Show the effect on equilibrium price and quantity

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Reference no: EM131530268

Question: In a supply and demand diagram, draw the shift of the demand curve for hamburgers in your hometown due to the following events. In each case, show the effect on equilibrium price and quantity.

a. The price of tacos increases.

b. All hamburger sellers raise the price of their french fries.

c. Income falls in town. Assume that hamburgers are a normal good for most people.

d. Income falls in town. Assume that hamburgers are an inferior good for most people.

e. Hot dog stands cut the price of hot dogs

Reference no: EM131530268

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