Question

Consider the restaurant Jack in the Box. As a student, you visit Jack in the Box every week. After graduating college, you (and many other students) started a job paying more than $60,000 per year. Assuming that the number of graduating students is large enough to influence the market, what will happen to the equilibrium price and quantity of Jack in the Box burgers

Answer 1

well there is many factors that can effect this. the burgers will go up because that's what you are used to eating and find comfort in. and the other college students will also eat there.