KSU The Equilibrium Price and Quantity in The Market for Honey Questions

Answer the following five questions by stating whether the equilibrium price and quantity in the market for vacuum cleaners will either:

• increase (?);
• decease (?);
• stays constant (SC);

1. There has been a technological advancement in bee smokers (a honey bee calming device used to produce honey).
2. The price of the maple syrup, a substitute for honey, increases.
3. Consumer incomes increase and honey is considered a normal good.
4. The price of Greek-style Yogurt, a complement to honey for consumers, increases.
5. The cost of honey harvesting equipment rises.
6. What Factor.
7. D or S Shift.
8. D/S increase or Decrease.