Demand and/orShifts Equilibrium Price Increases Decreases, or Cannot be Determin

Question

Demand and/orShifts Equilibrium Price Increases Decreases, or Cannot be Determined Left Quantity Increases Shift Factor Ri The following shifts are occurring in the market for U.S. wooden baseball bats Cannot be Determined 1). The emerald ash borer, an exotic wood-boring beetle, has killed shifts hundreds of millions of ash trees in North America. Ash is an importans resource used to make products from baseball bats to flooring & furniture. 2). South Korea currently buys wooden baseball bats from the U.S, and the shifts exchange rate changes from 1,200 won/1 U.S S to 1,000 won/1 uss 3). Oakland A's, Khris Davis, a hupe fan favorite, uses a Marucei NC23 shifts wooden baseball bat in his attempt to hit the most home-runs in the 2018 season; during the same season, workers at the two largest U.S. wooden baseball bat factories go on strike, demanding better wages & health care The following shifts are occurring in the market for TARTA (Toledo's public bus serivce), an inferior service 4). The fares for Toledo-area taxis, a substitute service for TARTA, rise. shifts 5). A flu outbreak occurs, and, as a result, riding TARTA increases your risk of getting the flu hifts TARTA has gone "green" and now uses biofuels made from corn & soybeans this move has lowered TARTA's maintenance costs. At the same time, Congress approves a tax cut, resulting in higher disposable incomes for consumers 6. shifts Demand Left U.S. Dollar Appreciates or U.S. Trade Deficit Improves or Worsens Shifts The following shifts are occurring in the U.S dollar market 7) American cars are suddenly becoming more popular abroad shifts 8). The United States falls into a recession shifts

Explanation / Answer

1). Supply curve shifts to the left as the input for wooden baseball bats is reduced. The equilibrium price increases and quantity decreases.

2) The U.S. dollar has depreciated against the South Korean currency, Won. Previously 1200 wons were needed to buy one U.S.dollar, now only 1000 wons are needed to buy one U.S.dollar. The demand for U.S. made wooden bats increases, the equilibrium price and quantity will rise.

3) Demand increases as Khris Davis attempts to hit the most home-runs in 2018 season and supply of wooden baseball bats decrease because of the strike. An increase in demand and a decrease in supply will cause an increase in equilibrium price, but the effect on equilibrium quantity is indeterminate.

4) Demand for TARTA services will shift to the right. Equilibrium price and quantity will rise.

5) Demand shifts to the left as preferences of consumers change. Equilibrium price and quantity will fall.

6) Supply will increase, shift rightward because of lower cost of production. Demand will decrease (shift left) since TARTA services are inferior, whose demand will decrease if income increases.

A decrease in demand and an increase in supply will cause a fall in equilibrium price, but the effect on equilibrium quantity is indeterminate.

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