8. Shifts in supply or demand IThe following graph shows the market for hot dogs in San Diego, where there are over 1,000 hot dog stands at any given moment. Suppose theSurgeon 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.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 backto its original position, just drag it a little farther.SupplyDemandSupplyDemandQUANTITY (Hot dogs)Now suppose Congress passes a tax cut that increases the income of San Diego residents.If hot dogs are a normal good, this will cause the demand for hot dogs toPRICE (Dollars per hot dog) 9. Shifts in supply or demand IIThe following graph shows the market for cakes in Miami, where there are over 1,000 bakeries at any given moment. Suppose the price of flour, amajor ingredient in cakes, suddenly decreases.Show the effect of this change on the market for cakes 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 backto its original position, just drag it a little farther.SupplyDemandSupplyDemandQUANTITY (Cakes)PRICE (Dollars per cake)

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Answered: 8. Shifts in supply or demand I The…

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 6.11P

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Similar questions

Consider the demand for hamburgers. If the price of a substitute good (for example, hot dogs) increases and the price of a complement good (for example, hamburger buns) increases, can you tell for sure what will happen to the demand for hamburger? Why or why not? Illustrate your answer with a graph.
Name some factors that can cause a shift in line demand curve in markets for goods and services.
What is the difference between the demand and the quantity demanded of a product, say milk? Explain in words and show the difference on a graph with a demand curve for milk.
If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded of that product, will another 10 decrease in the price cause another 3 increase (no more and no less) in quantity demanded?
9. Shifts in supply or demand II The following graph shows the market for hot dogs in Detroit, where there are over 1,000 hot dog stands at any given moment. Suppose the price of sausage casing, a major ingredient in hot dogs, suddenly increases. 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. 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. Supply Demand Supply Demand QUANTITY (Hot dogs) PRICE (Dollars per hot dog)
The following graph shows the market for cakes in San Francisco, where there are over 1,000 bakeries at any given moment. Suppose the number of bakeries increases significantly. tudy Tools Show the effect of this change on the market for cakes by shifting one or both of the curves on the following graph, holding all else constant. ns 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 curve and it snaps back ess Tips to its original position, just drag it a little farther. ess Tips (?) R YOU Supply Demand ning Supply back Demand QUANTITY (Cakes) MacBook Air PRICE (Dollars per cake)
9. Shifts in supply or demand II The following graph shows the market for hot dogs in San Diego, where there are over 1,000 hot dog stands at any given moment. Suppose the price of sausage casing, a major ingredient in hot dogs, suddenly increases. 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. 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. PRICE (Dollars per hot dog) I I I I QUANTITY (Hot dogs) Supply Demand Demand D Supply ?
8. Shifts in supply or demand I The following graph shows the market for donuts in Dallas, where there are over 1,000 donut shops at any given moment. Suppose a new scientific study shows that Dallas is the most polluted city in the world. Due to health concerns, a significant number of families move out of the city. Show the effect of this change on the market for donuts 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. PRICE (Dollars per donut) QUANTITY (Donuts) Supply Demand Demand If donuts are a normal good, this will cause the demand for donuts to 0 Supply ? Now suppose Congress passes a new tax that decreases the income of Dallas residents.
8. Shifts in supply or demand I The following graph plots the market for scones in Houston, where there are always over 1,000 bakeries, Suppose the price of donuts increases. (Assume that people regard scones and donuts as substitutes.) 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. PRICE (Dolars per scone) Supply Demand Demand 1 Supply ?
11. Shifts in supply or demand I The following graph shows the market for hot dogs in Vancouver, where there are more than a thousand hot dog stands at any given moment. Suppose a new scientific study shows that Vancouver is the most polluted city in the world. Due to health concerns, a significant number of families move out of the city. 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 Demand Supply Demand QUANTITY (Hot dogs) PRICE(Dollars per hot dog)
Shifts in supply or demand I The following graph shows the market for donuts in San Francisco, where there are over 1,000 donut shops at any given moment. Suppose the price of muffins increases. (Assume that people regard donuts and muffins as substitutes.) Show the effect of this change on the market for donuts 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. DemandSupplyPRICE (Dollars per donut)QUANTITY (Donuts)D1 D2 Supply Now suppose Congress passes a new tax that decreases the income of San Francisco residents. If donuts are a normal good, this will cause the demand for donuts to

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