Use this article from the ABC to help you answer the following questions.

A pdf copy of the article is available for download from MyUni if you can't link to the ABC.

(Note: Make sure that you provide sufficient explanation and use all the relevant course

terminology and course concepts.)

Coronavirus toilet paper stockpiling frenzy ignores our long

history without the soft stuff

By Emma Nobel. Updated Sun 15 March 2020 at 12:59pm

https://www.abc.net.au/news/2020-03-15/coronavirus-toilet-paper-on-sale-covid-19-

unlikely-history/12054636

a) Sketch a diagram (no specific numbers required) showing how the demand curve for

toilet paper in Australia shifted from January of this year to March. Explain the

reasons for this change, including a basic explanation of what a demand curve

represents. [3 marks]

b) What can you say about the likely cross-price elasticity of demand for "innovative

alternatives to toilet paper"? Give two examples of such alternatives - either

historical from this article or from the modern day. [3 marks]

c) The article describes only certain groups would have purchased toilet paper

historically. Explain what this indicates about the income-elasticity of demand for

toilet paper. [2 marks]

d) Explain who is likely to gain and who is likely to lose from the stockpiling frenzy?