Find an article (and link it) in a recent newspaper or magazine which mentions a change in price or quantity in a market. Analyze the situation using economic reasoning. 

(1) Has there been an increase or decrease in demand? Factors that could shift the demand curve include tastes and preferences, income, price of related goods, or number of buyers in the market. 

(2) Has there been an increase or decrease in supply? Factors that could shift the supply curve include costs of inputs, in technology, number of sellers in the market. 

(3) Use a supply-and-demand diagram ( Don't have to show in the discussions) to explain the change in equilibrium price and quantity.

Answer rating: 100% (QA)

Suppose there has been a recent change in the price and quantity of smartphones in the market 1 Incr... View the full answer