the graph shows the demand for and supply of potato chips. draw a curve that shows the effect of a new dip…

the graph shows the demand for and supply of potato chips. draw a curve that shows the effect of a new dip that increases the quantity of potato chips that people want to buy by 30 million bags per week at each price. label the curve. draw a point at the new equilibrium price and quantity. what is the effect of the new dip on the market for potato chips? the effect of the new dip is ______ a. an increase in demand and an increase in the quantity of potato chips supplied b. a decrease in the supply of potato chips and an increase in the quantity of potato chips demanded c. an increase in demand and an increase in the supply of potato chips d. an increase in the supply of potato chips

the graph shows the demand for and supply of potato chips. draw a curve that shows the effect of a new dip that increases the quantity of potato chips that people want to buy by 30 million bags per week at each price. label the curve. draw a point at the new equilibrium price and quantity. what is the effect of the new dip on the market for potato chips? the effect of the new dip is ______ a. an increase in demand and an increase in the quantity of potato chips supplied b. a decrease in the supply of potato chips and an increase in the quantity of potato chips demanded c. an increase in demand and an increase in the supply of potato chips d. an increase in the supply of potato chips

Answer

Brief Explanations:

The new dip increases the quantity of potato - chips people want to buy at each price, which is a change in demand. An increase in demand shifts the demand curve to the right. In a market, when demand increases, the equilibrium price and quantity supplied increase as the market moves to a new equilibrium. The supply curve itself does not shift due to the new dip.

Answer:

A. an increase in demand and an increase in the quantity of potato chips supplied