Homework – Changes to Equilibrium Take your homework from the previous lesson, and now indicate what would happen to Equilibrium. On the previous homework, you should have indicated an “increase,...

Two parts to the homework supply and demand is first then changes to the equil


Homework – Changes to Equilibrium Take your homework from the previous lesson, and now indicate what would happen to Equilibrium. On the previous homework, you should have indicated an “increase, decrease or neither” for Supply and Demand. Now, I want you to note what would happen to Equilibrium Price (P*) and Equilibrium Quantity (Q*). Make sure to highlight “why” you state this. (If you need the full Market Change, refer to your previous homework.) Therefore, for this assignment, indicate if both P* and Q* increase, decrease or neither. (Unlike the previous assignment, both can change in this one.) #1 Market Change P* Q*   #2 Market Change P* Q* Almond milk/Soy Milk       Toilet Paper     Why?   Why?               #3 Market Change P* Q*   #4 Market Change P* Q* Masonry       Base Realignment and Gasoline Markets     Why?   Why?               #5 Market Change P* Q*   #6 Market Change P* Q* Minimum Wage       Pools     Why?   Why?               #7 Market Change P* Q*   #8 Market Change P* Q* Tariffs and Steel       Coffee and Muffins     Why?   Why?               #9 Market Change P* Q*   #10 Market Change P* Q* Nintendo Switch       Teleconferencing and Health Insurance     Why?   Why?               #11 Market Change P* Q*   #12 Market Change P* Q* Car Insurance       Car Washes     Why?   Why? Name: For each “Market Change” there is a Demand column and a Supply Column. In each of those two columns, you should write one of these three things: Increase, Decrease, or Neither. (Every market change will have at least one “Neither”.) #1 Market Change Demand Supply   #2 Market Change Demand Supply What is likely to happen to Almond Milk if the Price of Soy Milk rises.       At the beginning of March, toilet paper became difficult to find in stores.     Why?   Why? #3 Market Change Demand Supply   #4 Market Change Demand Supply Some TCSG Schools have masonry (bricklaying) programs. How would this affect housing markets in the area if such a program were to come to CTC?       During base realignment, the number of soldiers at military installations is changed. If there were an increase in soldiers at Fort Benning, how would this affect gas markets?     Why?   Why? #5 Market Change Demand Supply   #6 Market Change Demand Supply Minimum wage rises.       Recently, the price of pools rose in stores.     Why?   Why? #7 Market Change Demand Supply   #8 Market Change Demand Supply Over the past few years, there have been increased tariffs on goods made overseas. How have these affected steel markets? (HINT: A tariff is sometimes called another name.)       You start a coffee shop in the Student Center at CTC. You notice that you sell about the same amount of coffee and muffins. Based on this, you decide to increase the price of muffins. How would this affect coffee?     Why?   Why? #9 Market Change Demand Supply   #10 Market Change Demand Supply In May, not long after many received a fiscal stimulus check, the Nintendo Switch was difficult to find in stores.       Teleconferencing options have increased over the past few years. How has this affected the market for Health Insurance?     Why?   Why? #11 Market Change Demand Supply   #12 Market Change Demand Supply Car insurances prices have decreased.       Due to COVID-19, many car washes closed.     Why?   Why?