Suppose we are analyzing the market for hot chocolate. Graphically illustrate the impact each of the following would have on demand or supply. Also show how equilibrium price and equilibrium quantity would change.Write the answers in your notebook only, and to be submitted on July 15, Friday.
1. The price of tea, a substitute for hot chocolate, falls.
2. The price of cocoa beans decreases.
3. A better method of harvesting cocoa beans is introduced.
Good evening Sir:
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i guess you don't understand the instruction..you have to give me your URL..i still haven't seen your reaction paper...
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ReplyDeleteRaymond Villegas 4MK-B
Econ 211b
MWF 10:00am-11:00am
http://garayching.blogspot.com/
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