2 shifts to demand

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2 shifts to demand

  1. 1. Bellringer 1. Correctly draw the demand curve for this market 2. What price should you choose to maximize revenue? 3. What would happen to demand if the average wage increased? 4. What would happen to demand if soda was found to cause diabetes? 5. What would happen to demand if the price of juice tripled?Klein – graph on board
  2. 2. Soda Demand D
  3. 3. In the market for XboxOnes A. Demand for XboxOnes will increase B. Demand for XboxOnes will decrease C. Quantity demanded for XboxOnes will increase D. Demand for PS4s will increase
  4. 4. In the market for PS4s A. Demand for PS4s will increase B. Demand for PS4s will decrease C. Quantity demanded for PS4s will increase D. Quantity demanded for PS4s will decrease
  5. 5. Quantity $ Graphically speaking… Demand of movie tickets D* A RAISE!!!! A Child!!!! D after raise
  6. 6. Klein Graph increase and decrease on board
  7. 7. On a separate sheet of paper Graphically sketch the changes to the demand curve, 1 curve won’t change Identify the part of TRIBE Label your graphs 1. Unemployment rises (steak) 2. New residents move to Arizona (houses) 3. The price of buns increases (hot dogs) 4. The internet gets more expensive (itunes mp3’s) 5. Unemployment rises (Canned Ham (SPAM)) 6. You go to college (text books) 7. Average wage rises 10% (Hawaiian vacations) 8. Stock market increases in value (used clothing) 9. The price of meat increases (A1 steak sauce) 10. Eegees releases a brand new flavor (slushies) 11. Gas prices increase to $6.50/gallon (bicycles) 12. Xbox360 games get cheaper (Xbox360 games) 13. Dept of Labor reports college grads earn more $$ (college degrees) 14. You read an article that gas prices will triple next month (gas) 15. Make up your own example and show demand shift $ Q

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