Business, 05.08.2021 15:00 pinapunapula

You are the manager at McDonalds. Using clearly labelled Demand and Supply model of Big Mac, illustrate the initial impact on market equilibrium, changes in Big Mac’s demand and / or supply, due to following events : a. An increase in the wage rate of Big Mac makers and kitchen staff. ( 1.5 Marks )
b. With lockdown imposed in the city you decide to offer competitive deals and promotions on meals ordered from homes . ( 1.5 Marks )
Graphically compare the original equilibrium point with new equilibrium point and interpret, in your own words, the resulting change in equilibrium price and equilibrium quantity for each of the above events.

Indicate on the graph the direction of change, whether ‘Movement along the Demand or Supply curve’ and/or ‘Shift of Demand or Supply curve’ and note the Price change and/or Quantity change , whether Increase or Decrease.

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You are the manager at McDonalds. Using clearly labelled Demand and Supply model of Big Mac, illustr...

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