In an analysis of the market for paint, an economist discovers the facts listed below. State whether each of these changes will affect supply or demand and how it is affected.
A. There have recently been some important cost-saving inventions in the technology for making paint.
Demand shifts in.
B. Increase in quantity supplied.
Supply shifts out.
C. Paint lasting longer; that property owners need not repaint as often.
Demand shifts in.
D. Because of severe hailstorms, many people need to repaint now.
Demand shifts in.
E. The hailstorms damaged several factories that make paint, forcing them to close down for several months. The price of paint increases.
Supply shifts in. Decrease in quantity supplied.
F. The price of input costs decrease for suppliers. Quantity demanded decreases.
Supply shifts in.
G. Neither demand nor supply affected.
No shift in demand or supply.