Complete question 1 In chapter 4 of Mankiw text a. The price of oranges would rise because there is a limited supply of them, shifting the supply curve to the left. S2 S1 Price of Oranges D Quantity of Oranges b. The demand for hotel rooms in the Caribbean would shift to the left because now it is warmer in England and there is no need for them to travel to the Caribbean for warmth. S Price of otel rooms D2 D1 Quantity of hotel rooms c. When a war breaks out in the Middle East of course the demand for gasoline is much higher because there is a limited supply and we have cars that mainly run on gasoline. The reason the price of used Cadillac's fall is because they take a lot of gas (4.5 gallons for 100 miles) that almost 17 dollars for not even 1/4 tank of gas