During the Obama administration, the development of low-cost…

During the Obama administration, the development of low-cost batteries for electric cars received large amounts of federal funding in terms of subsidies. Meanwhile, American households gave a higher priority towards minimizing their environmental impact. Consider the market for zero-emissions electric vehicles where there is an upward-sloping supply curve and a downward-sloping demand curve. Which direction will demand and supply shift?

Price (per bag) Quantity Demanded (bags per month) Quantit…

Price (per bag) Quantity Demanded (bags per month) Quantity Supplied (bags per month) $0.90 75 285 0.80 110 250 0.70 145 215 0.60 180 180 0.50 215 145 0.40 250 110 0.30 185 75   Use Table: The Market for Salt and Vinegar Chips. There is a surplus of 70 bags of salt and vinegar chips per month if the price is _____ per bag.  

Table: The Market for Kombucha Price ($/unit) Qd Qs 2.5…

Table: The Market for Kombucha Price ($/unit) Qd Qs 2.50 10 7 2.75 8 8 3.00 6 9 3.25 4 10 3.50 2 11 The table shows the quantity demanded (Qd) and quantity supplied (Qs) of kombucha at various prices. If the government imposes a price ceiling of $2.50 per bottle of kombucha, there will be: