Unit 3 Graphing Practice

 Supply/Demand Graphing Practice

Problem #	Scenario (What happens if…)	Graph	Supply ß or à	Demand ß or à	Equilibrium Price ↑ or ↓	Equilibrium Quantity ↑ or ↓
1	Medical researchers discover that eating Lucky Charms makes people cool?
2	It’s no longer considered fashionable to wear leg warmers?
3	The government subsidizes the growers of watermelons?
4	Government places an excise tax on underarm deodorant?
5	Government reduces the driving age to 14. How would this affect the market for gasoline?
6	Education is no longer compulsory. How would this affect the market for teachers? (labor market)
7	McDonald’s starts using highly efficient robots to make Big Macs?
8	The Americans and British bomb German Tank factories during WWII?(tank market)
9	Americans experienced an increase in income. How would this affect the market for USDA Prime Porterhouse Steaks?
10	Americans experience an increase in income. How would this affect the market for powdered milk?