Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1-Name some factors that can cause a shift in the demand curve in markets for goods and services. 2-Name some factors that can cause
1-Name some factors that can cause a shift in the demand curve in markets for goods and services. 2-Name some factors that can cause a shift in the supply curve in markets for goods and services. 3-In an analysis of the market for paint, an economist discovers the facts listed below. State whether each of these changes will affect supply or demand, and in what direction. 1. There have recently been some important cost-saving inventions in the technology for making paint. 2. Paint is lasting longer, so that property owners need not repaint as often. 3. Because of severe hailstorms, many people need to repaint now. 4. The hailstorms damaged several factories that make paint, forcing them to close down for several months.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started