For each of the three scenarios below, explain which way the supply curve shifts and why.
(i) In the market for automobiles, a credible forecast is released that says that prices will fall in the near future.
(ii) You are studying the market for timber. Wildfires destroy 20% of the timber forests.
(iii) You are studying the market for farmed salmon. Fisheries are now able to increase their yields by using more efficient hatcheries.

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The Answer of For each of the three scenarios below, explain which way the supply curve shifts and why.
(i) In the market for automobiles, a credible forecast is released that says that prices will fall in the near future.
(ii) You are studying the market for timber. Wildfires destroy 20% of the timber forests.
(iii) You are studying the market for farmed salmon. Fisheries are now able to increase their yields by using more efficient hatcheries.

For Each of the Three Scenarios Below, Explain Which Way