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Imagine you own a hamburger stand, why might you lobby local politicians to enforce a wage...

Imagine you own a hamburger stand, why might you lobby local politicians to enforce a wage increase for pizza workers?

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Answer #1

Pizza and hamburgers are close substitutes for the consumer, and therefore the price of pizza and demand for hamburgers are directly related.Higher the price of pizza, higher will be the demand for hamburgers.And now if the wages of pizza workers increase the cost of production of pizza increases which in turn leads to increase in the price of pizzas.So it makes sence for the hamburger stand owner to lobby the politicians .

Putting it more economically, the demand curve for hamburgers shift rightward against an increase in the price of pizza.The supply curve for pizza shift leftward against an increase in the cost of production of pizza,indicating an increase in the market price for pizza.

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