Question

Below each Graph predict (show) what happens to Equilibrium Price and Quantity with Arrows: Up, Down, or “?” (can’t tell).

17.  Prices for Ketchup, a “complement” used with eating frozen French Fries, goes way DOWN!:

Price S, Cost D, value Quantity   

P: _____    Q: _____

  

18. Flooding destroys 80% of the Potato Crops, this year!

Price S, Cost D, value Quantity   

P: _____    Q: _____

) 19. DOUBLE SHIFT -- Incomes FALL, and frozen French Fries are considered an INFERIOR good to consumers; while at the same time, Potato crops are abundant this year, due to excellent weather!

Price S, Cost D, value Quantity

P: _____    Q: _____

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