To the citizens of the country of Merka, there is no meal
better than a hot dog nestled securely in a hot dog bun. Relish is optional, mustard is not. The hypothetical market for hot dogs in Merka is graphed. Suppose that the price of hot dog buns decreases. Illustrate the impact of this change on the
market by manipulating the appropriate curve or curves.
The equilibrium price it hot dogs:
a) decreases
b) increases
c) remains the same
The equilibrium quantity of hot dogs:
a) increases
b) decreases
c) remains the same
The supply curve shifts:
a) left
b) right
The demand curve shifts:
a) left
b) right