USO (199 unread) - norahchaikatishaE x | R CUNY Login * * Upload Assignment: Wk. 3 Asgnt x + -> C ebbhosted.cuny.edu/webapps/assignment/uploadAssignment?content_id=_68788894_1&course_id=_2155040_1&user_id=_21630992_1 M Gmail YouTube Maps Discussion Board Points Possible Faculty Information 20 Collaborate Online Learning 1. (a) Suppose a decrease in consumers' income causes an increase in the demand Orientation - 2022 for chicken and a decrease in the demand for beef; Explain which good is an inferior Tutoring good and which is a normal good. How will the equilibrium price and quantity change Help and Resources for each good? 2. In the United States, corn is often used as an ingredient in animal feed for livestock. Tools Why does an increase in the use of corn to make ethanol, an additive that is used in E-learning Orientation gasoline, raise the price of meat? Use supply and demand curves for the corn market Course Dashboard and the meat market to explain your answer. 3. What is the law of supply? Give two examples of how you have observed the law of Help supply at work. Groups 4. If the demand and supply curve for dish washers are: Communication D = 800 - 4P, S = 10 + 6P Where P is the price of dish washers, what is the quantity of dish washers bought and sold at equilibrium? (show all work) When finished, make sure to click Submit. Optionally, click Save as Draft to save changes and continue working later, or click Cancel to quit without saving changes. Cancel Save Draft Submit P. Sexton7e_Chapte.pptx Sexton7e_Chapte...pptx 72 F Sunny