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. ols 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 back to its original position, just drag it a little farther, (?) O Supply Demand Supply Demand QUANTITY (Cakes) PRICE (Dollars per cake)

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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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)
Transcribed Image Text: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)
Expert Solution
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Supply curve shows quantity supplied by producers at various prices. It slopes upward. When number of suppliers increase, the market output increases.

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