Using the Supply and Demand Diagrams (One for Each Market),show

question 170

Essay

Using the supply and demand diagrams (one for each market),show what short-run changes in price and quantity would be expected in the following markets if worries about weight gain from fat consumption cause consumers to reduce the demand for ice cream.Each graph should contain the original and new demand and supply curves,and the original and new equilibrium prices and quantities.For each market,write one sentence explaining why each curve shifts or does not shift.
(A)Market for ice cream
(B)Market for nonfat ,low-calorie frozen yogurt
(C)Market for ice cream toppings

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Definitions:

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