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The graph shows the demand for and supply of potato chips. Draw a curve that shows the effect of a new dip that increases the
The graph shows the demand for and supply of potato chips. Draw a curve that shows the effect of a new dip that increases the quantity of potato chips that people want to buy by 30 million bags per week at each price. Label the curve 1. Draw a curve that shows the effect of a virus that destroys potato crops and decreases the quantity of potato chips produced by 40 million bags a week at each price. Label the curve 2. Draw a point at the new equilibrium price and quantity following both events. 11 105 95 85 75 65 55 45 Price (cents per bag) 130 85 95 105 115125 Quant' ty (mill' 135145155165175185195 one of bags per week)
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