Name…………………………………

a. America sells much of its beef for hamburgers overseas. There is an increase in national income of Asian nations: Use a graph of Supply and Demand to show it’s effect on the equilibrium price and quantity of the burgers in the USA. Describe the change in the equilibrium price and quantities. 

b. There is a drought and the availability of grain that the cattle farmers use as feed declines. Use a graph to show the effect of the change in feed costs on the equilibrium price and quantity of burgers ln the long run. Describe the change in the equilibrium price and quantities.
 
 
 

c. Many individuals watch a TV series about the health aspects of sub sandwiches and develop a preference for them over burgers. Use a graph to show the effect on the equilibrium price and quantity of burgers.Describe the change in the equilibrium price and quantities for burgers.