Answer to Question #159208 in Microeconomics for Alma khanam Chowdhury

Question

Use supply and demand curves to illustrate how each of the following events would

affect the price of KitKat chocolate bar and the quantity of Kitkat bought and sold:

a. An increase in the price of Cadbury chocolate bar.                    

b. An increase in the price of Chocolate.                              

c. A decrease in average income levels.                              

    d.   Pandemic has caused cocoa harvest to drop drastically.  

Answer 1

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