Question

explain the shifts in demand.

1. the new craze for raw potatoes causes college students to toss their peppermint candy out the window in favor of the new memorization helper. what will happen to the demand for potatoes?

a. the demand curve for potatoes will shift to the left / right (highlight the correct answer)
b. the equilibrium point will move up / down (highlight the correct answer).

1. stanley cups have a lead lining and studies have shown that if they get damaged, the lead may leak out in to the beverages they hold. what will happen to the demand for yeti cups?

a. the demand curve for yetis will shift to the left / right (highlight the correct answer)
b. the equilibrium point will move up / down (highlight the correct answer)

Explanation:

For Question 3 (Potatoes):

a. A new trend making raw potatoes desirable increases consumer demand at all prices, shifting the demand curve right.
b. A rightward demand shift raises equilibrium price and quantity, moving the equilibrium point up along the supply curve.

For Question 4 (Yeti Cups):

a. Stanley cups (a substitute) are found to be unsafe, so consumers switch to Yeti cups, increasing their demand at all prices and shifting the curve right.
b. A rightward demand shift for Yeti cups raises their equilibrium price and quantity, moving the equilibrium point up along the supply curve.

Answer:

Question 3:

a. right
b. up

Question 4:

a. right
b. up