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https://www.mathxl.com/Student/PlayerHomework.aspx?homeown tono ST &questionid 22&flushedefalsedda-sisa szacenter -yes ECO 2113 F2F Fall 18 Alexa Williamson Homework: Chapter 3 Homework Score: 0 of 4 pts Concept: Equilibrium - Demand Shifts 2 A 22 of 25 (14 complete) HW Score: 47.3 Consider the market for college textbooks. Suppose a recent economic recession has resulted in significantly nigher tuition costs for college. Significantly higher tuition costs for college will shift A the supply curve for textbooks to the right C. the supply curve for textbooks to the left. B. the demand curve for textbooks to the right. cD. the demand curve for textbooks to the left. The new equilibrium will be where O A. the original demand curve intersects the supply curve O B. demand is greater than supply OC. the new demand curve intersects the supply curve. O D. there is a surplus.

Explanation / Answer

Ans) the correct option is the demand curve for textbooks to the left. since the tuition fees is high which implies people will lower their demand for going to college and will demand less textbooks. So demand will decrease and shift to the left.

Ans) the correct option is C. The new demand curve intersects the supply curve. The demand will shift to the left and the supply curve remains the same so the equilibrium price will decrease.

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