(Okay, I saw an article about Piggly Wiggly and had to put it in the problem set, this question is even more appropriate as I've just been in the US south!)

The first Piggly Wiggly supermarket opened 100 years ago in Memphis, TN. Believe it or not, they were the first supermarket to offer self-service, rather than have an employee collect the goods you requested and bring them to you from behind a counter. By 1932, there were 2,660 Piggly Wiggly stores and plenty of profits. Today there are only 600 stores remaining and very low profits. (graphs please, revenue and cost, supply and demand, etc)

a). Explain and graph what likely happened to the market for Piggly Wiggly in 1915-1932. Be sure to explain why it likely happened.

b). Take your best guess at what has likely happened since then.