In a supply and demand diagram, draw the shift of the demand curve for hamburgers in your

Question:

In a supply and demand diagram, draw the shift of the demand curve for hamburgers in your hometown due to the following events. In each case, show the effect on equilibrium price and quantity.
a. The price of tacos increases.
b. All hamburger sellers raise the price of their french fries.
c. Income falls in town. Assume that hamburgers are a normal good for most people.
d. Income falls in town. Assume that hamburgers are an inferior good for most people.
e. Hot dog stands cut the price of hot dogs.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics

ISBN: 978-1429283434

3rd edition

Authors: Paul Krugman, Robin Wells

Question Posted: