Question

The following graph shows the market for pianos in 2008. Between 2008 and 2009, the equilibrium quantity of pianos remained constant, but the equilibrium price of pianos increased.

 The following graph shows the market for pianos in 2008. Between 2008 and 2009, the equilibrium quantity of pianos remained constant, but the equilibrium price of pianos increased. From this, you can conclude that between 2008 and 2009, the supply of pianos _______  and the demand for pianos _______ .

 Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves in 2009.

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 The second group of students attributes the increase in the price of cheeseburgers increase in college student enrollment.

 On the following graph, adjust the supply and demand curves to illustrate the secon group's explanation for the increase in the price of cheeseburgers.

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 Suppose that both of the events you have just analyzed are partly responsible for the increase in the price of cheeseburgers. Based on your analysis of the explanations o by the two groups of students, how would you figure out which of the possible caus the dominant cause of the increase in the price of cheeseburgers?

 If the equilibrium quantity of cheeseburgers increases, then the supply shift in the market for cheeseburgers must have been larger than the demand shift.

 If the price increase was large, then the supply shift in the market for

 cheeseburgers must have been larger than the demand shift.

 If the equilibrium quantity of cheeseburgers increases, then the demand shift the market for cheeseburgers must have been larger than the supply shift.




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