Problem
For each of the following statements, draw a diagram that illustrates the likely effect on the market for eggs. Indicate in each case the impact on equilibrium price and equilibrium quantity.
a. A surgeon general warns that high-cholesterol foods cause heart attacks.
b. The price of bacon, a complementary product, decreases.
c. An increase in the price of chicken feed occurs.
d. Caesar salads become trendy at dinner parties. (The dressing is made with raw eggs.)
e. A technological innovation reduces egg breakage during packing.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.