Titanium is an alternative for the supply of Platinum. In the market of Platinum, consider the effect of an increase in electricity prices if electricity is a major input in the production of Titianium. Using the list of options of possible impacts, select what is happening in the following markets. Select the impact if any on: i.Supply ii.Price iii.Quanity iv.Demand

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Titanium is an alternative for the supply of Platinum.
In the market of Platinum, consider the effect of an increase in electricity prices if electricity is a major input in the production of Titianium.

Using the list of options of possible impacts, select what is happening in the following markets. Select the impact if any on:

i.Supply
ii.Price
iii.Quanity
iv.Demand

Excess demand
Decrease equilibrium quantity
Shift outwards / to right
Decrease equilibrium price
Shift outwards / to right
No impact
Increase equilibrium quantity
Change in price uncertain
Change in quantity uncertain
Shift inwards / to left
Increase equilibrium price
Excess supply
Increase towards equilibrium
Decrease towards equilibrium
Transcribed Image Text:Excess demand Decrease equilibrium quantity Shift outwards / to right Decrease equilibrium price Shift outwards / to right No impact Increase equilibrium quantity Change in price uncertain Change in quantity uncertain Shift inwards / to left Increase equilibrium price Excess supply Increase towards equilibrium Decrease towards equilibrium
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