Micro-Fall2018-HW3 - Graded H.W 3 PDF

Title	Micro-Fall2018-HW3 - Graded H.W 3
Author	Omer Ahmed
Course	Prin Of Microeconomics
Institution	Rochester Institute of Technology
Pages	1
File Size	44.4 KB
File Type	PDF
Total Downloads	39
Total Views	143

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Graded H.W 3...

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RIT MICROECONOMICS HOMEWORK 3 – DUE MONDAY, OCT 1, 2018 Econ101 Dr Sanjay Modak Sep 27, 2018 Name_____________________________________________ In the table below, show what happens to equilibrium price and quantity using arrows up or down, when the shifts in demand and/or supply happen as shown in the left two columns. Results of Shifts in Supply and Demand Demand + -

+ + -

Supply

Equilibrium Price

Equilibrium Quantity

+ + +

In the above table, “+” represents an increase, “-“ represents a decrease, a blank represents no change. Use up arrows and down arrows or ? to show what happens in each case. Do not refer to the table in the slides. Use diagrams on rough paper instead or you will not learn....