10. (LO 4, 5, 6) Table 2.17 shows the market for probiotic yoghurt in Canada.

a) Suppose the price of a complementary product were to increase in price causing the demand to change by 30. Show the new demand in column 4 in Table 2.17.

b) What will be the new equilibrium price and quantity?

Price: Quantity:

c) Suppose that instead the average income were to increase (and probiotic yoghurt is a normal product), causing the demand to change by 15. Show the new demand in column 5 in Table 2.17.

d) What will be the new equilibrium price and quantity?

Price: Quantity:

e) Suppose that instead the price of factors of production were to decrease causing the supply to change by 45. Show the new supply in column 6 in Table 2.17.

f) What will be the new equilibrium price and quantity assuming the original quantity demanded in column 2?

Price: Quantity: