The market price of calzones in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease. Some students suggest that the price decreased because a new type of pizza oven allows pizza shops to make a calzone in half the time. Other students attribute the decrease in the price of calzones to a recent increase in the price of beer. Everyone agrees that the increase in the price of beer was caused by a recent increase in the price of hops, which are not generally used in making calzones. Assume that pizza parlors and burger joints are entirely separate entitiesâthat is, there aren't places that serve both calzones and cheeseburgers. The first group of students thinks the decrease in the price of calzones is due to the fact that a new type of pizza oven allows pizza shops to make a calzone in half the time.

Required:
Draw the graph, that adjust the supply and demand curves to illustrate the first groupâs explanation for the decrease in the price of calzones.

Question

07-03-2022
Business

Answered

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The market price of calzones in a college town decreased recently, and the students in an economics class are debating the cause of the price decrease. Some students suggest that the price decreased because a new type of pizza oven allows pizza shops to make a calzone in half the time. Other students attribute the decrease in the price of calzones to a recent increase in the price of beer. Everyone agrees that the increase in the price of beer was caused by a recent increase in the price of hops, which are not generally used in making calzones. Assume that pizza parlors and burger joints are entirely separate entitiesâthat is, there aren't places that serve both calzones and cheeseburgers. The first group of students thinks the decrease in the price of calzones is due to the fact that a new type of pizza oven allows pizza shops to make a calzone in half the time.

Required:
Draw the graph, that adjust the supply and demand curves to illustrate the first groupâs explanation for the decrease in the price of calzones.

Sagot :

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Tundexi Tundexi · Answer 1 · 2022-03-21T06:19:44-04:00

On the graph, we will adjust the supply and demand curves to illustrate the decrease in the price of calzones by making the supply curve shifts to the right.

What happen when supply curve shifts to the right?

When the supply curve shifts to the right, its means that there is an increase in the change in supply.

Hence, the increase in the change in supply makes price of product reduces at there is enough availability of the product.

In conclusion, we will adjust the supply and demand curves to illustrate the decrease in the price of calzones by making the supply curve shifts to the right.

Sagot :

What happen when supply curve shifts to the right?

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