Cereal producers increase the price of cereal.
The workers who produce cereal go on strike.
The economy goes into a recession causing incomes to decrease (Assume cereal is a normal good).
The price of milk, a complement to cereal, decreases (In the cereal market.)
The price of wheat and corn, key resources in the production of cereal, decreases.
A reputable private research institute announces that children who eat cereal improve their grades in school.
The government places a per-unit tax on cereal manufacturers.
The price of turkey bacon, a substitute-in-production, has fallen.
The price of eggs, a close substitute of cereal, increases.
An increase in population leading to an increase in cereal customers.
In order to promote American production, the government subsidizes cereal producers.
New firms begin to start making cereal.
Match the scenario to the correct graph.
Decline in the price of personal computers upon the market for software
Increase in automobile worker wages on the market for automobiles
Decline in the price of irrigation equipment upon the market for corn
Governmental subsidy on the market for AIDS research
Increase in the price of Coke upon the market for Pepsi
Decrease in income upon the market for secondhand clothing
Graph A
Graph B
Graph C
Graph D