During valentines week, more people buy chocolates and chocolates offer

| November 24, 2016

5. During valentines week, more people buy chocolates and chocolates offer their chocolates in special red boxes, which cost more to produce than the everyday box. Set out a 3 step process of analysis and show on a graph the adjustments process to a new equilibrium. Describe the changes in the equilibrium price and the equilibrium quantity.

6. After severe bout forclosures and defaults on home loans , bank made it harder for people to borrow. How does this change influence and illustrate with a graphical analysis:

The demand for new homes?

The supply of new homes?

The price of new homes?

7. “As more people but cell phones, the demand for cell phone service increases and the price of cell service falls, which decreases the supply of cell service” Is this statement True or False?

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