Shifts in supply or demand

Homework (Ch 04) The following graph plots the market for scones in Miami, where there are always over 1,000 bakeries. Suppose the Surgeon General issues a public statement saying that consuming scones is bad for your health. Show the effect of this change on the market for scones by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. (? O Supply Demand Supply PRICE (Dollars per scone) Demand QUANTITY (Scones) Now suppose Congress passes a new tax that decreases the income of Miami residents. If scones are a normal good, this will cause the demand for scones to