Demand for bagels rises dramatically
Explain the demand for bagels rises dramatically while the demand for breakfast cereal falls?
Expert
Consumers can redirect resources through their “dollar votes.” The increased demand for bagels will raise their market price, while the decrease in demand for cereal will cause its market price to fall. A higher price for bagels provides an incentive for producers to increase output.
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Quantity TR TC 0 $0.00 $10.00 1 $150.00 $30.00 2 $290.00 $50.00 3 $420.00 $80.00 4 $540.00 $120.00 5 $650.00 $170.00 6 $750.00 $230.00 7 $840.00 $300.00 8 $920.00 $
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