Box Fans
WHERE ARE
YOUR BOX FANS?
I'M SORRY, WE'VE
SOLD OUT OF THEM.
WE'RE IN THE MIDDLE OF A
100-DEGREE HEAT WAVE! HOW
COULD YOU SELL OUT OF FANS?!
Impact on demand
Choose...
Impact on supply
Choose...
Impact on price
Choose...
Impact on quantity
Choose...
Options:
Change in quantity uncertain
Decrease equilibrium price
Increase equilibrium quantity
Decrease equilibrium quantity
Increase towards equilibrium
Increase equilibrium price
Shift outwards / to right
Change in price uncertain
Excess supply
Decrease towards equilibrium
Excess demand
Shift Inwards / to left
No impact
Dist. by King Features Syndicate, In.

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