The price of a complementary good increases. The price of a substitute good decreases. The price of a complementary good decreases. The number of buyers of the good increases. The number of buyers of the good decreases.
Buyers expect the price of the good to increase next month.
Buyers expect the price of the good to decrease next month. Buyers expect their real income to increase in the future. For each of the following situations, state the effects on the supply curve, and on equilibrium price and equilibrium quantity. The government issues subsidies to manufacturers. The government raises taxes on the product.