Answer to Question #38371 in Microeconomics for fifi
b.) Given the products below and the events that affect them, indicate what happens to demand or supply, and the equilibrium price and quantity. Identify the determinant of demand or supply that causes the shift and show the shifts graphically for each example.
i. Blue jeans. The wearing of blue jeans becomes less fashionable among consumers.
ii. Computers. Parts for making computers fall in price because of improvements in technology.
iii. Lettuce. El Nino produces heavy rains that destroy a significant portion of the lettuce crop.
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