Question

What happens to the market demand for McDonald's hamburgers when? BI. McDonald's increases the price of its hamburgers, while the price of Burger King's hamburgers remains unchanged. B2. Burger King reduces the price of its hamburgers, while the price of McDonald's hamburgers is unchanged. B3. Scientific stadies show that eating McDonald's hamburgers improves your These are three questions, each presenting a change in the demand environment for McDonald's hamburgers. chance of finding a great boyfriend or girlfriend. each question, you should begin by drawing a typical market demand curve for McDonald's hamburgers. For cach qestion. your answer graphically, Label the axes of your graph and label or otherwise identify the curve(s) in your graph. If you use abbreviations, state what the abbreviations mean. Each question is independent of the others and assumes "other things being equal." For each question, your explanation should state: (a) the demand curve to which the result pertains (it is: "the demand curve for McDonald's hamburgers"). (b) whether the result involves "a movement along" the demand curve or "a shift in" the demand curve. (c) the direction of the "movement along" or "shift." (d) why the "moving along" or "shifl" occurs.