Construction contractors are the buyers of Portland cement, a key ingredient in concrete. Neither construction contractors nor their customers use much coal. Portland cement is produced in large coal-fired kilns, so Portland cement producers use a large amount of coal. What is the effect of an increase in coal prices in the market for Portland cement?
Consider a supply and demand model of the wholesale gasoline market. If a tropical storm forces some refineries to temporarily withdraw from the market, what curve shifts and in which direction?
Beef has a positive income elasticity in Chad. What would happen in the Chadian beef market if incomes grew during an economic recovery?