How do I approach the question below Assume that a perfectly competitive hand sanitiser market is in long run equilibrium The price of hand sanitisers is observed to increase during the COVID 19 pandemic, and then it returns back to its normal price after the pandemic Use the diagram below to discuss this market before, during and after the pandemic Include in your discussion the profit levels in each case Assume that a perfectly competitive hand sanitiser market is in long run equilibrium The price of hand sanitisers is observed to increase during the COVID 19 pandemic, and then it returns back to its normal price after the pandemic Use the diagram below to discuss this market before, during and after the pandemic Include in your discussion the profit levels in each case

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Question: How do I approach the question below. Assume that a perfectly competitive hand sanitiser market is in long-run equilibrium. The price of hand sanitisers is

How do I approach the question below.

Assume that a perfectly competitive hand sanitiser market is in long-run equilibrium. The price of hand sanitisers is observed to increase during the COVID 19 pandemic, and then it returns back to its normal price after the pandemic. Use the diagram below to discuss this market before, during and after the pandemic. Include in your discussion the profit levels in each case.

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