Draw a market for portable generators in equilibrium.

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Reference no: EM13744198

Not too long ago Hurricane Sandy hit the northeast portion of the United States, causing serious and costly damage. Given what you've learned this week, what can we conclude probably happened to the price of portable generators? To the price of food? Don't do any research to determine what someone else thinks about this question. Just apply the principles of supply and demand you learned this week. Explain your answers graphically. Just get a pencil and paper and draw a market for portable generators in equilibrium and then show the changes you want to make. Do the same for food. Explain to your group members what you have concluded and why. Explain how you drew your graph too. How did you label the axes? How did you find equilibrium? What curve(s) shifted, if any, which direction did they shift and why? If it's easy to attach a copy of your graph for your group members to see, feel free to do so. This is not a requirement, though. You must be able to verbally explain how you drew your graphs.

Reference no: EM13744198

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