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Canada (161,538)
Economics (728)
ECON 2G03 (16)
Chapter 4

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Department
Economics
Course
ECON 2G03
Professor
Hannah Holmes
Semester
Summer

Description
CHAPTER 4 PROBLEMS AND APPLICATIONS ANSWERS For questions 3 and 5 I have given the shifts and the change in P and Q. Of course in your answers, you should be drawing the diagrams for each part. Also, consider each part separately. 3. a. D increases; P and Q both increase. b. S decreases; P increases and Q decreases. c. S increases; P decreases and Q increases. d. D increases; P and Q both increase. e. D decreases: P and Q both decrease. 5. a. S decreases; P rises and Q falls. b. D decreases; P and Q both fall. c. D increases; P and Q both rise. d
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