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Scenario 3 Use the blank graph to the right to help determine the possible Shift In Demand if income increases and you are dealing with

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Scenario 3 Use the blank graph to the right to help determine the possible Shift In Demand if income increases and you are dealing with an inferior good. Show the direction of your movement using > arrow for positive shifts and ( arrow for negative shifts. Also draw the new demand curve. Briefly explain why this might happen. Scenario 4 Use the blank graph to the right to help determine the possible ShiftIn Demand for a high end product in Detroit if there is a major layoff at the Ford Plant. Show the direction of your movement using > arrow for positive shifts and ( arrow for negative shifts. Also draw the new demand curve. Briefly explain why this might happen. PRICE PRICE QUANTITY QUANTITY

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