Read the article written by Georgie Marr "Tasmanian Supermarkets Face Egg Shortage with Prices Predicted to Rise" published in Hobart News dated 20th April 2022.

Then answer the following question

1. Using the demand and supply model, explain and illustrate graphically, why Tasmanian supermarkets are predicting the price rise of eggs. (Make sure to discuss the equilibrating process, and clearly outline the assumptions in discussing the factors causing the change in price and quantity).

The framework for the answer should be to:

Identify the key issue in the questions provided

Analyse these key issues in the news article,

Use the appropriate economic model to illustrate the key issues graphically. Fully label the model and clearly indicate where changes occur

Explain the model and discuss the outcome Provide the list of references used in answering the questions.