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Shift of Demand or Supply ( 1 2 points ) The following table shows shocks of different markets. Please identify whether the shock would shift

Shift of Demand or Supply (12 points)
The following table shows shocks of different markets. Please identify whether the shock would
shift demand curve or supply curve (assuming only one curve would shift from the shock), the
direction of shift (please use "right" or "left"), and the change of equilibrium quantity and price
(please use "increase" or "decrease")(1 point each)Shift of Demand or Supply (12 points)
The following table shows shocks of different markets. Please identify whether the shock would
shift demand curve or supply curve (assuming only one curve would shift from the shock), the
direction of shift (please use right or left), and the change of equilibrium quantity and price
(please use increase or decrease)(1 point each)
Market and Shock Shift of D or S? Direction?
(Right/left)
Change of
quantity?
(In/decrease)
Change of
price?
(In/decrease)
Coffee market; there are
several coffee shops closing.
Burgers and fries are
complements. Pickles (one
ingredient for burgers)
becomes more expensive.
Analyze what would happen
to the burger market.
What would happen to the
fries market.
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