1. For each of the following examples, explain how the indicated change affects supply or demand for...
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1. For each of the following examples, explain how the indicated change affects supply or demand for the good in question and how the shift you describe affects equilibrium price and quantity.
a. As the price of gasoline fell in the United States during the 1990s, more people bought large cars.
b. As technological innovation has lowered the cost of recycling used paper, fresh paper made from recycled stock is used more frequently.
c. When a local cable company offers cheaper pay-perview films, local movie theaters have more unfilled seats.
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