Short Assignment 1

Short Assignment 1                                   ECON2510

Name _____________________

Please also print your name on the back of this sheet in the upper right hand corner. If you use additional sheets of paper please attach this sheet to the back of your assignment.

(10 Points each)Using separate diagrams for each of the following, with supply and demand clearly labeled, please depict the effect on the equilibrium price and quantity of the good that will be produced and sold.

 

1) The effect of mold reducing the raisin crop on the market for raisins.

 

 

 

 

 

 

 

2) The effect of a decrease in the price of DVD players on the market for VCRs.

 

 

 

 

 

3) The effect of an increase in the number of clothing manufacturers on the market for clothing.

 

 

 

 

 

4) The effect of a decrease in incomes on the market for do-it-yourself books.

 

 

 

 

 

5) The effect of an improvement in production technology on the market for watches.

 

 

 

 

 

6) The effect of a decrease in the price of spaghetti on the market for tomato sauce.

 

 

 

 

 

7) The effect of a tax on the market for cigarettes.

 

 

 

 

 

 

8) The effect of an increase in the price of cotton on the market for t-shirts.

 

 

 

 

 

9) The effect of a subsidy on the market for hybrid cars.

 

 

 

 

 

10) The effect of an increase in incomes on the market for luxury cruises.