Shifts in Supply oyo assignment pt 1

A farmer grows blueberries. He sees that the price of strawberries rises sharply. What will happen to the supply of blueberries?

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• No shift in the supply curve, it is a price change

Answer explanation

The farmer will switch to strawberries to earn more profit, reducing blueberry supply.

Sony gets new technology that will allow more PlayStation 5s to be produced each hour. How will this affect the supply of PS5s?

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• No shift in the supply curve, it is a price change

Jamba Juice sees that boba drinks are popular and going up in price. What will happen to the supply of Jamba Juice's fruit smoothies?

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• No shift in the supply curve, it is a price change

New AI-driven cooking machines, such as Flippy, take over kitchen positions in fast food restaurants. What will happen to the supply of hamburgers?

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• No shift in the supply curve, it is a price change

The government places strict regulations on fracking (a way of drilling for oil) to prevent oil spills and other problems that can harm the environment. How will this affect the supply of oil?

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• No shift in the supply curve, it is a price change

Mattel (a toy maker) expects the new Barbie to be the “IT” toy at Christmas. How will this affect the supply of Barbie Dolls?

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• No shift in the supply curve, it is a price change

A large forest fire destroys thousands of acres of woodlands that were supposed to be harvested. How will this affect the supply of houses made of wood?

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• No shift in the supply curve, it is a price change

Hotels provide both overnight rooms and conference/event space. The price of hotel rooms increases during peak tourist season. What will happen to the supply of conference space bookings?

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• No shift in the supply curve, it is a price change

Answer explanation

Hotels expand operations (more staffing, opening more rooms/areas), increasing availability of conference services as well.

A government subsidy encourages farmers to grow corn instead of soybeans.
What happens to the supply of soybeans after this policy change?

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• No shift in the supply curve, it is a price change

A terrible blizzard destroys the herds of most ranchers in the western U.S. How will this affect the supply of beef in the US?

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• No shift in the supply curve, it is a price change