Chuck Wagon Grills, Inc., makes a single product—a handmade specialty barbecue grill that it sells for $215. Data for last year’
1 answer:
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Answer:
Please check the attached images for the graphs
Explanation:
a.DVD players and DVDs are complements
Complement goods are goods that can be used together. If the price of one Dvd payers falls, the demand for DVDs would increase. This would lead to a rightward shift of the demand curve. Equilibrium price and quantity would increase
b. As a result of the report, the demand for chocolate candy bars increases. This would lead to a rightward shift of the demand curve. Equilibrium price and quantity would increase
c. As a result of the policies, the demand for cigarettes would fall. This would lead to a leftward shift of the demand curve. Equilibrium price and quantity would fall.
d. As a result of the automation, there would be less need for unskilled labour. As a result, the demand for unskilled labour would fall. This would lead to a leftward shift of the demand curve. Equilibrium price and quantity would fall.
e. increase in interest rate increases the demand for bonds. This would lead to a rightward shift of the demand curve. Equilibrium price and quantity would increase
f. as a result of the flooding, there would be a reduction in supply. The supply curve would shift leftward. Equilibrium price would rise and equilibrium quantity would fall
