Help please! In each case, determine whether a change in supply, quantity supplied, demand, or quantity demanded will occur.
1. Production costs fall and producers sell more cars. (my guess Supply)
2. Consumer incomes rise and more jewelry is purchased. (my guess Demand)
3. A barber raises the price of haircuts and finds that his volume of business declines. (my guess quantity demanded)
4. Fewer oranges are offered for sale because their price has decreased in retail markets. (my guess supply) 5. In the automobile market, the price of Fords goes up and sales of Chevrolets increase. demand?

Question

Help please! In each case, determine whether a change in supply, quantity supplied, demand, or quantity demanded will occur.
1. Production costs fall and producers sell more cars. (my guess Supply)
2. Consumer incomes rise and more jewelry is purchased. (my guess Demand)
3. A barber raises the price of haircuts and finds that his volume of business declines. (my guess quantity demanded)
4. Fewer oranges are offered for sale because their price has decreased in retail markets. (my guess supply) 5. In the automobile market, the price of Fords goes up and sales of Chevrolets increase. demand?