Managerial Economics

ind the attached book for further reading

Managerial Economics

Find an article or use an example from your own business experiences in which supply and/or demand changed. Do not choose the market for labor. The analysis for a labor market is different from a typical good or service.

Include each of the following in your initial post.

1. Explain which curve shifted and which shifter was affected. (If you think both curves shift, for simplicity, just choose one of the curve shifts to analyze.)

2. Discuss how equilibrium prices and quantities changed.

For your responses, help your classmates analyze their situation further or ask them questions about their scenario.

[Hint: Demand shifters are listed on pages 105-111 of your text. Supply shifters are covered on pages 116-119.

Please use the reading material as a reference and conduct this in APA Format and use intext citations. Needs to be 300 words or more.

Attachments area

vcampbethel.blob.core.windows.net_public_courses_ol_4020_unit_2_read2

Answer Preview

The supply curve shifted as a result of an increase in prices of the substitute good in this case coffee hence supply of the analyzed good will reduce. Therefore, the supply curve of the analyzed good shifts to the left due to a decrease in its supply while that of coffee shifts to the right since resources were shifted to produce more of the coffee hence more supply…

(392 Words)