Suppose that both of the events you have just analyzed are partly responsible for the increase in the price of calzones. based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of calzones? whichever change occurred first must have been the primary cause of the change in the price of calzones. if the equilibrium quantity of calzones increases, then the demand shift in the market for calzones must have been larger than the supply shift. if the price increase was small, then the supply shift in the market for calzones must have been larger than the demand shift. if the equilibrium quantity of calzones increases, then the supply shift in the market for calzones must have been larger than the demand shift.
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Suppose that both of the events you have just analyzed are partly responsible for the increase in th...
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