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Changes affecting supply A. The price of inputs (resources) falls. B. The price of a substitution in production increases. C. Technological improvement occurs. D. The
Changes affecting supply A. The price of inputs (resources) falls. B. The price of a substitution in production increases. C. Technological improvement occurs. D. The number of suppliers decreases. E. Sellers expect the price to fall in the future. a) Assume that changes 1 and B occur, and the market is for an inferior product. Equi'ibriumPriestess??? .......... '.'.. Equilibrium quantity: b) Assume that changes 3 and D occur, and the market is for a normal product. Equilibrium price: Equilibrium quantity: c) Assume that changes 2 and E occur, and the market is for a normal product. Equilibrium price: Equilibrium quantity: d) Assume that changes 4 and D occur, and the market is for a normal product. Equilibrium price: Equilibrium quantity
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