Question: Use the Supply and Demand model to answer the questions for each of the following examples. These examples require that both supply and demand shift

Use the Supply and Demand model to answer the questions for each of the following examples. These examples require that both supply and demand shift at the same time: Market for Office Furniture A global pandemic forces people to work from home. The government shuts down business for non essential businesses which includes fumiture manufacturers. Supply Shift (increase or decrease): Blank 1 Demand Shift (increase or decrease): Blank 2 Price (increase, decrease, indeterminate): Blank 3 Quantity (increase, decrease, indeterminate): Blank 4 Marker for Electricity Generators It is hurricane season and weather forecasts predict a series of category 5 hurricanes hitting our area. New technology has allowed prices on parts needed to build electricity generators to decrease. Supply Shift (increase or decrease): Blank 5 Demand Shift (increase or decrease): Blank 6 Price (increase, decrease, indeterminate): Blank 7 Quantity (increase, decrease, indeterminate): Blank 8
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