Once the nature of coronavirus became apparent, health recommendations included regularly washing hands with soap and water, or using hand sanitiser. Shortages of hand sanitiser were common in supermarkets and pharmacies, both domestically and overseas. To address these shortages local hand sanitiser producers added overnight shifts to their production lines, and other companies, such as the Bellerine Distillery, started making hand sanitiser. Use the tools of supply and demand analysis to explain the sequence of events in the hand sanitiser market that might have created a shortage. Specifically, identify which of the determinants of demand and/or supply were affected. Explain the impact on the market price and quantity as the market adjusts/reacts to the shortage, along with the process of adjustment. Is the end equilibrium price likely to be higher or lower than the initial equilibrium price? What about the final equilibrium quantity? No graphs required.