QUESTION IMAGE
Question
- storms ruin citrus crops in florida. graph what will happen to the supply of oranges
- the cost of steel plummets. graph what happens to the supply of cars.
- the price of wheat is expected to fall next week. graph what happens to the supply of wheat.
- high profits increase the number of cell - phone manufacturers. graph what will happen to the supply of cell - phones.
Step1: Analyze orange - supply situation
Storms ruin crops, reducing supply. Supply curve shifts left.
Step2: Analyze car - supply situation
Steel cost drops, production cost falls, supply increases. Supply curve shifts right.
Step3: Analyze wheat - supply situation
Expected price fall next week. Producers supply more now. Supply curve shifts right.
Step4: Analyze cell - phone supply situation
More manufacturers due to high profits. Supply increases. Supply curve shifts right.
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- Supply curve of oranges shifts left.
- Supply curve of cars shifts right.
- Supply curve of wheat shifts right.
- Supply curve of cell - phones shifts right.