Covid-19 backed by Lockdown generated many economic anomalies. The weekly change in the price of the mask in a town is given below. Time March 1 st week March 2 nd week March 3 rd week March 4 th week April 1 st week April 2 nd week April 3 rd week April 4 th week May1 st week Price (₹) 100 150 175 200 200 175 70 50 50 Forecast the Expected price of Mask for the 2 nd week of May. Strangely the Actual price of Mask in the city in the 2 nd week of May was 10 rupees. State at least four economic reasons why your calculated Expected price of Mask did not match the Actual price of Mask.

Covid-19 backed by Lockdown generated many economic anomalies. The weekly change in the price of the mask in a town is given below. Time March 1 st week March 2 nd week March 3 rd week March 4 th week April 1 st week April 2 nd week April 3 rd week April 4 th week May1 st week Price (₹) 100 150 175 200 200 175 70 50 50 Forecast the Expected price of Mask for the 2 nd week of May. Strangely the Actual price of Mask in the city in the 2 nd week of May was 10 rupees. State at least four economic reasons why your calculated Expected price of Mask did not match the Actual price of Mask.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter12: The Partial Equilibrium Competitive Model

Section: Chapter Questions

Problem 12.12P

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