Government taxes burger producers V [Choose ] Demand- TashEs and Preferences Demand- Number of consumers Price increases to $5 for hamburgers Supply- Government Action Trick question, prices doesn't shift the curve Supply- Prices and availability of inputs New bun baking technology cuts production time in half Demand- Income

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Identify determinant (shifters) for each scenario
Government taxes burger producers
V [ Choose ]
Demand- TashEs and Preferences
Demand- Number of consumers
Price increases to $5 for hamburgers
Supply- Government Action
Trick question, prices doesn't shift the curve
Supply- Prices and availability of inputs
New bun baking technology cuts production time in half
Demand- Income
Supply- Expectations of Future Profit
New health craze- "No ground Beef"
Supply- Technology
Demand- Price of related goods
Demand- Future Expectations
Minimum wage increases to $20
Trick question, prices does
Hamburger restaurants announce that they will significantly increase
prices NEXT month
[Choose ]
[Choose ]
Population boom
Transcribed Image Text:Government taxes burger producers V [ Choose ] Demand- TashEs and Preferences Demand- Number of consumers Price increases to $5 for hamburgers Supply- Government Action Trick question, prices doesn't shift the curve Supply- Prices and availability of inputs New bun baking technology cuts production time in half Demand- Income Supply- Expectations of Future Profit New health craze- "No ground Beef" Supply- Technology Demand- Price of related goods Demand- Future Expectations Minimum wage increases to $20 Trick question, prices does Hamburger restaurants announce that they will significantly increase prices NEXT month [Choose ] [Choose ] Population boom
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