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xBookUtils.showAnswers['krugmanapecon2e_mod07_cyu_1a'] = " This is an increase in supply, so the supply curve shifts rightward. At the original equilibrium price of the year before, the quantity of grapes supplied exceeds the quantity demanded, and the result is a surplus. The price of grapes will fall.";
xBookUtils.showAnswers['krugmanapecon2e_mod07_cyu_1b'] = " This is a decrease in demand, so the demand curve shifts leftward. At the original equilibrium price, the quantity of hotel rooms supplied exceeds the quantity demanded. The result is a surplus. The rates for hotel rooms will fall.";
xBookUtils.showAnswers['krugmanapecon2e_mod07_cyu_1c'] = " The snowfall increases the demand for snow blowers, so the demand curve shifts rightward. At the original equilibrium price, the quantity of snow blowers demanded exceeds the quantity supplied. The result is a shortage. The price of snow blowers will rise.";
xBookUtils.showAnswers['krugmanapecon2e_mod07_cyu_2a'] = "The decrease in the price of gasoline caused a rightward shift in the demand for large cars. As a result of the shift, the equilibrium price of large cars rose and the equilibrium quantity of large cars bought and sold also rose.";
xBookUtils.showAnswers['krugmanapecon2e_mod07_cyu_2b'] = "The technological innovation causes a rightward shift in the supply of fresh paper made from recycled stock. As a result of this shift, the equilibrium price of fresh paper made from recycled stock falls and the equilibrium quantity bought and sold rises.";
xBookUtils.showAnswers['krugmanapecon2e_mod07_cyu_2c'] = "The fall in the price of pay-per-view movies causes a leftward shift in the demand for movies at local movie theaters. As a result of this shift, the equilibrium price of movie tickets falls and the equilibrium number of people who go to the movies also falls.";
xBookUtils.showAnswers['krugmanapecon2e_mod07_cyu_3a'] = "Upon announcement of the new chip, the demand curve for computers using the earlier chip shifts leftward (demand decreases), and the supply curve for these computers shifts rightward (supply increases).
a. If demand decreases relatively more than supply increases, then the equilibrium quantity falls, as shown in graph a.
b. If supply increases relatively more than demand decreases, then the equilibrium quantity rises, as shown in graph b. In both cases, the equilibrium price falls.";
xBookUtils.showAnswers['krugmanapecon2e_mod07_fr_2_rubric'] = "
Rubric for FRQ 2 (5 points)
1 point: The vertical axis is labeled “Price” and the horizontal axis is labeled “Quantity.”
1 point: Upward-sloping and labeled “ Supply curve” and downward-sloping and labeled “ Demand curve.”
1 point: Equilibrium price and quantity are shown on the axes.
1 point: An upward-sloping and labeled supply curve is shown to the right of the original supply curve.
1 point: The new equilibrium price and quantity are shown on the axes.
"; var fyih3 = '