Where I should shift the demand curve or supply curve 5. Shifts in supply or dem

Question

Where I should shift the demand curve or supply curve

5. Shifts in supply or demand I The following graph shows the market for hot dogs in San Diego, where there are over 1,000 hot dog stands at any given moment. Suppose Congress passes a tax cut that increases the income of San Diego residents. (Assume that hot dogs are a normal good.) Show the effect of this change on the market for hot dogs by shifting one or both of the curves on the following graph, holding all else constant. Supp Demand Supply QUANTITY (Hot dogs)

Explanation / Answer

The demand curve will shift rightward.leading to increase in demand for hot dog.

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