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Hello again! I am needing guidance once again. I have to explain demand, supply, and equilibrium. How do I do the following? Explain the difference
Hello again! I am needing guidance once again. I have to explain demand, supply, and equilibrium. How do I do the following?
- Explain the difference between a movement along demand and supply curves and a shift of demand and supply curves.
- What can cause the above situations? Provide an example for each.
- Describe how equilibrium is found.
- Describe how a shift of the demand or supply curve can affect equilibrium.
I chose the face mask industry and its impact. Can you please help me with the following?
- Define the current status of supply and demand for the product or service you identified.
- Identify at least one factor that has caused the supply curve to shift for that product or service.
- Identify at least one factor that has caused the demand curve to shift for that product or service.
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