a new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf ·...
TRANSCRIPT
![Page 1: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/1.jpg)
Consider the market for eggs. What would happen if….
• A new farmer began producing eggs.
![Page 2: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/2.jpg)
Consider the market for eggs. What would happen if….
• A new farmer began producing eggs.
![Page 3: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/3.jpg)
Consider the market for eggs. What would happen if….
• The price of bacon fell.
![Page 4: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/4.jpg)
Consider the market for eggs. What would happen if….
• The price of bacon fell.
![Page 5: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/5.jpg)
Consider the market for eggs. What would happen if….
• People’s income fell, and eggs are an inferior good.
![Page 6: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/6.jpg)
Consider the market for eggs. What would happen if….
• People’s income fell, and eggs are an inferior good.
• P up
• Q up
![Page 7: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/7.jpg)
Consider the market for eggs. What would happen if….
• A new steroid allows chickens to produce more eggs than previously.
• P down
• Q up
![Page 8: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/8.jpg)
Consider the market for eggs. What would happen if….
• A new egg tax is placed on producers.
![Page 9: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/9.jpg)
Consider the market for eggs. What would happen if….
• A new egg tax is placed on producers.
• P up
• Q down
![Page 10: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/10.jpg)
Consider the market for eggs. What would happen if….
• A new study indicates that limiting egg intake lowers the risk of heart disease.
![Page 11: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/11.jpg)
Consider the market for eggs. What would happen if….
• A new study indicates that limiting egg intake lowers the risk of heart disease.
• P up
• Q up
![Page 12: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/12.jpg)
Consider the market for eggs. What would happen if….
• The price of egg substitute falls.
• P down
• Q down
![Page 13: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/13.jpg)
Consider the market for hybrid cars. What would happen if….
• The battery used in the production of hybrids decreased in price.
![Page 14: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/14.jpg)
Consider the market for hybrid cars. What would happen if….
• The battery used in the production of hybrids decreased in price.
• P down
• Q up
![Page 15: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/15.jpg)
Consider the market for hybrid cars. What would happen if….
• Workers learned new skills that made them more efficient at producing hybrids.
![Page 16: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/16.jpg)
Consider the market for hybrid cars. What would happen if….
• Workers learned new skills that made them more efficient at producing hybrids.
• P down
• Q up
![Page 17: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/17.jpg)
Consider the market for hybrid cars. What would happen if….
• People’s income rises, and hybrids are a normal good.
![Page 18: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/18.jpg)
Consider the market for hybrid cars. What would happen if….
• People’s income rises, and hybrids are a normal good.
• P up
• Q up
![Page 19: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/19.jpg)
Consider the market for hybrid cars. What would happen if….
• A new “green” advertising campaign is effective among consumers.
![Page 20: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/20.jpg)
Consider the market for hybrid cars. What would happen if….
• A new “green” advertising campaign is effective among consumers.
• P up
• Q up
![Page 21: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/21.jpg)
Consider the market for hybrid cars. What would happen if….
• Producers believe the price of hybrids will decrease in the future.
![Page 22: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/22.jpg)
Consider the market for hybrid cars. What would happen if….
• Producers believe the price of hybrids will decrease in the future.
• P down
• Q up
![Page 23: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/23.jpg)
Consider the market for hybrid cars. What would happen if….
• Hybrids are introduced for the first time in Mexico.
![Page 24: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/24.jpg)
Consider the market for hybrid cars. What would happen if….
• Hybrids are introduced for the first time in Mexico.
• P up
• Q up
![Page 25: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/25.jpg)
Consider the market for hybrid cars. What would happen if….
• Because the government wants to promote the use of hybrids, it places a subsidy on the production of them.
![Page 26: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/26.jpg)
Consider the market for hybrid cars. What would happen if….
• Because the government wants to promote the use of hybrids, it places a subsidy on the production of them.
• P down
• Q up
![Page 27: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/27.jpg)
Consider the market for hybrid cars. What would happen if….
• A safety study indicates that hybrids are less safe than traditional vehicles.
![Page 28: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/28.jpg)
Consider the market for hybrid cars. What would happen if….
• A safety study indicates that hybrids are less safe than traditional vehicles.
• P down
• Q down
![Page 29: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/29.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• Simpletown adds 200 new homes
![Page 30: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/30.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• Simpletown adds 200 new homes
• P up
• Q up
![Page 31: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/31.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• Simpletown’s major employer lays off 1000 workers.
![Page 32: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/32.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• Simpletown’s major employer lays off 1000 workers.
• P down
• Q down
![Page 33: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/33.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• The major gym in Simpletown begins a health awareness campaign and is successful at convincing people to begin exercising.
![Page 34: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/34.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• The major gym in Simpletown begins a health awareness campaign and is successful at convincing people to begin exercising.
• P up
• Q up
![Page 35: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/35.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• Home gym equipment falls in price.
![Page 36: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/36.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• Home gym equipment falls in price.
• P down
• Q down
![Page 37: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/37.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• A new gym opens in town.
![Page 38: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/38.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• A new gym opens in town.
• P down
• Q up
![Page 39: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/39.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• An increase in the wages of personal trainers.
![Page 40: A new farmer began producing eggs.ungerecon.weebly.com/uploads/2/0/8/8/2088048/shifting_game.pdf · •A new gym opens in town. •P down •Q up. Consider the market for gym memberships](https://reader034.vdocuments.site/reader034/viewer/2022052017/602f98924927e225151a5f6f/html5/thumbnails/40.jpg)
Consider the market for gym memberships in Simpletown. What
would happen to equilibrium price and quantity if…
• An increase in the wages of personal trainers.
• P up
• Q down