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

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2. 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.

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Essentials Of Economics

ISBN: 9781429218290

2nd Edition

Authors: Paul Krugman, Robin Wells, Kathryn Graddy

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Question Posted: Oct 03, 2024 03:03 AM

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

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