SUPPLY AND DEMAND ANALYSIS 1. A. Draw a Demand Curve for a product of your choice. B. Explain what is going on with prices and quantity demand on the curve. Include what happens when the price of the good changes as opposed to when one of the determinants of demand changes. 2. A. Give an example of 2 substitute goods. B. Describe and show on a demand graph what happens to the demand for the substitute when the price of the original good falls. 3. A. Draw a Supply Curve for a product of your choice. B. Explain what is going on with prices and quantity supply on the curve. Include what happens when the price of the good changes as opposed to when one of the determinants of supply changes. 4. A. Draw demand and supply curves, showing the equilibrium points. B. Show and explain what happens to equilibrium Price and Quantity when a positive change occurs to a determinant of Supply. (For example, assume the cost of inputs substantially declines.) C. Show and explain what happens to equilibrium Price and Quantity when a negative change occurs to a determinant of Demand. (For example, assume the beef consumption is deemed to be unhealthy.) File Upload Google Drive (LTI 1.3) Office 365 Studio Upload a file, or choose a file you've already uploaded