Demonstrate the effect on price and quantity of each of the following events: a. In a recent popularity test, Elmo topped Cookie Monster in popularity (Cookie Monster's popularity is directly correlated to the popularity of cookies). Market: cookies. Instructions: Draw a parallel shift in the demand or supply curve(s) by grabbing, dragging, and then dropping the curve(s) to the new position(s). In the cookie market, equilibrium price will and equilibrium quantity will . b. The Atkins Diet that limits carbohydrates was reported to be very effective. Market: high carbohydrate bread. Instructions: Draw a parallel shift in the demand or supply curve(s) by grabbing, dragging, and then dropping the curve(s) to the new position(s). In the high carbohydrate bread market, equilibrium price will and equilibrium quantity will .
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