For each event, illustrate the impact on the relevant United States market and determine what will happen to the equilibrium price and quantity in that market. I have 2 demand and supply graphs, the first one is for 3 of them and the second is for the last one. I just need someone to tell me if

my answers are right, my answers have a star beside them.

a)Increased popularity among high protein diets.

***Demand curve shifts to the right:Increase in equilibrium price and quantity.

b)Ban on Canadian imports of beef(We are in a US market.

***Supply curve shifts to the left:Increase in Price and decrease in quantity.

c)Persistent drought increases the price of grain feed to cattle.

***Supply curve shifts to the left: Increase in Price and decrease in quantity.

d)Incomes of ranchers increase.(Use Second Graph)

***Demand curve shifts to the right:Increase in Price and quantity.

Are these answers correct??

img158.imageshack.us/img158/1218/ds1pl8.jpg
img118.imageshack.us/img118/2746/ds2yt1.jpg

Based on the information provided and the graphs you provided, your answers are mostly correct. However, I cannot access the images you mentioned, so I cannot verify the accuracy of your answers based on the graphs. Nonetheless, I can explain the reasoning behind each answer to help you understand how to determine the impact on equilibrium price and quantity in each scenario.

a) Increased popularity among high protein diets:
In this case, if the popularity of high protein diets increases, it implies that the demand for high protein food products will increase. As a result, there will be an upward shift in the demand curve, leading to an increase in both equilibrium price and quantity.

b) Ban on Canadian imports of beef:
A ban on Canadian imports of beef would cause a decrease in the supply of beef available in the market. This, in turn, causes the supply curve to shift to the left. As a result, there will be an increase in price and a decrease in quantity.

c) Persistent drought increases the price of grain feed to cattle:
When there is a drought, it becomes more difficult and expensive for cattle ranchers to provide grain feed to their cattle. This leads to a decrease in the supply of beef, as the cost of production increases. Consequently, the supply curve shifts to the left, resulting in an increase in price and a decrease in quantity.

d) Incomes of ranchers increase:
If the incomes of ranchers increase, it suggests that they have more purchasing power to demand beef. As a result, the demand for beef increases, causing the demand curve to shift to the right. This leads to an increase in both equilibrium price and quantity.

In summary, based on the given information, the impact on equilibrium price and quantity in each scenario would generally align with the answers you provided. However, please note that without being able to view the graphs, I cannot confirm the accuracy of your answers based on the graphical representations.