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Drawing supply and demands diagrams Demand, Supply and Equilibrium Question 1. For this question you will be drawing three supply and demand diagrams to illustrate

Drawing supply and demands diagrams

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Demand, Supply and Equilibrium Question 1. For this question you will be drawing three supply and demand diagrams to illustrate changes in the domestic market for face masks (ignoring international trade aspects) during the COVlD19 pandemic. 1a) Your first diagram should illustrate the domestic market for face masks both before the pandemic and also after the initial increase in demand. lb) Reproduce the diagram you drew for part (1a) and add to it to illustrate the impact of a reduction in the availability of raw materials. 1c) Now assume several domestic companies that weren't previously making face masks now start face mask manufacture. Redraw your diagram from part (1b) to illustrate this additional impact on the market for face masks. Specific Requirements for Part | Each of your diagrams must be fully labelled: both axes, all curves, all prices and quantities labelled on the axes and each equilibrium point. Each diagram must have a heading. Use letters such as P1 and Q1 or similar, rather than actual price and quantity numbers

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