00:01
So we have the demand and supply of potato chips.
00:05
So we're going to show the effect of a virus that destroys potato crops and decreases the quantity of potato chips produced by 3 million bags a week at each price.
00:16
So if we're talking about potato crops being destroyed, that's going to affect our supply.
00:26
So our supply is going to shift to the left.
00:33
So it says specifically we want to decrease the quantity produced by 3 million bags a week at each price.
00:43
So basically we're shifting to the left by the quantity 30 million.
01:04
So for example, at this point, the amount that we had was 130 bags.
01:13
So then if you're going to shift to the left by 30 million, we subtract 30 million and then we will end up at 100.
01:22
So then at this point on the new supply curve, we would be at 100.
01:30
So basically we shift every point to the left by 30...