Question
I am trying to understand how to draw a supply and demand curve, and when to shift the demand or supply. these are the example
I am trying to understand how to draw a supply and demand curve, and when to shift the demand or supply.
these are the example questions (I need to understand the raionale)
Explain each of the following statements using supply-and-demand diagrams.
a.When a cyclone hits Queensland, the price of bananas rises in supermarkets throughout thecountry.
b.On Tuesdays, cinemas discount tickets.
c.When a war breaks out in the Middle East, the price of petrol rises and the price of a usedSUV falls.
And the finale Question
Consider the following events: Scientists reveal that eating oranges decreases the risk of
diabetes, and at the same time, farmers use a new fertiliser that makes orange trees produce
more oranges. Illustrate and explain what effect these changes have on the equilibrium price and
quantity of oranges.
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