Advanced Placement (AP), 21.10.2020 22:01, alexanderickh1

2 Macro Topic 1.6
Changes in Equilibrium
Assume that only hamburgers are made from ground beef and that hot dogs and hamburgers are
perfect substitutes. Pickles are a complement for hamburgers and mason jars are used to package
pickles and jelly. Show what will happen in each market if the price of ground beef significantly
increases.
A. Market for hamburgers
B. Market for hot dogs
S
P2
PI

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2 Macro Topic 1.6
Changes in Equilibrium
Assume that only hamburgers are made from grou...