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Question: 15 another supply and demand puzzle the market price of...

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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, has increased. Other students 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 groups explanation for the increase in the price of pizz Supp Supply QUANTITY (Pizzas)The second group of students attributes the increase in the price of pizzas to the increase in college student enrollment. On the following graph, adjust the supply and demand curves to illustrate the second groups explanation for the increase in the price of pizzas. Demand Supply Y. Demand QUANTITY (Pizzas) Megan Mason Resume updated 1.14.19 - WordSuppose 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 If the price increase was small, then the supply shift in the market for pizzas must have been larger than the demand shift. 參If the equilibrium quantity of pizzas decreases, then the demand shift in the market for pizzas must have been larger than the supply shift. Whichever change occurred first must have been the primary cause of the change in the price of pizzas. 參If the equilibrium quantity of pizzas decreases, then the supply shift in the market for pizzas must have been larger than the demand shift.

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