4 Omnivox 10:04 AM Mon Jun 19 - . - o 'v? @1oo%i\

< Omnivox 10:04 AM Mon Jun 19 Micro_Assignment_2 Times New Roman Read Only - Save a copy to edit. Home Question #1 Insert Draw Layout Review View @ 100% Save a copy Consider the market for scooters (i.e.. we are interested in what happens to the market for scooters-and only scooters). FY l: bv scooters I mean the gas-powered, low-speed. motorized vehicle. State whether the following scenarios would cause an increase or decrease in the demand for scooters or DV), or an increase or decrease in the quantity demanded of scooters (i.e.* QDT or QDV). Each scenario is independent of each other. In addition, your answer cannot be both a change in demand and a change in quantity demanded (it must be one or the other). If your answer is both a change in demand and a change in quantity demanded. the grade will be ZERO. In each question, show (via a graph) exactly what will happen. Be sure to properly label the axis of your graph and properly label the demand curve. a) b) c) d) e) f) The price of a bicycle falls Average household incomes fall and scooters are considered a normal Rumour has it that the price of a scooter will fall considerably next month (and you believe this) Citing rising obesity rates, people now opt to walk instead of driving a scooter A recent census shows that the population of a town has increased due to an influx Of families teenagers over the age of 14. The price of a scooter rises