A shift to the right in the supply curve for college education and a shift to the right in the demand curve for college education. A shift to the right in the supply curve for college education and a shift to the left in the demand curve for college education. A shift to the left in the supply curve for college education and a shift to the right in the demand curve for college education. A shift to the left in the supply curve for college education and a shift to the left in the demand curve for college education. Assume steak and potatoes are complements.
Union bargains for and wins a wage increase for workers on the assembly line.
It will shift right since both cause quantity supplied to increase. It will shift left since both cause supply to decrease. The movement is indeterminate because the new technology causes supply to increase while the higher union wage causes supply to decrease. The movement is indeterminate because the new technology causes supply to decrease while the higher union wage causes supply to increase.