1. For each of the following events, state which curve would shift: the supply curve (S) or the Demand curve (D) or Neither Curve (N). If one of the curves will shift, state whether the curve would shift to the right (an increase in supply or demand) or shift to the left (a decrease in supply or demand). # Market Event 1 Instant Noodles People's incomes decreased (Instant Noodles are 2 iPhones an inferior good) The price of iPhones increases 3 Peanut Butter The price of peanuts goes up Printer Paper The price of printers goes up 5 Nike Shoes The price of Adidas shoes goes up 6 Corn 7 Olives 8 Air Travel 6 Rubber Tires 10 Starbucks Coffee Which curve shifts as a result? Demand/Supply/Neither Does the curve shift Left or Right? Severe windstorms destroy significant amounts of the corn crop The FDA publishes a study describing the negative side-effects caused by olives People's incomes went up The price of rubber decreases The price of coffee at Dutch Bros goes down (Leave blank if neither)