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Hi ,can you please help me with these two . 1) In the market for hula-hoops, the fact that supply and demand do not intersect
Hi ,can you please help me with these two . 1) In the market for hula-hoops, the fact that supply and demand do not intersect (or the intersection lies below the x-axis) means that even when the hula-hoops are free there is a (scarcity/surplus/shortage/equilibrium) of hula-hoops. When the mob of kids sees the little boy doing all sorts of tricks with the hula-hoop, this causes the ( equilibrium/ demand curve / supply curve/ market) to shift to the ( right/ left) which causes the ( supply to increase/ price to fall/ price to increase/ supply to fall). 2) Which determinant of demand or supply caused the change in the market for hula-hoops: which one would be the correct? a) consumer tastes and preferences b) the cost of production c). income of consumers d) price of a related good e) the level of technology. link : https://vimeo.com/194568795
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