Let Qd=1600-300P ; and Qs=1400+700P for dark chocolate bars. Explain and illustrate the changes in equilibrium if a. Ads featuring dark chocolate as "good for the heart" b. Price of cocoa becomes cheaper and the ad enticed consumers to buy more
Let Qd=1600-300P ; and Qs=1400+700P for dark chocolate bars. Explain and illustrate the changes in equilibrium if a. Ads featuring dark chocolate as "good for the heart" b. Price of cocoa becomes cheaper and the ad enticed consumers to buy more
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 3QP
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Let Qd=1600-300P ; and Qs=1400+700P for dark chocolate bars.
Explain and illustrate the changes in equilibrium if
a. Ads featuring dark chocolate as "good for the heart"
b.
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Hi! What would a and b look like if illustrated in a graph?
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