Evaluate the set of events below. Determine howthe eventswill impacttheir respective markets.

a.In the market for windows. The price of glass has decreased.

The effect of the event will be a(n)

(Click to select)

increase

decrease

in

(Click to select)

demand

supply

.

As a result, the equilibrium price will

(Click to select)

decrease

increase

and the equilibrium quantity will

(Click to select)

decrease

increase

.

b. In the market for paint. There was a decrease in the number of paint producers.

The effect of the event will be a(n)

(Click to select)

increase

decrease

in

(Click to select)

supply

demand

.

As a result, the equilibrium price will

(Click to select)

increase

decrease

and the equilibrium quantity will

(Click to select)

decrease

increase

.

c. In the market for corn. Businesses are receive a higher subsidy on production of corn.

The effect of the event will bea(n)

(Click to select)

decrease

increase

in

(Click to select)

demand

supply

.

As a result, the equilibrium price will

(Click to select)

increase

decrease

and the equilibrium quantity will

(Click to select)

increase

decrease

.