15. Another supply and demand puzzle The market price of pizzas in a college town increased recently, and the students i

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15. Another supply and demand puzzle The market price of pizzas in a college town increased recently, and the students in an economics class are debating the cause of the price increase Some students suggest that the price increased because the price of dough, an important ingredient for making pizzas, hes increased. Other studenta attribute the increase in the price of pizzas to a recent increase in college student enrollment. The first group of students thinks the increase in the price of pizzas is due to the fact that the price of dough, an important ingredient for making pizzas, has increased. On the following graph, adjust the supply and demand curves to illustrate the first group's explanation for the increase in the price of pizzas 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 33. Supply Demand OLO B A F C C O D 980 C POT. 127 PM VON/2002
Homework (Ch 04) PRICE (Dollars per pizza) QUANTITY (Pizzas) Supply Demand 1 Supply A-Z
Homework ( The second group of students attributes the increase in the price of pizzas to the increase in college student enrolment On the following graph, adjust the supply and demand curves to illustrate the second group's explanation for the increase in the price of pizzes Supply PRICE (Dollars per pizza) OL {1}} Demand Supply A B 8 Bongo la E 980 E 128 PM SOMONIZ
PRICE G Demand QUANTITY (Pizza) Suppose that both of the events you have just analyzed are partly responsible for the increase in the price of pizzas. Based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of pizzas? O Whichever change occurred first must have been the primary cause of the change in the price of pizzas. O If the price increase was small, then the supply shift in the market for pizzas must have been larger than the demand shift O If the equilibrium quantity of pizzas increases, then the demand shift in the market for pizzas must have been larger than the supply shift O If the equilibrium quantity of pizzas increases, then the supply shift in the market for pizzas must have been larger than the demand shift. AZ D +00 1:28 PM OB
PRICE G Demand QUANTITY (Pizza) Suppose that both of the events you have just analyzed are partly responsible for the increase in the price of pizzas. Based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of pizzas? O Whichever change occurred first must have been the primary cause of the change in the price of pizzas. O If the price increase was small, then the supply shift in the market for pizzas must have been larger than the demand shift O If the equilibrium quantity of pizzas increases, then the demand shift in the market for pizzas must have been larger than the supply shift O If the equilibrium quantity of pizzas increases, then the supply shift in the market for pizzas must have been larger than the demand shift. AZ D +00 1:28 PM OB