14 Determinants of Supply and Demand Consider the market for electric cars Assume electric cars are a normal good For each of the following events, identify which of the determinants of demand or supply are affected If demand is unaffected by this event because it creates only a supply change, select the None option under the Demand Determinant column Similarly, if supply is unaffected by this event because it creates only a demand change, select the None option under the Supply Determinant column Even Demand Determinant Supply Determinant Engineers develop new automated machinery for the production of electric cars People increase their concern for the environment An economic boom raises people's wealth A strike by aluminum workers raises the price of aluminum The price of gas powered cars falls Show the effect of the following event on the market for electric cars Engineers develop new automated machinery for the production of electric cars Supply Demand Supply Price of Electric Cars Quantity of Electric Cars Show the effect of the following event on the market for electric cars People increase their concern for the environment Supply Demand Supply Price of Electric Cars Quantity of Electric Cars Show the effect of the following event on the market for electric cars An economic boom raises people's wealth O Supply Demand 0 Supply Price of Electric Cars Quantity of Electric Cars Show the effect of the following event on the market for electric cars A strike by aluminum workers raises the price of aluminum Supply Demand 0 Supply Price of Electric Cars emand Quantity of Electric Cars Show the effect of the following event on the market for electric cars The price of gas powered cars falls Supply Demand Supply Price of Electric Cars eman Quantity of Electric Cars

Question

14  Determinants of Supply and Demand Consider the market for electric cars  Assume electric cars are a normal good  For each of the following events, identify which of the determinants of demand or supply are affected  If demand is unaffected by this event because it creates only a supply change, select the  None  option under the  Demand Determinant  column  Similarly, if supply is unaffected by this event because it creates only a demand change, select the  None  option under the  Supply Determinant  column Even Demand Determinant Supply Determinant Engineers develop new automated machinery for the production of electric cars  People increase their concern for the environment  An economic boom raises people's wealth  A strike by aluminum workers raises the price of aluminum  The price of gas powered cars falls  Show the effect of the following event on the market for electric cars  Engineers develop new automated machinery for the production of electric cars    Supply Demand Supply Price of Electric Cars Quantity of Electric Cars Show the effect of the following event on the market for electric cars  People increase their concern for the environment    Supply Demand Supply Price of Electric Cars Quantity of Electric Cars Show the effect of the following event on the market for electric cars  An economic boom raises people's wealth    O Supply Demand  0  Supply Price of Electric Cars Quantity of Electric Cars Show the effect of the following event on the market for electric cars  A strike by aluminum workers raises the price of aluminum    Supply Demand  0  Supply Price of Electric Cars emand Quantity of Electric Cars Show the effect of the following event on the market for electric cars  The price of gas powered cars falls    Supply Demand Supply Price of Electric Cars eman Quantity of Electric Cars

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14. Determinants of Supply and Demand Consider the market for electric cars. Assume electric cars are a normal good. For each of the following events,

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