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Homework answers / question archive / The market price of pizza in College Town decreased recently
The market price of pizza in College Town decreased recently. Some students in an economics class suggest that the price fell because several new pizza parlors opened for business in the area. Other students attributed the fall in the price of pizza more to the fall in the price of hamburgers at local burger joints. Everyone agreed that the fall in the price of hamburgers was caused by a fall in the price of ground beef. The second group of students attributed the lower price of pizza to a fall in the price of hamburgers. How would the supply and demand graph of the market for pizza change to illustrate their idea?
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