Question: market shocks graphs for each graph 1725 show the shift...
Market SHOCKS Graphs.
For each graph 17–25, show the Shift in Demand or Supply that will happen ON EACH GRAPH given event described. Below each Graph predict what happens to Equilibrium Price and Quantity (up or down). Put: Up, Down, or “?” (can’t tell).
DOUBLE SHIFT -- Incomes FALL, and frozen French Fries are considered an INFERIOR good to consumers; while at the same time, Potato crops are abundant this year, due to excellent weather!
P: _____ Q: _____