9. Shifts in supply or demand II The following graph shows the market for hot dogs in New York City, where there are over 1,000 hot dog stands at any given moment. Suppose hot dog sellers expect that tomorrow the price of hot dog will be significantly higher than today's price. 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 ba to its original position, just drag it a little farther. (6) Supply Demand Supply
9. Shifts in supply or demand II The following graph shows the market for hot dogs in New York City, where there are over 1,000 hot dog stands at any given moment. Suppose hot dog sellers expect that tomorrow the price of hot dog will be significantly higher than today's price. 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 ba to its original position, just drag it a little farther. (6) Supply Demand Supply
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following graph shows the market for hot dogs in New York City, where there are over 1,000 hot dog stands at any given moment. Suppose hot dog sellers expect that tomorrow the price of hot dog will be significantly higher than today's price.
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.
Transcribed Image Text:9. Shifts in supply or demand II
The following graph shows the market for hot dogs in New York City, where there are over 1,000 hot dog stands at any given moment. Suppose hot
dog sellers expect that tomorrow the price of hot dog will be significantly higher than today's price.
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)
QUANTITY (Hot dogs)
Supply
Demand
Demand
Supply
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