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Chart A If everything else remains constant, when tastes change in favor of a good or when consumer income rises, the demand for that good
Chart A If everything else remains constant, when tastes change in favor of a good or when consumer income rises, the demand for that good increases [shifting the demand curve to the right). As a consequence, the price of the good rises; thus, the bidders want to sell a greater amount of the good offered and the plaintiffs want to buy a greater amount of the good demanded. Chart B If everything else remains constant, when tastes change against a good or when consumer income decreases, the demand for that good decreases {shiing the demand curve to the left). As a consequence, the price of the good falls; thus, the bidders want to sell a smaller amount of the good offered and the plaintiffs want to buy a smaller amount of the good demanded. Chart C If everything else remains constant, when technology progresses or the price paid by bidders for inputs decreases, the supply of that good increases (shifting the right- hando curve). This causes the Erioe to decrease, bidders are willing to sell a larger guanti offered, and plaintiffs are eager to buy a larger Quantity demanded. Chart D If everything else remains constant, when the technology fails or the price paid by the bidders for the inputs increases, the supply of that good decreases (shifting the offer curve to the left). This causes the price to rise, bidders are willing to sell a smaller quantity offered, and plaintiffs are willing to buy a smaller quantity demanded. P S... Ap* D
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