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Equilibrium: Curve Shift Practice. S1. P. S2. P1. P2. D. Q 1. Q 2. Q. 1. The price of lumber goes down. The Demand for paint goes _______. P. S. P1. D. Q 1. Q. EP goes _____ EQ goes _____. 1. The price of lumber goes down. The Demand for paint goes UP. P. S. P2.

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Equilibrium curve shift practice
Equilibrium: Curve Shift Practice

S1

P

S2

P1

P2

D

Q1

Q2

Q


1. The price of lumber goes down.

The Demand for paint goes _______

P

S

P1

D

Q1

Q

EP goes _____

EQ goes _____


1. The price of lumber goes down.

The Demand for paint goes UP

P

S

P2

P1

D2

D1

Q1

Q2

Q

EP goes UP

EQ goes UP


2. The Price of gasoline goes up.

The demand for tires goes ______

P

S

P1

D

Q1

Q

EP goes _____

EQ goes _____


2. The Price of gasoline goes up.

The demand for tires goes DOWN

P

S

P1

P2

D1

D2

Q2 Q1

Q

EP goes DOWN

EQ goes DOWN


3. Drought hits Florida.

The supply for oranges goes ______

P

S

P1

D

Q1

Q

EP goes _____

EQ goes _____


3. Drought hits Florida.

The supply for oranges goes DOWN

S2

P

S1

P2

P1

D

Q2

Q1

Q

EP goes UP

EQ goes DOWN


4. Congress approves drilling for oil in Alaska.

The supply for oil goes______

P

S

P1

D

Q1

Q

EP goes _____

EQ goes _____


4. Congress approves drilling for oil in Alaska.

The supply for oil goesUP

S1

P

S2

P1

P2

D

Q1

Q2

Q

EP goes DOWN

EQ goes UP


5. The steel workers union negotiates higherwages.

(Supply or Demand?) for automobiles goes ______

P

S

P1

D

Q1

Q

EP goes _____

EQ goes _____


5. The steel workers union negotiates higherwages.

(Supply or Demand?) for automobiles goes DOWN

S2

P

P

S1

P2

P1

D

Q2

Q1

Q

Q

EP goes UP

EQ goes DOWN


6. The population in Westfield goes up by a significant 15 % in a short time.

(Supply or Demand?) for groceries in Westfield goes ______

S

P

P1

D

Q1

Q

EP goes _____

EQ goes _____


6. The population in Westfield goes up by a significant 15 % in a short time.

(Supply or Demand?) for groceries in Westfield goes UP

S

P

P2

P1

D2

D1

Q1

Q2

Q

EP goes UP

EQ goes UP


7. The price of Crude Oil goes up.

(Supply or Demand?) for gasoline goes ______

P

S

P1

D

Q1

Q

EP goes _____

EQ goes _____


7. The price of Crude Oil goes up.

(Supply or Demand?) for gasoline goes DOWN

S2

P

P

S1

P2

P1

D

Q2

Q1

Q

EP goes UP

EQ goes DOWN


8. Congress passes a law requiring the use of Ethanol (corn-based fuel).

(Supply or Demand?) for corn goes ______

P

S

P1

D

Q1

Q

EP goes _____

EQ goes _____


8. Congress passes a law requiring the use of Ethanol (corn-based fuel).

(Supply or Demand?) for corn goes UP

P

S

P2

P1

D2

D1

Q1

Q2

Q

EP goes UP

EQ goes UP


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