Answer Happy

7. Movements along versus shifts of supply curves Consider the market supply of wine. Complete the following table by indicating whether an event will cause a movement along the supply curve for wine or a shift of the supply curve for wine, holding all else constant. Movement Along Shift Event O A change in expectations about the future price of wine An increase in the number of producers O O A decrease in the price of wine O O
4. Movements along versus shifts of demand curves Consider the market demand for hot dogs. Complete the following table by indicating whether an event will cause a movement along the demand curve for hot dogs or a shift of the demand curve for hot dogs, holding all else constant. Event Movement Along Shift A change in the expectations of consumers about their future income An increase in the number of consumers A decrease in the price of hot dogs 00 O 00 O