Question
1) a. What happens to the demand for chocolate? b. Does the demand curve shift to the right or to the left? c. Does the
1) a. What happens to the demand for chocolate?
b. Does the demand curve shift to the right or to the left?
c. Does the equilibrium price increase or decrease?
d. Does the equilibrium quantity increase or decrease?
2) a. What happens to the supply of chocolate?
b. Does the supply curve shift to the right or to the left?
c. Does the equilibrium price increase or decrease?
d. Does the equilibrium quantity increase or decrease?
3) Using your answers from numbers 1 and 2 to explain why does the equilibrium price of chocolate decrease?
SOURCE: https://www.youtube.com/watch?v=HAEDpsbGJnU
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Financial Accounting and Reporting a Global Perspective
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
4th edition
978-1408076866
