On the right is a graph of the supply and demand for lobsters in August. Compare the equilibrium price and quantity of lobsters in August. Compare the equilibrium price and quantity of lobsters in August to the equilibrium price and quantity of lobsters in November.

sing the line drawing? tool, depict the supply and demand for lobsters in November. Label the new demand curve

?'DN' and label the new supply curve 'SN"

Using the point drawing? tool, depict the equilibrium price and quantity of lobsters in November. Label your point? 'N'. Part 4Carefully follow the instructions above and only draw the required

objects.

Econ 1101 Macro Principles-Lecture-Kelly-Spring 2024 Mallika Khurana ~ 02/01/247:18 PM () Homework: HW2: Changes Supply and Demand (eICE CLR TR Ad o L R I HW Score: 51.85%, 10.89 of 21 points Extended-Spring 202 Part2 of 3 @ Points: 0.67 of 2 |9 Lobsters are plentiful and easy to catch in August but scarce and difficult to catch in November. In addition, Q vacationers shift the demand for lobsters further to the right in August than in any other month. Market for Lobsters Given this information, we know that is/are higher in August than in other months. O\\ o only supply. o only demand. neither supply nor demand. Price O v both supply and demand. On the right is a graph of the supply and demand for lobsters in August. Compare the equilibrium price and quantity of o lobsters in August to the equilibrium price and quantity of lobsters in November. 1.) Using the line drawing tool, depict the supply and demand for lobsters in November. Label the new demand curve 'Dy' and label the new supply curve 'Sy". Quantity o 2.) Using the point drawing tool, depict the equilibrium price and quantity of lobsters in November. Label your point 'N'. Carefully follow the instructions above and only draw the required objects. X X Question Viewer Help me solve this Etext pages Get more help