1. What is the effect of more firms entering the hamburger business upon the equilibrium price and quantity of hamburgers?
2. What is the effect of beef becoming more expensive upon the equilibrium price and quantity of hamburgers?
3. American baseball bats do not sell well in Japan because they do not meet the specifications of Japanese baseball officials. If the Japanese change their specifications to accomodate American-made bats, what will happen to the price of American bats?
4. . Much of the automobile rental business in the United States is done at airports. How do you think a reduction in airfares would affect automobile rental prices.
5. If both the demand and the supply of coffee increase, what would happen to coffee prices?
6. If demand for coffee fell and the supply of coffee increase, what would happen to coffee prices?