The following graph shows the market for pianos in 2008. Between 2008 and 2009, the equilibrium quantity of pianos remained constant, but the equilibrium price of pianos increased.
The following graph shows the market for pianos in 2008. Between 2008 and 2009, the equilibrium quantity of pianos remained constant, but the equilibrium price of pianos increased. From this, you can conclude that between 2008 and 2009, the supply of pianos _______ and the demand for pianos _______ .
Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves in 2009.
The second group of students attributes the increase in the price of cheeseburgers increase in college student enrollment.
On the following graph, adjust the supply and demand curves to illustrate the secon group's explanation for the increase in the price of cheeseburgers.
Suppose 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 the explanations o by the two groups of students, how would you figure out which of the possible caus the dominant cause of the increase in the price of cheeseburgers?
If the equilibrium quantity of cheeseburgers increases, then the supply shift in the market for cheeseburgers must have been larger than the demand shift.
If the price increase was large, then the supply shift in the market for
cheeseburgers must have been larger than the demand shift.
If the equilibrium quantity of cheeseburgers increases, then the demand shift the market for cheeseburgers must have been larger than the supply shift.
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The following graph shows the market for pianos in 2008. Between 2008 and 2009, the equilibrium quantity of pianos remained constant, but the equilibrium price of pianos increased.
The following graph shows the market for cars in 2008. Between 2008 and 2009, the equilibrium price of cars remained constant
The following graph shows the market for cars in 2008. Between 2008 and 2009, the equilibrium price of cars remained constant, but the equilibrium quantity of cars decreased. From this, you can conclude that between 2008 and 2009, the supply of cars _______ and the demand for cars _______ .Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves in 2009. Note: Select and drag one or both of the curves to the desired...
13. A supply and demand puzzle The following graph shows the market for pianos in 2008....
13. A supply and demand puzzleThe following graph shows the market for pianos in 2008 . Between 2008 and 2009, the equilibrium price of pianos remained constant, but the equilibrium quantity of pianos increased. From this, you can conclude that between 2008 and 2009, the supply of pianos _______ and the demand for pianos _______ Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves in 2009 .
14. Another supply and demand puzzleThe market price of cheeseburgers in a college town increased...
14. Another supply and demand puzzleThe market price of cheeseburgers in a college 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 several burger joints in the area have recently gone out of business. Other students attribute the increase in the price of cheeseburgers to a recent increase in the price of calzones at local pizza parlors.Everyone agrees that the increase in the...
The following graph shows the market for laptops in 2007 . Between 2007 and 2008, the equilibrium price of laptops remained constant, but the equilibrium quantity of laptops increased.
A supply and demand puzzleThe following graph shows the market for laptops in 2007 . Between 2007 and 2008, the equilibrium price of laptops remained constant, but the equilibrium quantity of laptops increased. From this, you can conclude that between 2007 and 2008, the supply of laptops _______ and the demand for laptops _______ Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves in 2008 .Note: Select and drag one or both of...
The market price of cheeseburgers in a college town decreased recently, and the students in an...
The market price of cheeseburgers in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease. Some students suggest that the price decreased because several new burger joints have recently opened in the area. Other students attribute the decrease in the price of cheeseburgers to a recent decrease in college student enrollment. The first group of students thinks the decrease in the price of cheeseburgers is due to the fact...
The following graph shows the market for cars in 2007. Between 2007 and 2008, the equilibrium price of quantity of cars increased
14. A supply and demand puzzle The following graph shows the market for cars in 2007. Between 2007 and 2008, the equilibrium price of quantity of cars increased. From this, you can conclude that between 2007 and 2008, the supply of cars _______ and the demand for cars _______ .Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves in 2008.
15. Another supply and demand puzzle The market price of pizzas in a college town increased...
15. Another supply and demand puzzleThe market price of pizzas in a college 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 several pizza parlors in the area have recently gone out of business. Other students attribute the increase in the price of pizzas to a recent increase in college student enrollment.The first group of students thinks the increase in the price of...
The g graph shows the market for pianos in 2010. Between 2010 and 2011, the equilibrium...
The following graph shows the market for pianos in 2010 . Between 2010 and 2011, the equilibrium price of pianos remained constant, but the equilibrium quantity of pianos decreased. From this, you can conclude that between 2010 and 2011, the supply of pianos decreased _______ and the demand for pianos _______.Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves in 2011 .
15. Another supply and demand puzzle The market price of calzones in a college town increased...
15. Another supply and demand puzzleThe market price of calzones in a college 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 several pizza parlors in the area have recently gone out of business. Other students attribute the increase in the price of calzones to a recent increase in college student enrollment.The first group of students thinks the increase in the price of...
The market price of pizzas in a college town increased recently, and the students in an economics class are debating the cause of the price increase
The market price of pizzas in a college 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 several pizza parlors in the area have recently gone out of business. Other students attribute the increase in the price of pizzas to a recent increase in college student enrollment. The first group of students thinks the increase in the price of pizzas is due to the...
The market price of cheeseburgers in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease. Some students suggest that the price decreased because several new burger joints have recently opened in the area. Other students attribute the decrease in the price of cheeseburgers to a recent decrease in college student enrollment. The first group of students thinks the decrease in the price of cheeseburgers is due to the fact...
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