This week you have learned how to build a supply and demand diagram, what factors influence supply and demand and how prices adjust as a result. This week you will research a recent news article (from within the past 6 months) that describes a market that has experienced a change in supply or demand.

Once you have chosen and read your article, please post your response including the following (be sure to include all of the threeelements below, with responses to the questions in full and complete sentences, for full credit).

1. Briefly describe the market covered in your article, the specific shift factor that influenced the market, and whether the change affects supply or demand. Ex: The article I selected is "Researchers Announce Eating M & M's Cures Baldness!" This describes an impact on the market for M & M's. This new research will likely lead to an increase in demand of M&M's as a result of a change in tastes and preferences. More individuals will want to buy M&M's now that they know it can cure baldness.
2. Use the graphing template (or your own graphing strategy) to diagram that demonstrates your market before and after this change. Label everything clearly on your graph including title (the name of the market), all axes, curves, equilibrium, clearly designating the "before" and "after." For example, if you were demonstrating an increase in supply, you would have two supply curves, supply (before), and supply (after). You may label equilibrium points e1 and e2. Check out the sample graph attached below.
3. If your market can adjust to this impact, describe how equilibrium price and quantity change as a result?