Suppose that both of the events you have just analyzed are partly responsible for the increase in the price of hamburgers. Based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of hamburgers?.

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02-06-2022
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Suppose that both of the events you have just analyzed are partly responsible for the increase in the price of hamburgers. Based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of hamburgers?.

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Jaquelinefvridn Jaquelinefvridn · Answer 1 · 2022-06-07T07:04:44-04:00

It is likely that the increase in the price of hamburgers is related to the fact that demand is greater than supply.

What is the law of supply and demand?

It is an economic approach to understanding the economic factors that influence the quantity of a product supplied in a market and its price.

Therefore, when there is more demand than supply for a good available in the economy, it means a situation of scarcity, which makes prices rise.

Find out more about law of supply here:

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What is the law of supply and demand?

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