Question
I need a few sentences reply for below questions along with a diagram. From your own words please: Explain if this TV advertisement program impact
I need a few sentences reply for below questions along with a diagram. From your own words please:
- Explain if this TV advertisement program impact the opioid demand, or the opioid supply, or both.
- What is the direction of the impact? A decrease in opioid demand (demand curve shifts to the left), or an increase in opioid demand (demand curve shifts to the right), or a decrease in opioid supply (supply curve shifts to the left), or an increase in opioid supply (supply curve shifts to the right)
3. Draw on the same graph the demand and supply curves and label the equilibrium points, prices, and consumptions before and after the TV advertising program is launched. You can review the graphs 7-12 of chapter 4 in drawing this graph.
4. Compare the old and new equilibria and draw conclusion on the impact of your recommended policy on the price and consumption of opioids. Your explanation should be in full sentences.
You can draw the graph on a piece of paper and scan or take a picture to be submitted with your answers.
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