ENGR.ECONOMIC ANALYSIS
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ISBN: 9780190931919
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Concept Question 4.9
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The graph on the right shows the market for hamburger, which is in equilibrium.
Hamburger is a normal good, and people like to eat cheese with hamburger.
Beef is an input to hamburger production.
Suppose that there is an increase in the number of firms in the market.
S
1.) Using the line drawing tool, show the effect on the market. Properly label
your new curve.
2.) Using the point drawing tool, show the new equilibrium price and quantity.
Label your point 'E'.
Carefully follow the instructions above, and only draw the required objects.
D
23
Quantity of hamburger
Click the graph, choose a tool in the palette and follow the instructions to create your graph.
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