Question
please help a. Explain how the COVID pandemic has affected supply and demand and the components that comprise / affect supply (e.g., labor) and demand
please help
a. Explain how the COVID pandemic has affected supply and demand and the components that comprise / affect supply (e.g., labor) and demand and note the aftershocks (that is, what effects have persisted).
b. if supply and demand determine price such that, if there is a shortage, higher prices ration the limited supply, why do we still find empty shelves at the grocery store and have sometimes long lead times for capital items (e.g., a new truck)? If I am, for example, willing to pay more at the grocery store for toilet paper, why doesn't the grocery store charge more so that there is some on the shelves?
c. Can the persistent aftershocks be considered a government failure? That is, could the government have taken action to avoid many of the persistent economic challenges and what might this action have been?
d. With just the information you have from the article and your own outlook developed overtime, should Ms. Raz open another shop this year? Why or why not?
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