The market is the burger market. Production at a burger chain had been slow, but the owners invested in a new, fast cooking grill and fryer (a new technology). What do you expect to happen to the supply of burgers? A). Will the supply change (shift of the curve) of will the quantity supplied change (movement along the line)? Answer:______________________________________ B). If supply changes, will the curve shift to the right (increase in supply) or shift to the left (decrease in supply)? Please draw this on the graph above. C). If the supply changes, what is the factor or determinant affecting the change? If the curve did not shift, there is no determinant. Please see Supply/Demand Cheat Sheet...Hint: Natural Disasters, Price of inputs, technology, and expectations Answer:_____________________________________
The market is the burger market. Production at a burger chain had been slow, but the owners invested in a new, fast cooking grill and fryer (a new technology). What do you expect to happen to the supply of burgers?
A). Will the supply change (shift of the curve) of will the quantity supplied change (movement along the line)?
Answer:______________________________________
B). If supply changes, will the curve shift to the right (increase in supply) or shift to the left (decrease in supply)? Please draw this on the graph above.
C). If the supply changes, what is the factor or determinant affecting the change? If the curve did not shift, there is no determinant.
Please see Supply/Demand Cheat Sheet...Hint: Natural Disasters,
Answer:_____________________________________
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