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Consider the market for laptops during 2020, after the COVID pandemic began. For each of the following scenarios, graph how supply 1 and/or demand will
Consider the market for laptops during 2020, after the COVID pandemic began. For each of the following scenarios, graph how supply 1 and/or demand will shift, and indicate how this will impact the equilibrium price and quantity of laptops sold in the U.S. (a) The government provides most U.S. adults with a $1,200 stimulus check. (b) A global semiconductor shortage causes the price of semiconductors, a crucial component used in laptops, to rise dramatically. (c) The government provides most U.S. adults with a $1,200 stimulus check. At the same time, a global semiconductor shortage causes the price of semiconductors, a crucial component used in laptops, to rise dramatically. (d) A large percentage of the U.S. workforce begins to work from home for the duration of the pandemic. At the same time, laptop companies develop new software that lets the machines in their factories make twice as many laptops in a day
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