Please give a detailed solution with an explanation. Please make sure the graph is visible, clear, and detailed. Make sure to include the new equilibrium coordinate point as well. 8. Shifts in supply or demand IIThe following graph shows the market for cakes in San Diego, where there are over 1,000 bakeries at any given moment. Suppose the price of flour, amajor ingredient in cakes, suddenly increases.Show the effect of this change on the market for cakes by shifting one or both of the curves on the following graph, holding all else constant.Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps backto its original position, just drag it a little farther.SupplyDemandSupplyDemandQUANTITY (Cakes)PRICE (Dollars per cake)

Answered: Please give a detailed solution with an…

Please give a detailed solution with an explanation. Please make sure the graph is visible, clear, and detailed. Make sure to include the new equilibrium coordinate point as well.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 7P

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9. Shifts in supply or demand II The following graph shows the market for hot dogs in Detroit, where there are over 1,000 hot dog stands at any given moment. Suppose the price of sausage casing, a major ingredient in hot dogs, suddenly increases. Show the effect of this change on the market for hot dogs by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. Supply Demand Supply Demand QUANTITY (Hot dogs) PRICE (Dollars per hot dog)
8. Shifts in supply or demand I The following graph shows the market for donuts in Dallas, where there are over 1,000 donut shops at any given moment. Suppose a new scientific study shows that Dallas is the most polluted city in the world. Due to health concerns, a significant number of families move out of the city. Show the effect of this change on the market for donuts by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dollars per donut) QUANTITY (Donuts) Supply Demand Demand If donuts are a normal good, this will cause the demand for donuts to 0 Supply ? Now suppose Congress passes a new tax that decreases the income of Dallas residents.
The following graph shows the market for cakes in San Francisco, where there are over 1,000 bakeries at any given moment. Suppose the number of bakeries increases significantly. tudy Tools Show the effect of this change on the market for cakes by shifting one or both of the curves on the following graph, holding all else constant. ns Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move curve and it snaps back ess Tips to its original position, just drag it a little farther. ess Tips (?) R YOU Supply Demand ning Supply back Demand QUANTITY (Cakes) MacBook Air PRICE (Dollars per cake)
9. Shifts in supply or demand II The following graph shows the market for hot dogs in San Diego, where there are over 1,000 hot dog stands at any given moment. Suppose the price of sausage casing, a major ingredient in hot dogs, suddenly increases. Show the effect of this change on the market for hot dogs by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dollars per hot dog) I I I I QUANTITY (Hot dogs) Supply Demand Demand D Supply ?
11. Shifts in supply or demand I The following graph shows the market for hot dogs in Vancouver, where there are more than a thousand hot dog stands at any given moment. Suppose a new scientific study shows that Vancouver is the most polluted city in the world. Due to health concerns, a significant number of families move out of the city. Show the effect of this change on the market for hot dogs by shifting one or both of the curves on the following graph, holding all else constant. Supply Demand Supply Demand QUANTITY (Hot dogs) PRICE(Dollars per hot dog)
8. Shifts in supply or demand I The following graph plots the market for scones in Houston, where there are always over 1,000 bakeries, Suppose the price of donuts increases. (Assume that people regard scones and donuts as substitutes.) Show the effect of this change on the market for scones by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dolars per scone) Supply Demand Demand 1 Supply ?
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8. Shifts in supply or demand I The following graph plots the market for electric guitars in Chicago, where there are always over 1,000 music stores. Suppose the price of acoustic guitars decreases. (Assume that people regard electric guitars and acoustic guitars as substitutes.) Show the effect of this change on the market for electric guitars by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. PRICE (Dollars per guitar) QUANTITY (Guitars) Supply Demand Demand Supply ? Now suppose Congress passes a new tax that decreases the income of Chicago reside If electric guitars are a normal good, this will cause the demand for electric guitars to decrease increase
8. Shifts in supply or demand I The following graph shows the market for peanut butter in Philadelphia, where there are over 1,000 stores that sell peanut butter at any given ols moment. Suppose the price of hazelnut spread decreases. (Assume that people regard peanut butter and hazelnut spread as substitutes.) Show the effect of this change on the market for peanut butter by shifting one or both of the curves on the following graph, holding all else constant. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. (? Supply Demand Supply Demand QUANTITY (Jars) MacBook Air PRICE (Dollars per jar)