The market for restaurant pizza in Chicago is currently in equilibrium at a price of $8
and 2,000 pizzas are sold each day. Explain what will happen to the equilibrium price and quantity of pizzas sold and why (which curve has changed) for each of the following situations:
(a.) Delivery personnel form a labor union and secure a higher wage of $7.50 per hour (a large increase in their wage).
(b.) Fast-food hamburger restaurants (Burger King & McDonalds) cut their prices in half.

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The Answer of The market for restaurant pizza in Chicago is currently in equilibrium at a price of $8
and 2,000 pizzas are sold each day. Explain what will happen to the equilibrium price and quantity of pizzas sold and why (which curve has changed) for each of the following situations:
(a.) Delivery personnel form a labor union and secure a higher wage of $7.50 per hour (a large increase in their wage).
(b.) Fast-food hamburger restaurants (Burger King & McDonalds) cut their prices in half.

The Market for Restaurant Pizza in Chicago Is Currently in Equilibrium