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Scenario 2: Suppose the National Institutes of Health publishes a study that limited social contact is necessary to reduce the spread of a virus. How
Scenario 2: Suppose the National Institutes of Health publishes a study that limited social contact is necessary to reduce the spread of a virus. How do you imagine this will affect the market for fast food? Why? Which determinant of demand or supply is being affected? Show graphically with before- and after-curves on the same axes. How will this change the equilibrium price and quantity of fast food? Explain your reasoning and show graphically. Make sure you think this through carefully!
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