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3) In each of the following cases, explain what effect the changes will have on the equilibrium price and quantity in the following markets: Market
3) In each of the following cases, explain what effect the changes will have on the equilibrium price and quantity in the following markets:
Market | Change |
a) computer technicians | The use of computers in business continues to expand; while at the same time, the number of graduates in computer technology program increases |
b) anti-cholesterol drugs | The cost of producing anti-cholesterol drugs increases; and at the same time, medical problems associated with high cholesterol continues to increase. |
c) full-sized SUVs | The government imposes a special excise tax on full-sized SUVs; while at the same time. Gas prices decrease dramatically. |
d) organic spinach | Medical reports indicate that spinach is an effective anti-cancer food; while at the same time a new, faster-growing variety of spinach is developed |
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