Microeconomics
posted by Tami
For each of the following situations for the egg market, describe what the impact on the equilibrium price and equilibrium quanity would be.
1A sureon general warns that highcholesterol foods cause heart attacks.
 This would cause the price to drop and the quanity to increase
2The prices of bacon, a complementary product, decrease.
This would cause egg prices to increase and the quanity to decrease.
3An increase in the price of chicken feed occurs.
This would increase the price, but the quanity would stay the same.
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