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1. EVENT A: Some South Lebanon women received an increase in their salary. (Hint: customized hand bag is a normal good). (D) shifts to the right and (S) stays the same. The equilibrium price increases and the equilibrium quantity increases () shifts to the left and (S) stays the same. The equilibrium price increases and the equilibrium quantity decreases (D) shifts to the right and (S) stays the same. The equilibrium price decreases and the equilibrium quantity decreases None of the above 2. EVENT B: The price of the fabrics used to produce hand bags decreased. (S) shifts to the right and (D) stays the same. The equilibrium price decreases and the equilibrium quantity increases (S) shifts to the left and (D) stays the same. The equilibrium price decreases and the equilibrium quantity decreases. (D) shifts to the right and (s) stays the same. The equilibrium price increases and the equilibrium quantity increases () shifts to the left and (S) stays the same. The equilibrium price increases and the equilibrium quantity increases. 3. EVENT C: Due to profits in the women bags industry in Lebanon, new sellers entered the market. (S) shifts to the right and (D) stays the same. The equilibrium price decreases and the equilibrium quantity increases (D) shifts to the left and (S) stays the same. The equilibrium price increases and the equilibrium quantity decreases. (D) shifts to the right and (S) stays the same. The equilibrium price decreases and the equilibrium quantity decreases. (S) shifts to the right and (D) stays the same. The equilibrium price increases and the equilibrium quantity increases 4. EVENT D: The price of women bags increases. (D) shifts to the right and (s) stays the same. The equilibrium price increases and the equilibrium quantity decreases. (D) stays the same and (S) shifts to the left. The equilibrium price increases and the equilibrium quantity decreases (D) stays the same (S) stays the same. The market is in shortage. (D) stays the same (S) stays the same. The market is in surplus. 5. EVENT E: The government imposed a tax on the production of women hand bags.* (D) stays the same and (S) shifts to the left. The equilibrium price increases and the equilibrium quantity decreases. (D) shifts to the right and (S) stays the same. The equilibrium price increases and the equilibrium quantity increases. (D) stays the same (S) stays the same. The market is in surplus. (D) stays the same (S) stays the same. The market is in shortage

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