Find a news article of your choice describing a good or service (you may use articles from websites such as or ). Summarize the situation and identify what supply or demand shift factor is at work. Describe the effect on equilibrium price and quantity of the shift factor you identified above. Provide a copy of your article with your written assignment.
You need to use three paragraphs, a), b), and c) to cover the requirements for Writing Assignment 1.
For paragraph a), summarize the supply and demand situation from the article you have chosen. For paragraph
b),answer the second sentence in the excerpt above by talking about which supply or demand shift factor (from the AVP) you think best applies to the situation in paragraph
a) – use only one shift factor. For paragraph
c), answer the third sentence in the excerpt above by determining what affect the shift factor you chose in paragraph
b) has on the new equilibrium price and quantity sold, e.g., price increased and quantity increased due to an increase in tastes and preferences, a demand curve shift factor. Make sure you label the paragraphs shown above.
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