Supply and Demand Curve Direction

Supply and Demand Curve Direction In your answer specify which curve is affected (supply or demand), in what direction (increase or decrease) and what is the effect on equilibrium price (increase or decrease or stay the same) and what is the effect on equilibrium quantity (increase or decrease or stay the same).

Supply and Demand Curve Direction
Supply and Demand Curve Direction

Because there are two separate scenarios, be sure to specify which scenario you are addressing in each case.
What is the likely effect on equilibrium price and quantity if orange growers experience an extended period of bad weather?  Which curve(s) is (are) affected by bad weather (supply, demand, both, or neither)?  Your answer must indicate the effect of that bad weather on the equilibrium price of oranges (did the price go up, go down, or remain unchanged?).  Your answer must also indicate the effect on equilibrium quantity (did it increase, decrease, or remain unchanged?).
What is the likely effect on the equilibrium price and quantity of corn if the government requires ethanol (a corn byproduct) to be added to all gasoline to reduce emissions?  This question is separate from and independent of the first question.  Which curve(s) is (are) affected by this new government regulation (supply, demand, both, or neither)?  Your answer must indicate the effect of that government regulation on the equilibrium price of corn (did the price go up, go down, or remain unchanged?).  Your answer must also indicate the effect on equilibrium quantity (did it increase, decrease, or remain unchanged?).

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