Our lives have been totally disrupted by COVID 19 for 2 years now. People were laid off, companies were told to close and many people are still working from home. In this paper I want you to discuss the impactreopening our economy had on supply and demand for a particular Canadian product.Remember, that in microeconomics we don't talk about an entire economy. The impact on GDP, unemployment and interest rates are macroeconomic topics, not microeconomic topics.

Choose a particular Canadian product to answer all of the following questions.Please remember this is an individual assignment not a group assignment.When answering these questions, you need to conduct research to back up your opinion.

Draw the demand and supply curves for GASOLINE before COVID 19.Indicate, using clear lines, labels and arrows, what direction demand and supply moved when the economy shut down due to the pandemic. Draw a third set of lines, labels and arrows showing what happened to supply and demand now that reopening has happened. You do not have to make up numbers, but you need to accurately label demand, supply and equilibrium, for the original market, the market during COVID 19 and the future market now that we are reopening. In each case, point out the equilibrium. All three stages should be on the one graph. In your commentary, explain what happened in each of the three cases, i.e. did demand and supply increase or decrease? Why did this happen? Did the equilibrium increase or decrease? Why did this happen? Back up your opinion with research.