Use supply and demand curves to illustrate how each of the following changes will affect the price and quantity of the stated product, ceterus paribus.

Before you guess, answer the following questions:
(1) Which determinant has changed?
(2) Will it affect supply or demand?
(3) Will supply or demand increase or decrease?
(4) GRAPH IT! What happens to price and quantity?

1. Computers Consumer incomes increase

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?

2. Calculators Improved technology reduces the costs of production

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?

3. Sony Play Station Computer prices drop

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity? (or maybe)

5. Cigarettes Reduced gov't farm subsidies increase the costs of production

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?

6. Coffee a report links coffee drinking to heart attacks

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?

7. Wood furniture Lumber prices rise

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?

8. Steel Furniture Wood furniture prices increase

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?

9. Computers 5 new firms enter the industry

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?

10. Cigarettes Gov't announces a large tax increase will begin in 1 week

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?

11. Gasoline Gasoline taxes increase

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?

12. Soybeans The price of corn rises

(1) Which determinant has changed? (2) Will it affect supply or demand? (3) Will supply or demand increase or decrease? (4) GRAPH IT! What happens to price and quantity?