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

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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.
Supply
X
Demand
QUANTITY (Hot dogs)
PRICE (Dollars per hot dog)
Demand
Supply
(?)
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Transcribed Image Text: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. Supply X Demand QUANTITY (Hot dogs) PRICE (Dollars per hot dog) Demand Supply (?) Grade It Now Save & Continue Continue without saving
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