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- A change in resources. Change in prices of other goods. A change in producer expectation. How are those changes that are mentioned affect the quantity supplied?How does the equilibrium price and quantity change when here are bad rumors about a product? Are there any changes or none? Provide a graph of your answerApply the concepts of supply and demand 'shifters' to a life experience. Pick a good or service from an own life which has had a significant change in price. Analyze the shifts in supply and demand.
- Draw a supply and demand curve for local fast food. A new Chick-fil-A, Chipotle, and McDonald’s open up, what happens to the supply or demand of fast food? Why?Which comes first in changing the food system: supply and demand?What is the term for the total number of units that are purchased at that price? quantity quantity demanded supply market quantity
- Draw a supply and demand graph for new cars. Show the impact that the 2008-09 recession (with the decrease in consumer income) had on the market for cars. You can show this best by shifting one of the curves. What happens to the price and quantity of new cars?DRAW THE SUPPLY CURVE. NOW SHOW WHAT HAPPENS WHEN THE PRODUCT PRICE IS RAISED-Draw a supply and demand curve for cheeseburgers. Cattle farmers created a supplement to give to their cows that make them grow twice as large, what happens to the supply or demand of cheeseburgers? Why?