File Home Insert Draw Design Layout References Mailings Review View Help Comments Editing ~ Calibri - 11 - A A Aa~ AD Find LO & Fill and Sign AaBbCc] AaBbCc] AaBbCCDc LB G Replace Paste & Send for Signature BI U - b x x A- D- A- T H2 1 Normal Dictate Editor Reuse Select Files Agreement Status Clipboard Is Font Paragraph Styles Fy Editing Voice Editor | Reuse Files Adobe Sign L 6 . Changes in the Equilibrium Price Based on the following market examples, indicate whether there will be a shift in demand or a shift in supply (note you can probably assume it will be one or the other)a change in. Then determine how that shift will affect equilibrium price and equilibrium quantity. Example Demand shifts right or Supply shifts right Equilibrium price up or Equilibrium quantity up or left? or left? down? down? Demand for colorful prom night attire boosts sales of fuchsia cummerbunds. 2. The expiration of drug patents increases the number of generic drugs available to consumers. 3. Panic reigns on Wall Street as millions of stockholders sell simultaneously. GM and Ford overestimate demand and produce too many cars in the midst of a slowdown in the economy. 5. The entry of hundreds of nail salons in southern California drags down price and profits. 6. Airline pilots negotiate a dramatic salary increase and airlines are forced to raise ticket prices. 7. Mexico opens a deep-water port in Ensenada and shippers shun the LA port. (The market is shipments through the LA port.) 8. Luxury home sales fall as the stock market sputters and wealth falls. Windows Competition in the fast-food industry increases the number of restaurants 492 words x Text Predictions: On 19 Accessibility: Good to go FOCUS Page 3 of 3 : 2:42 PM Type here to search O 99- x w Te 6 58F ~94926/2022 DELL F8 F9 F11 F12 PrtSer Insert Delete Esc F1 F2 F3 F4 F5 F6 F7 X Backs