How will each of the following events shift the demand and /or the supply curve for bread? Also indicate the effect of each event on equilbruim price and equilibrium quantity. That is do equilibrium price and equilibrium quantity rise, fall or remain Unchanged? Or is the answer indeterminate because it depends on the magnitude of the shift.

i the price of flour decreases

ii consumer income increases, and bread is a normal good

iii the price of lettuce wraps(a substitute of bread) increase, and sellers expect the price of bread to fall next month

iv the number of buyers decrease and consumers expect the price of bread to be higher next month

C. The demand and supply of leather boots in Canada are given by the following equation s

QS=25+20P and QD=1225-10P. What is the market equilibrium price and quantity?