In a supply and a demand diagram, draw the shift of the demand curve for hamburgers in your hometown due to the following events. In each case show the effect on equilibrium price and quantity.   a. The price of tacos increases   b. All hamburgers sellers raise the price of their French fries   c. Hot dog stands cut the prices of hot dogs

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
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In a supply and a demand diagram, draw the shift of the demand curve for hamburgers in your hometown due to the following events. In each case show the effect on equilibrium price and quantity.

 

a. The price of tacos increases

 

b. All hamburgers sellers raise the price of their French fries

 

c. Hot dog stands cut the prices of hot dogs

 

d. Income falls in town. Assume that hamburgers are normal good for most people

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