PDE Case 3 Soccer ball Industry in Pal X + X C File | C:/Users/User/Desktop/Zeti_Others/MBA/Semester%203/BB-5111%20Economics%20ME/Assignments/Case%203%20Soccer.. to Not syncing 4 of 4 Q 503 1. (Demand Shock) Suppose that the international market for soccer balls is perfectly competitive (It will be very highly competitive in fact.) Think of the following questions by combining graphs for market demand/supply and individual firm's output decision. a) Other things being equal, how could publicity about the use of child labor O impact demand for the soccer balls? b) How would it affect the equilibrium quantity and price of soccer balls in + the world market? c) How about each individual Parkistan's firm's quantity? d) How about Parkistani soccer balls' market share? e) Would Parkistan's firms shutdown in SR? What would its decision depend on? 2. (Supply Shock) In order to avoid problems internationally, the industry agreed to discontinue the use of child labor and also allow international involvement to insure compliance. Keep working on your diagram. a) How would it affect the shutdown decision by the Parkistan's firms as compared to #1? b) How does this change the world market for soccer balls? Would the price and quantity higher or lower than before the journalist's article? c) After all, would you conclude that the Pakistan's firms can no longer survive internationally? 3. Can you think of further issues to be discussed? Type here to search O 81OF ENG 3:16 PM v INTL 10/30/2022