Part I Price 1 2 Q of World Demand for U.S.-Grown Pecans . 3 4 5 6 Instructions: The following are fictitious headlines about the pecan market. In each case, decide if the information will cause a change in the current mar- ket demand for U.S. pecans sold worldwide. If so, decide if it is an increase or a decrease, and write the correct answer. For example, if you think Headline 1 means there will be a decrease in demand, write "decrease" in the first blank. If the event causes no change in demand, write "no change." Assume that the demand at the beginning of the activity is at Curve 3. For each headline, write the number of the demand curve after the headline's impact. 1. Lunar New Year approaches, when Chinese households love to eat pecans. Demand Demand 3. Price of walnuts decreases. Demand Curve Curve 2. The price of corn syrup, which consumers use with pecans to make pecan pies, has risen. Curve Put each change in demand from Part I into one of the following categories, based on the reason for the change. Write the number of the headline(s) next to the reason for the change in demand. Some categories may have more than one headline number, and an event that did not change demand should not be listed with any of the determinants. A change in consumer tastes A change in consumer incomes A change in the number of consumers in the market A change in the price of a substitute good A change in the price of a complementary good A change in consumers' price expectations