Bill's Diner is an American burger restaurant. There is an increase in import costs of products needed from America, and change in perceptions of fast food such as burgers, due to an increase in health warnings. Discuss the effects on the market. (6)
A decrease in supply (1) A decrease in demand (1) A reduction in overall market quantity (1) An indeterminable effect on price (1) Effect will depend upon relative size of the shifts (1) and the price elasticities of supply and demand (1).
