Hi, i need in depth information to these two questions. https://amp.triplem.com.au/story/tasmanian- supermarkets-face-egg-shortage-with-prices- predicted-to-rise-198136 1. Using the...

  

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Hi, i need in depth information to these two questions. https://amp.triplem.com.au/story/tasmanian- supermarkets-face-egg-shortage-with-prices- predicted-to-rise-198136 1. Using the demand and supply model, explain and illustrate graphically, why Tasmanian supermarkets are predicting the price rise of eggs. (Hint: Make sure you discuss the equilibrating process, and clearly outline the assumptions in discussing the factors causing the change in price and quantity). 2. Use the derterminates of price elasticity of demand to analyse whether the demand for 'Eggs' is likely to be price elastic or inelastic. 3. Based on your analysis in question 2, explain and illustrate graphically what will happen to the total revenue of the eggs industry following the change in equilibrium price of eggs. Hi, i need in depth information to these two questions. https://amp.triplem.com.au/story/tasmanian- supermarkets-face-egg-shortage-with-prices- predicted-to-rise-198136 1. Using the demand and supply model, explain and illustrate graphically, why Tasmanian supermarkets are predicting the price rise of eggs. (Hint: Make sure you discuss the equilibrating process, and clearly outline the assumptions in discussing the factors causing the change in price and quantity). 2. Use the derterminates of price elasticity of demand to analyse whether the demand for 'Eggs' is likely to be price elastic or inelastic. 3. Based on your analysis in question 2, explain and illustrate graphically what will happen to the total revenue of the eggs industry following the change in equilibrium price of eggs.

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