The demand and supply of muffins in a small town are shown in the graph below. A great review of the town's bakeries in a major newspaper causes the demand for muffins to increase by 2 muffins at each price. Draw the new demand curve. (Be sure to make the new demand curve the same length as the original using the segment tool.) Then add a point at the new equilibrium using the point tool. +Move Price per muffin 1 9 8 A 6 5 D 3 2 0 Point Segment 3 6 Quantity of muffins per week Undo 8 Redo x Reset 9
The demand and supply of muffins in a small town are shown in the graph below. A great review of the town's bakeries in a major newspaper causes the demand for muffins to increase by 2 muffins at each price. Draw the new demand curve. (Be sure to make the new demand curve the same length as the original using the segment tool.) Then add a point at the new equilibrium using the point tool. +Move Price per muffin 1 9 8 A 6 5 D 3 2 0 Point Segment 3 6 Quantity of muffins per week Undo 8 Redo x Reset 9
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 7P
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