For each of the following, draw a rough graph that illustrate the likely effect on the...

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For each of the following, draw a rough graph that illustrate the likely effect on the...

For each of the following, draw a rough graph that illustrate the likely effect on the market for eggs. Indicate in each case whether ther is an increase or decrease in the equilibrium price and the equilibrium quantity.
1. A decrease in the price of bacon
2. A decrease in the price of chicken feed
3. A recession in the US
4. A growing belief that "really cool people" always order Caesar salad when dining out

business economics

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Answer 1

Answer #1

4,91 وو او A decrease in price of bacon will decrease price of eggs,as bacon and eggs are substitutes.

B.The cost of production of eggs falls due to fall in price of inputs.Supply rises, reducing price and increasing quantity.

C.Same as A.

D.The demand for eggs rise due to high demand for Ceaser salad.Price and quantity rises.

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Answer 2

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