6. Shifts in supply or demand I The following graph shows the market for hot dogs in Philadelphia, where there are over a thousand hot dog stands at any given moment. Suppose the Surgeon General issues a public statement saying that consuming hot dogs is bad for your health. Show the effect of this change on the market for hot dogs by shifting one or both of the curves on the following graph, holding all else constant. ? PRICE (Dollars per hot dog) QUANTITY (Hot dogs) Supply Demand Demand Supply

6. Shifts in supply or demand I The following graph shows the market for hot dogs in Philadelphia, where there are over a thousand hot dog stands at any given moment. Suppose the Surgeon General issues a public statement saying that consuming hot dogs is bad for your health. Show the effect of this change on the market for hot dogs by shifting one or both of the curves on the following graph, holding all else constant. ? PRICE (Dollars per hot dog) QUANTITY (Hot dogs) Supply Demand Demand Supply

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Ch 23 Economics
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