UNIT ONE (FOR EXAM ONE)
Unit One--Assignment Two--Web Problem 2
UNIT ONE (FOR EXAM ONE)
Unit One--Assignment Two--Web Problem 2
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A |
Set up a supply and demand sketch graph for hamburgers. Assume that the price of French fries, a complement, goes up. Make one shift on your hamburger graph to show the effect of this change. Label the old and the new equilibrium prices as well as the old and new equilibrium quantities.
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B |
Prepare another supply and demand sketch graph, but this time assume that the price of French fries went down. Make one shift and label the old and new equilibrium prices and quantities.
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