The following graph depicts the market for candy bars, currently in equilibrium. Suppose there is an increase in cocoa prices. Shift either the supply curve or demand curve on the following graph to depict this increase in cocoa prices, then answer the questions that follow. PRICE ($ per candy bar) 8 50 45 40 30 25 20 15 10 5 0 04 Supply Demand 8 12 16 20 24 28 32 QUANTITY (Thousands of candy bars) 36 40 Demand Supply As a result of the increase in cocoa prices, the equilibrium quantity of candy bars has and the equilibrium price has

The following graph depicts the market for candy bars, currently in equilibrium. Suppose there is an increase in cocoa prices. Shift either the supply curve or demand curve on the following graph to depict this increase in cocoa prices, then answer the questions that follow. PRICE ($ per candy bar) 8 50 45 40 30 25 20 15 10 5 0 04 Supply Demand 8 12 16 20 24 28 32 QUANTITY (Thousands of candy bars) 36 40 Demand Supply As a result of the increase in cocoa prices, the equilibrium quantity of candy bars has and the equilibrium price has

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 7P

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