经济学原理曼昆课后答案chapter4.pdf

: .
Problems andity supplied" is false, in general. As Figure 4-10 shows, the
increase in demand for notebooks results in an increased quantity supplied. The only way the
statement would be true is if the supply curve were perfectly inelastic, as shown in Figure 4-11.
Figure 4-10Figure 4-11
3. a. If people decide to have more children (a change in tastes), they'll want larger vehicles
for hauling their kids around, so the demand for minivans will increase. Supply won't
be affected. The result is a rise in both price and quantity, as Figure 4-12 shows.
Figure 4-12Figure 4-13
b. If a strike by steelworkers raises steel prices, the costs of producing a minivan rise (a rise
in input prices), so the supply of minivans decreases. Demand won't be affected.
The result is a rise in the price of minivans and a decline in the quantity, as Figure 4-13
shows.
c. The development of new automated machinery for the production of minivans is an
improvement in technology. The reduction in firms' costs results in an increase in
supply. Demand isn't affected. The result is a decline in the price of minivans and an
increase in the quantity, as Figure 4-14 shows.
Figure 4-14Figure 4-15
d. The rise in the price of station wagons affects minivan demand because station wagons
are substitutes for minivans (that is, there's a rise in the price of a related good). The
result is an increase in demand for minivans. Supply isn't affected. In equilibrium,
the price and quantity of minivans both rise, as Figure 4-12 shows.
e. The reduction in peoples' wealth caused by a