2. In a supply and demand diagram, draw the change in demand for hamburgers in your hometown...

Question:

2. In a supply and demand diagram, draw the change in demand 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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Related Book For  book-img-for-question

Krugmans Economics For Ap

ISBN: 9781429218276

2nd Edition

Authors: Margaret Ray, David A. Anderson

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