Watch the sequence of a movie shown below and in the answer box below,

Hudsucker Proxy, The (1994) Scene

Explain in a paragraph,using supply and demand vocabulary and concepts,what is happening in the marketby including the following:

1.What market was the producer trying to penetrate when sold the hula hoop idea to the store owner?

2.What law studied in the supply and demand topic would affect the sales of hula hoops due to what happened to prices in the movie?

3.Identify the determinant(s) of demand and supplythat are the cause of the problem in this market.

4. Identify the effect created on demand and/or supply and in the market price in this market.