For these examples you will be looking at the hamburger (a normal good) market. Identify the determinant (shifter) for each scenario. Price of tacos, a substitute, decreases V [ Choose ] ho Demand- Tastes and Preferences Demand- Number of consumers Strange virus kills 20% of cows Supply- Government Action Trick question, prices doesn't shift the curve Incomes fall due to recession Supply- Prices and availability of inputs Demand- Income Supply- Expectations of Future Profit Government taxes burger producers Supply- Technology Demand- Price of related goods Demand- Future Expectations Price increases to $5 for hamburgers Choose] New bun baking technology cuts production time in half [Choose] New health craze- "No ground Beef" [Choose) [Choose] Minimum wage increases to $20 Hamburger restaurants announce that they will significantly increase Choose ) prices NEXT month [Choose] Population boom

For these examples you will be looking at the hamburger (a normal good) market. Identify the determinant (shifter) for each scenario. Price of tacos, a substitute, decreases V [ Choose ] ho Demand- Tastes and Preferences Demand- Number of consumers Strange virus kills 20% of cows Supply- Government Action Trick question, prices doesn't shift the curve Incomes fall due to recession Supply- Prices and availability of inputs Demand- Income Supply- Expectations of Future Profit Government taxes burger producers Supply- Technology Demand- Price of related goods Demand- Future Expectations Price increases to $5 for hamburgers Choose] New bun baking technology cuts production time in half [Choose] New health craze- "No ground Beef" [Choose) [Choose] Minimum wage increases to $20 Hamburger restaurants announce that they will significantly increase Choose ) prices NEXT month [Choose] Population boom

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 3.4P

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