For each of the three scenarios below, explain the impact on supply.
(i) In the market for automobiles, a credible forecast is released that says that prices will rise in the near future.
(ii) Publishers begin to offer low-cost paperback versions of textbooks. What happens in the market for hardcover textbooks?
(iii) On a cruise ship, the washing and cutting of lettuce by hand is replaced by an automated washer and chopper that processes the lettuce for salads. What happens to the supply of salads on the cruise ship?

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The Answer of For each of the three scenarios below, explain the impact on supply.
(i) In the market for automobiles, a credible forecast is released that says that prices will rise in the near future.
(ii) Publishers begin to offer low-cost paperback versions of textbooks. What happens in the market for hardcover textbooks?
(iii) On a cruise ship, the washing and cutting of lettuce by hand is replaced by an automated washer and chopper that processes the lettuce for salads. What happens to the supply of salads on the cruise ship?

For Each of the Three Scenarios Below, Explain the Impact