For each of the following market situations,explain whether the supply curve or the demand curve shits,in which direction does it shift,and the equilibrium price and quantity as a result of the change.
a)The market for Ginkgo Biloba after studies shows its efficacy at memory retention with no adverse side effects.
b)The market is for automobiles after the price of steel,which is used to produce automobiles,increases by 50%.
c)The market is for daily newspapers as more news becomes available for free on the Internet.
d)The market is for accounting services after spreadsheet and accounting software is introduced for use with personal computers.

Question

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The Answer of For each of the following market situations,explain whether the supply curve or the demand curve shits,in which direction does it shift,and the equilibrium price and quantity as a result of the change.
a)The market for Ginkgo Biloba after studies shows its efficacy at memory retention with no adverse side effects.
b)The market is for automobiles after the price of steel,which is used to produce automobiles,increases by 50%.
c)The market is for daily newspapers as more news becomes available for free on the Internet.
d)The market is for accounting services after spreadsheet and accounting software is introduced for use with personal computers.

For Each of the Following Market Situations,explain Whether the Supply