In your own words, respond to the following questions. Write detailed sentences to show how well you understand the concepts. Remember to follow the discussion forum guidelines. 1. Where was the equilibrium price and quantity before the shortage started? 2. Was this "shortage" due to an increase in quantity demanded? Or, did demand actually "shift" (remember your 5 demand shifters)? 3. Do you think the equilibrium price and quantity changed? Or, as the video showed us, did things return to normal (equilibrium) due to the market forces at work? 4. Did the price of toilet paper go up? Why or why not? Grading This assignment will count for 25% of your grade in this unit Toilet Paper Shortage Forum Assignment Point Criteria Element Value Initial Post The student has written a well-developed initial post, of at least the length, directed in the assignment. The 25 student has developed his or her thoughts fully and conveyed accurate information. The student has responded to another student as directed in the assignment, following Guidelines for Response to Responding to Another Student. The response constructively and positively critiques and analyzes the other Classmate's student's initial post, evaluating the argument and examples. The response post goes beyond agreement or 20 Post disagreement and explores what was learned from the post, expands on the post, or asks a relevant question regarding the post Timeliness The student has posted within the required time frame. 5