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For each of the following explain the possible effects ondemand and/or supply and equilibrium price and quantity of spiralbound notebooks

For each of the following, explain the possible effects ondemand and/or supply and equilibrium price and quantity of spiralbound notebooks using a correctly labeled supply and demandgraph. Assume the market for spiral bound notebooks is in equilibrium.All students in public schools need notebooks of some type whenthey attend classes. For each of the following, explain thepossible effects on demand and/or supply and equilibrium price andquantity of spiral bound notebooks using a correctly labeled supplyand demand graph with equilibrium price and quantity labeled. Underyour hand-drawn graph, list the determinant of supply and/or demandthat causes each shift as well as the change in price and quantity.You should have 8 graphs. The written answer should be set up underthe graph as follows: Price: Increase/Decrease (select one)
Quantity: Increase/Decrease (select one)
Determinant: One of the determinants for demand (TRIBE) or supply(ROTTEN) that causes the shift. a) The price of natural gas, a resource used by manufacturersthroughout the United States, doubles.
b) The government provides a subsidy for notebookmanufacturers.
c) Your income increases and spiral bound notebooks are an inferiorgood.
d) The price of binders and paper, a substitute for spiral boundnotebooks, decreases.
e) A new binding machine is invented that binds in half thetime.
f) The price of all goods using paper is expected to double nextmonth.
g) The government raises taxes on businesses at the same time thatstudents receive their supply list for the new school year.
h) The price of pens and pencils falls dramatically. . . .

Apr 29 2020 View more View Less

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