Please refer to this link for the background of the Gillette case study:

https://ucla-my.sharepoint.com/:w:/g/personal/sanketnikam_ucla_edu/EeZmFbjxgH5MgpOO4elDFE0BQmZgGVutwYS8oPB0koSJlQ?e=lTdQi4

Questions:

1. We are, as a society, becoming relaxed about facial hair. Too relaxed, if you are in the market of selling razors. Beards, mustaches, and scruffy looks are en vogue. The country is also getting less interested in pressuring women to keep themselves as hairless as infants seven days a week (Vox, 2018). Draw a graph with supply and demand curves to model the initial U.S. market for razors in 2000. Which curve(s) move(s) as the population becomes more relaxed about hair, and what happens to the price and quantity of razors? Show the answer graphically and describe it in words.
2. Razor manufacturing involves different steps, taking place in different countries across the globe. While observers believe that demand is "back to its pre-pandemic level," there are still many problems along the supply chains relevant for razor production. As compared with the pre-Covid world, which curve(s) move(s) as a result of these manufacturing problems, and what happens to the price and quantity of razors, all else equal? Show your answer graphically and describe in words".