October, 2022--Biden restricts US companies from helping China make semiconductor chips The Biden administration has imposed restrictions on semiconductors manufactured in China by U.S. companies. The administrations controversial plan bans U.S. companies from helping China manufacture advanced semiconductor chips used in military equipment that U.S. officials worry could be used against America. The President said: We have to protect the American people against China. Period. Full stop. The administration has also called on U.S. allies to issue similar restrictions.

A. Construct the market for semiconductors made in China by US companies, labeling supply and demand and equilibrium price and quantity with the subscript 1.

B. Make changes to the market consistent with information in the article, labeling new supply and demand and equilibrium price and quantity with the subscript 2.

C. Below the market, give an economic justification for changes in the market. September 2022--US diesel prices decline in September Diesel fuel prices declined an average of 50 cents in August. Diesel fuel is used to transport anything and everything across the US as semi-trailers clog interstate highways getting goods from suppliers to households. The drop in price is welcome news by produce suppliers who have been hard hit by high transportation costs in recent months.

D. Construct the market for fruit and produce, labeling supply and demand and equilibrium price and quantity with the subscript 1.

E. Make changes to the market consistent with information in the article, labeling new supply and demand and equilibrium price and quantity with the subscript 2.

F. Below the market, give an economics justification for changes in the market.