These packets are filled with concentrated, toxic chemicals. A 7-month-old in Florida died from swallowing the soap. Several soap and detergent companies are conducting studies to address these safety concerns; they want to reduce toxicity and to make the packets look less like candy. The U. S. Consumer Product Safety Commission (CPSC) is also performing studies to build more safety into these products. Why would the CPSC perform studies when other soap and detergent companies have already conducted research on the same products?

Consider the market for gas-powered small cars. assume gas-powered small cars are a normal good. for each of the following events, identify which of the determinants of demand or supply are affected. if demand is unaffected by this event because it creates only a supply change, select the “none” option under the “demand determinant” column. similarly, if supply is unaffected by this event because it creates only a demand change, select the “none” option under the “supply determinant” column. event demand determinant supply determinant people decide to have more children. the price of electric small cars falls. the discovery of a new source of iron ore lowers steel prices. an economic recession lowers people’s wealth. a number of major car dealers decide to switch from selling gas-powered cars to selling electric cars. show the effect of the following event on the market for gas-powered small cars: people decide to have more children for each of the four independent situations, prepare the journal entries to record the exchange on the books of each company.