For each of the below, indicate if the curve in question would shift to the left, to
Question:
For each of the below, indicate if the curve in question would shift to the left, to the right, or not at all. Assume perfect competition, and that other than the change listed everything else remains the same (i.e. ceteris paribus).
How would the DEMAND CURVE shift if there was:
A decrease in income and the good is a normal good
An increase in the price of a substitute good
An increase in population
A decrease in the taste for the good
An increase in the price of a complementary good
How would the SUPPLY CURVE shift if there was:
An increase in the number of firms in the market
An increase in the current price of the product
A decrease in productivity
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson