Demand Shifts and Elasticity

What caused this to happen?

• Decrease in income
• Increase in Income
• Increase in price of substitute
• Decrease in price of complement

What caused this to happen?

• Increase in consumer interest
• Increase in Income
• Increase in price of complement
• Decrease in price of complement

What caused this to happen?

• Decrease in income
• Increase in Income
• Increase in price of substitute
• Decrease in price of complement

What caused this to happen?

• Increase in consumer interest
• Increase in Income
• Increase in price of complement
• Decrease in price of complement

What caused this to happen?

• Price expected to rise next month
• Price expected to fall next month
• Increase in number of buyers
• Increase in income of buyers

What caused this to happen to the demand for gummy bears?

• Price of gummy worms increases
• New T.V. ad illustrates 50% of cavities are bear related
• Minimum wage is increased 7%
• Gummy bears become the official candy of netflix

What caused this to happen to the demand for McDonalds french fries?

• Price of hamburgers decreases
• McDonalds announces fries will be $.50 more expensive starting next week
• Wendys has a sale, buy one burger get two fries free for the whole month
• A new tax cut increases household income by 14%

What caused this to happen?

• Income increased
• Income decreased
• Price of substitute decreased
• Price of complement increased

What caused this to happen?

• Population decreased
• Income decreased
• Price of complement decreased
• Price of substitute decreased

What caused this to happen?

• Population decreased
• Item becomes trendy
• People expect the item to be cheaper later
• Price of product decreased