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In 2021 and 2022 there was a nationwide shortage of truck drivers in the United States. (a) On a graph showing the demand and supply
In 2021 and 2022 there was a nationwide shortage of truck drivers in the United States. (a) On a graph showing the demand and supply curves of truck drivers, please show a price at which there would be a shortage of truck drivers. You may assume that the price being referred to here is the wages of truck drivers. (b) What impact do you think the shortage of truck drivers had on the demand and supply curves of goods that are transported using trucks? Please show the impact on a graph of the demand and supply curve of these goods (do the curves shift, and if they do, in what direction) and show what happens to equilibrium price and quantity of these goods. Please give an explanation
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