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Suppose a bill is passed that punishes the buyers of pirate compact discs (CDs). The price of pirate CDs would ______ and the quantity transacted would ______.
Suppose the Hong Kong government imposes a toll on highway users.

The above graph shows the effect of the above toll on the market of
The following diagram shows the market supply and demand curves of face masks in Hong Kong. The original equilibrium point is E.

Suppose more people decide to wear face masks to prevent the spread of respiratory diseases and there is an increase in the number of face mask producers. As a result, the new equilibrium point would be
Suppose an airline reduces the price of its air tickets. As a result,
According to research evidence, one of the substances in beer has proved to be good for the healthy development of bones. This will lead to an increase in
Which of the following diagrams shows the result of a significant reduction in the cost of storing and transporting chilled chicken from the mainland of China to Hong Kong?

Refer to the following diagram:

Which of the following would lead to the above change in demand from D1 to D2?
The diagram below shows the supply and demand schedules of the market for airline tickets in Hong Kong. The original equilibrium point is at E.

If, as a result of a terrorist attack, fewer people travel overseas and the insurance premium of airlines rises to a high level, the new equilibrium point will be at
At the outbreak of war in the Middle East, civil aircraft which used to fly through the nearby air space had to fly longer routes in order to stay away from the war areas. Moreover, the risk of travelling by civil aircraft was also higher.
Which of the following diagrams about the effects of these changes is INCORRECT?

'Compared to last year, more watermelons were sold this summer and the price was lower.' This is because there was a (an) ______ in the ______ watermelons.