The market price of cheeseburgers in a university town increased recently, and the students in an economics class are debating the cause of the price increase. Some students suggest that the price increased because the price of beef, an important ingredient for making cheeseburgers, has increased. Other students attribute the increase in the price of cheeseburgers to a recent increase in university student enrollment. The first group of students thinks the increase in the price of cheeseburgers is due to the fact that the price of beef, an important ingredient for making cheeseburgers, has increased. On the following graph, adjust the supply and demand curves to illustrate the first group's explanation for the increase in the price of cheeseburgers. 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. Supply Demand QUANTITY (Cheeseburgers) PRICE (Dollars per cheeseburger) The second group of students attributes the increase in the price of cheeseburgers to the increase in university student enrollment. 10 Demand On the following graph, adjust the supply and demand curves to illustrate the second group's explanation for the increase in the price of cheeseburgers. Supply Supply 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. Demand ? QUANTITY (Cheeseburgers) Demand Supply P anshuele of uppose that both of the events you have just analyzed are partly responsible for the increase in the price of cheeseburgers. Based on your analysis of me explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominint cause of the increase the price of cheeseburgers? O If the equilibrium quantity of cheeseburgers decreases, then the demand shift in the market for cheeseburgers must have been larger than the supply shift. If the equilibrium quantity of cheeseburgers decreases, then the supply shift in the market for cheeseburgers must have been larger than the demand shift. O whichever change occurred first must have been the primary cause of the change in the price of cheeseburgers. O If the price increase was large, then the supply shift in the market for cheeseburgers must have been larger than the demand shift.