Instructions: graph the demand or supply shift (whichever is applicable) and indicate the old and new market equilibrium (P1/Q1/P2/Q2).
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Instructions: graph the demand or supply shift (whichever is applicable) and indicate the old and new

market equilibrium (P1/Q1/P2/Q2).

Q: If the minimum wage in Houston rises by 14%, how would I graph McDonalds?

a.      What is the non-price determinant?

b.      Does the shift cause a surplus or shortage?

c.     Has the quantity/price at equilibrium risen or fallen?

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