A If The Price Of Natural

Satisfactory Essays
Topics: Goods
A. If the price of natural gas, a resource used by manufacturers throughout the United States, were to double, the cost of production of notebooks would most likely increase as well. This would then lead to a decrease in supply (a shift to the left).
Changes in Equilibrium of Notebooks

Price: Increase
Quantity: Decrease
Determinant: (ROTTEN) Resource: cost and availability

B. If the government were to provide a subsidy for notebook manufacturers, the cost of production would decrease, making supply increase (a shift to the right).

Changes in Equilibrium of Notebooks

Price: Decrease
Quantity: Increase
Determinant: (ROTTEN) Taxes, subsidies, and government regulation

C. If spiral notebooks become an inferior good due to an increase in income, demand will decrease (a shift to the left). This is because a good is an inferior good when a rise in income decreases the demand for the good

Changes in Equilibrium of Notebooks

Price: Decrease
Quantity: Decrease
Determinant: (TRIBE) Income

D. If the price of binders and paper decreases, people will purchase those goods in lieu of notebooks, decreasing the demand (a shift to the left) for the notebooks.

Changes in Equilibrium of Notebooks

Price: Decrease
Quantity: Decrease
Determinant: (TRIBE) Related goods and services

E. A new binding machine that binds in half the time would allow for more efficient production, increasing supply (a shift to the right).

Changes in Equilibrium of Notebooks

Price: Decrease
Quantity: Increase
Determinant: (ROTTEN) Technology

F. If the price of all goods using paper is expected to double in the next month, people will most likely rush to purchase notebooks now, causing a demand increase (a shift to the right).
Changes in Equilibrium of Notebooks

Price: Increase
Quantity: Increase
Determinant: (TRIBE) Expectations

G. If the

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