All of it is there. the question is high lighted in bold - that is it -
Question:
All of it is there. the question is high lighted in bold - that is it - I think it must be a graph needed?
Hi - I am unsure how to best answer a question like this, please demonstrate
Once the nature of coronavirus became apparent, health recommendations included
regularly washing hands with soap and water, or using hand sanitiser. Shortages of
hand sanitiser were common in supermarkets and pharmacies, both domestically
and overseas. To address these shortages local hand sanitiser producers added
overnight shifts to their production lines, and other companies, such as the Bellerine
Distillery, started making hand sanitiser.
Use the tools of supply and demand analysis to explain the sequence of events in the
hand sanitiser market that might have created a shortage. Specifically, identify which
of the determinants of demand and/or supply were affected. Explain the impact on
the market price and quantity as the market adjusts/reacts to the shortage, along
with the process of adjustment. Is the end equilibrium price likely to be higher or
lower than the initial equilibrium price? What about the final equilibrium quantity