In October 2016 Thailand plunged into grief by the death of King Bhumibol Adulyadej. He reigned as a deeply revered figure for 70 years. After his death, was a drastic increase in demand for black clothing. The government has responded by announcing that price-gougers could face fines of up to 140,000 baht ($3,900) and seven years in jail if they increased the price of black clothing.

Using appropriate diagrams, discuss the impact of this policy, as well as its' repercussions.