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Consider the market for artisanal bread in a small town. The bakers use three primary inputs for their production - flour, labor, and electricity. 1.
Consider the market for artisanal bread in a small town. The bakers use three primary inputs for their production - flour, labor, and electricity. 1. Draw an initial supply curve for the artisanal bread. Ensure you label your axes and curve accurately. 2. Suppose that due to a poor harvest season, the price of flour rises significantly. Describe how this change would affect the supply of artisanal bread. 3. On the same graph, draw a new supply curve to represent the shift due to the increased price of flour. Clearly label this new curve
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