The response to the coronavirus pandemic has deeply damaged consumer demand in some US markets (such as airline travel and on-site restaurant meals), while other US markets have experienced expanded consumer demand.

As employees increasingly telework, and as students (K-12 and college) take classes online at home, the US demand for laptops has surged.

At the very same time, the capacity to produce and sell laptops was disrupted because of increased tariffs (taxes placed on foreign businesses) that were levied on the semi-conductor component resources needed to manufacture laptops.

Use a standard supply and demand analysis to predict the combined effects of these two events on the US Laptop Market.

oWhat is the direction of change for the US Laptop Supply curve? Why? What is the independent impact of this supply-side event on the equilibrium price and equilibrium quantity of laptops?

oWhat is the direction of change for the US Laptop Demand curve? Why? What is the independent impact of this demand-side event on the equilibrium price and equilibrium quantity of laptops?

oWhen we account for the effects of the both the supply and demand changes, what are the predicted net effects on the equilibrium price and quantity in the laptop market (increase, decrease or indeterminate), and why? Explain your logic completely.