This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 4d) There would be a shortage in supply. People will be willing to pay more causing the prices to increase. 5a) P Q S D D1 The demand for hot dogs shifts to the left causing price and quantity to decrease. Q* Q*1 P* P*1 5b) *For the graphs: "Create a Graph." Nces.Ed.Gov . 10 Feb. 2008 <http://nces.ed.gov/nceskids/createagraph/default.aspx>. P Q D S Demand for hot dogs shift to the right causing price and quantity to increase. D1 Q* Q*1 P* P*1...
View Full Document