Question
magine the market for McDonald's Big Mac hamburgers. State whether each of the following events will result in a change in demand or change in
magine the market for McDonald's Big Mac hamburgers. State whether each of the
following events will result in a change in demand or change in quantity demanded for Big
Macs (movement along the curve vs. shift). If the demand curve shifts, indicate whether it
will increase or decrease (shift left or right).
a. The price of Burger King's Whopper hamburger declines.
b. McDonald's distributes coupons for $1.00 off the purchase of a Big Mac
c. Because of a shortage of potatoes, the price of French fries increases
d. Fast-food restaurants post nutrition warning labels
e. The U.S. economy enters a period of rapid growth in incomes.
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