Q Search on Too. In the News Assignment #1 Find an article that was published this year that discusses a price change of a product due to either a shift in demand or a shift in supply. The article should thoroughly describe the reason(s) for this change in price. The product should be in a competitive market where there are many buyers and sellers, and prices are determined by the interaction of supply and demand in the marketplace. Some examples could be beef, housing, or wheat price changes. Your article must come from a credible news source. Avoid articles from academic journals. Graphs, tables, or illustrations cannot be sourced and must be created by the student. Upload your submission in Moodle before the due date to avoid late penalties. Do not use an article that discusses changes in the price of a financial instrument such as stocks, futures, or options. Based on your article, thoroughly address the following questions using course concepts: 1. Is the price changing because of a change in supply or demand? Explain the reasons for this price change as described by the article. Use a well-labeled supply and demand graph to illustrate what has happened in the market for this product. Note: you do not need to provide specific prices or quantities. 2. Would you consider this product to have inelastic or elastic Price Elasticity of Demand? How about the Price Elasticity of Supply? Explain your reasoning. Note: you do not need to calculate elasticity but rather demonstrate your understanding of the concept. 3. How would the elasticities change in the long run? Contrast, using two graphs, the size of the impact the change in price would have on price and quantity 1) in the short run 2) in the long run. The government decides to intervene in the market to control the price. Would the government + want to protect buyers or sellers in this case? Using a graph, illustrate the impact a binding intervention would have the quantity demanded and quantity supplied in the market. Describe the possible consequences that may occur because of the market intervention. Your submission must include 2 separate files. 1. Your chosen article .pdf format of the article in its entirety by printing to PDF or scanning the article. b. Your article will not be considered as submitted if you only include a link