Question
During the coronavirus/COVID-19 crisis, panicking households hugely increased their demand for toilet paper resulting in a shortage. According to the demand-supply model, we should have
During the coronavirus/COVID-19 crisis, panicking households hugely increased their demand for toilet paper resulting in a shortage. According to the demand-supply model, we should have seen a substantial rise in the price of toilet paper in supermarkets. Yet this did not occur. Why did the demand-supply model make such a poor prediction?
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Using Econometrics A Practical Guide
Authors: A. H. Studenmund
7th edition
013418274X, 978-0134182742
