Business, 09.03.2021 18:30 pattydixon6

For the following questions answer whether supply will increase (shifting of curve to right) or decrease (shifting of curve to left) or not at all. In addition, give your reason for your answer by referencing one of the supply shifters (technology, number of producers/suppliers), natural conditions, cost of resources/inputs, expectations of future price, Government policy), if applicable. EXAMPLE: Headline- "Nintendo decides to get out of the video game market and stop producing video games". How would this affect the supply of Video Games?
ANSWER: Supply of video games would go down (Supply Curve Shifts Left) because of the NUMBER OF PRODUCERS. In this case there will less companies making video games, which means less supply

4. Headline- “New machines increase the speed of making computer chips, making them cheaper.” How will this headline affect the supply curve for computers? Why?

5. Headline- “Huge oil spill in the Gulf” How will this headline affect the supply curve for shrimp? Why?

6. Headline- “Government votes to pass new cigarette tax.” How will this headline affect the supply curve for cigarettes? Why?

7. Headline- “Gresham sees a decrease in drive through coffee shops.” How will this headline affect the supply curve for coffee? Why?

8. Headline- “Prices of oil at an all time high, expected to lower next year.” How will this headline affect the supply curve for gasoline? Why?

9. Headline- “Government approves subsidy to pay farmers to help produce produce corn.” How will this headline affect the supply curve for corn? Why?

10. Headline- “New machines increase the speed of making computers.” How will this headline affect the supply curve for computers? Why?

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