The market for many goods changes in predictable ways according to the time of year, in response to events such as holidays, vacation times, seasonal changes in production, and so on. Specify the shift in supply and/or demand curves in the graph to account for the change in price in the following case. The price of a round-trip ticket to Paris on Air France falls by more than $200 after the end of school vacation in September. This happens despite the fact that generally worsening weather increases the cost of operating flights to Paris, and Air France, therefore, reduces the number of flights to Paris at any given price. O demand shifts to the left, supply shifts to the left, shift in supply is bigger. demand shifts to the left, supply shifts to the left, shift in demand is bigger. O demand shifts to the right, supply shifts to the right, shift in demand is bigger. demand shifts to the right, supply shifts to the right, shift in supply is bigger.
The market for many goods changes in predictable ways according to the time of year, in response to events such as holidays, vacation times, seasonal changes in production, and so on. Specify the shift in supply and/or demand curves in the graph to account for the change in price in the following case. The price of a round-trip ticket to Paris on Air France falls by more than $200 after the end of school vacation in September. This happens despite the fact that generally worsening weather increases the cost of operating flights to Paris, and Air France, therefore, reduces the number of flights to Paris at any given price. O demand shifts to the left, supply shifts to the left, shift in supply is bigger. demand shifts to the left, supply shifts to the left, shift in demand is bigger. O demand shifts to the right, supply shifts to the right, shift in demand is bigger. demand shifts to the right, supply shifts to the right, shift in supply is bigger.
Chapter4: Supply And Demand: An Initial Look
Section: Chapter Questions
Problem 2TY
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Transcribed Image Text:The market for many goods changes in predictable ways according to the time of year, in response to events
such as holidays, vacation times, seasonal changes in production, and so on. Specify the shift in supply and/or
demand curves in the graph to account for the change in price in the following case.
The price of a round-trip ticket to Paris on Air France falls by more than $200 after the end of school vacation
in September. This happens despite the fact that generally worsening weather increases the cost of operating
flights to Paris, and Air France, therefore, reduces the number of flights to Paris at any given price.
demand shifts to the left, supply shifts to the left, shift in supply is bigger.
demand shifts to the left, supply shifts to the left, shift in demand is bigger.
demand shifts to the right, supply shifts to the right, shift in demand is bigger.
demand shifts to the right, supply shifts to the right, shift in supply is bigger,
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