Illustrate the tourism industry in florida prior

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Reference no: EM1355160

Do not attempt to draw the actual lines, but identify them by the numbers and letters in the attachment.

1. If lines 1 and 2 represent the suppply and demand for shrimp prior to the Gulf Oil spill and if the Gulf Oil spill is killing shrimp by the millions, show the new supply and demand lines if any and the new equilibrium point.

2. If lines 1 and 2 represent instead the tourism industry in Florida prior to the spill and potential tourists, rightly or wrongly, fear polluted waters and ruined beaches from the spill, show the new lines and equilibrium points after the spill.

Reference no: EM1355160

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