Final answer:
To analyze the market demand for chicken wings, we can consider changes in consumption over time, taste preferences, and supply and demand dynamics.
Step-by-step explanation:
To analyze the market demand for chicken wings, we can start by looking at the changes in consumption over time. According to the U.S. Department of Agriculture, the per-person consumption of chicken rose from 48 pounds per year in 1980 to 85 pounds per year in 2014. This indicates an increase in demand for chicken.
We can also consider factors that affect the demand for chicken wings, such as taste preferences. Changes in taste can shift the demand curve for a good. In this case, movements in taste have shifted the demand curve for chicken wings rightward, resulting in an increase in the quantity of chicken wings demanded at every price.
Additionally, we can analyze the supply and demand dynamics for chicken wings. By looking at the hypothetical version of the demand and supply of sugar in Figure 34.4, we can understand how changes in price and quantity affect the market. Analyzing the factors that influence demand and supply can provide insights into the market demand for chicken wings.