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Consider the market for bacon. The price of pork falls. {Pork is an input used to produce bacon.) a. State which curve will shift and

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Consider the market for bacon. The price of pork falls. {Pork is an input used to produce bacon.) a. State which curve will shift and in which direction. b. Whyf did the curve shift {either explain or state which determinant from our lists changed)? c. Indicate what will happen to the market price. (Will it increase or decrease?) d. Indicate what will happen to the equilibrium quantity. (Will it increase or decrease?) Consider the market for bacon. The share of the population who is vegetarian increases. a. State which curve will shift and in which direction. b. Wh'g,r did the curve shift (either explain or state which determinant from our lists changed)? c. Indicate what will happen to the market price. {Will it increase or decrease?) d. Indicate what will happen to the equilibrium quantity. (Will it increase or decrease?) Consider the market for gasoline. The government increases environmental taxes on gas. a. State which curve will shift and in which direction. b. Why,f did the curve shift (either explain or state which determinant from our lists changed)? c. Indicate what will happen to the market price. (Will it increase or decrease?) d. Indicate what will happen to the equilibrium quantity. (Will it increase or decrease?) Consider the market for gasoline. Sales of electric cars grow and sales of gasoline-fueled cars falls. a. State which curve will shift and in which direction. b. Why,f did the curve shift (either explain or state which determinant from our lists changed)? c. Indicate what will happen to the market price. (Will it increase or decrease?) d. Indicate what will happen to the equilibrium quantity. (Will it increase or decrease?)

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