Part 2: Evaluate how the following events will impact the market for Snickers candy
problem:
A) Shift (, pt) and label (½, pt) the appropriate curve.
B) List the reason for the change in supply or demand. (1 pt)
C) Draw arrows (1 or i) to show what happens to price (½, pt) and quantity (%, pt) after the shift.
Event:
46
The price of peanuts
increases.
Snickers Candy Bars
Reason: Supply increase
Effect on market: P
47
48.
49.
Event:
The price of milk, a
complementary good
for Snickers, increases.
Event:
The government
decides to subsidize
the production of
Snickers.
Event:
The price of Milky Way
candy bars, a
substitute for Snickers,
increases.
50.
Event:
Deep fried Snickers on
a stick become the
latest fad at the
Minnesota State Fair.
Snickers Candy Bars
Reason:
Effect on market: P
Snickers Candy Bars
S
Reason:
Effect on market: P
吵吵
Snickers Candy Bars
S
Reason:
Effect on market: P
Snickers Candy Bars
S
Reason:
Effect on market: P.