Markets: Demand & Supply Problems Dr. Dennis Foster

#1. In the market for oranges, what will happen if there is great weather in Florida and California? Supply Demand Price Quantity PePe QeQe

#2. In the market for eggs, what will happen if they are found to raise cholesterol levels and raise the risk of heart problems? Supply Demand Price Quantity PePe QeQe

#3. In the market for fine dining, what will happen if incomes across the population rise? Supply Demand Price Quantity PePe QeQe

#4. In the market for Hawaiian vacations, what will happen if tourists are killed in Miami and hotel workers (in HI) get higher wages? Supply Demand Price Quantity PePe QeQe

#5. In the market for cookbooks, what will happen if scientists find a promising cure for AIDS? Supply Demand Price Quantity PePe QeQe

#6. In the market for beef, what will happen if the price of pork rises and the government restricts the import of beef? Supply Demand Price Quantity PePe QeQe

#7. In the market for apartments, what will happen if NAU’s enrollment increases 25%? Supply Demand Price Quantity PePe QeQe

#8. In #7 (market for apartments), what will happen if NAU students successfully lobby the city council to establish a “rent ceiling” at P e ? Supply Demand Price Quantity PePe QeQe

#8. (con’t.) What is the “problem” in this market? How can tenents “pay” more in this market? Losers – Winners –

#9. In the market for new cars, what will happen if gas prices jump by 25% and auto workers go on strike? Supply Demand Price Quantity PePe QeQe

#10. In the market for PCs, what will happen if workers see that the future will require that they have computer skills and Intel invents a new, bigger, faster, cheaper computer chip? Supply Demand Price Quantity PePe QeQe

#11. In the market for peanuts, what will happen if the government establishes licensing as a mechanism for raising peanut farmer incomes? Supply Demand Price Quantity PePe QeQe

#12. In the market for the Xbox, what will happen if the price of Sony Playstations fall as does the price of games that are played on the Xbox? Supply Demand Price Quantity PePe QeQe

Markets: Demand & Supply Problems Dr. Dennis Foster