Please see attachments for questions. Consider the market for wheat. The following graph shows the weekly demand for wheat and the weekly supply of wheat. Suppose a spell of unusually good weather occurs, which enables wheat producers to generate more wheat per acre of land.
Show the effect this shock has on the market for wheat by shifting the demand curve, supply curve, or both.
Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther.
- Attachment 1
- Attachment 2
