Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following scenarios. 1.The market for face masks in your country Scenario 1: The emergence of the COVID-19 pandemic. Scenario 2: An increase in the number of manufacturers of reusable masks. 2.The market for the iPhones Scenario 1: A new Samsung cellphone is released at a lower cost than the iPhone. Scenario 2: There is an increase in the price of iPhone accessories. 3.The market for blueberry muffins Scenario 1: More people become health conscious and realize the high sugar content of muffins. Scenario 2: The price of blueberries has increased

Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
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Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following scenarios.

1.The market for face masks in your country

Scenario 1: The emergence of the COVID-19 pandemic.

Scenario 2: An increase in the number of manufacturers of reusable masks.

2.The market for the iPhones

Scenario 1: A new Samsung cellphone is released at a lower cost than the iPhone.

Scenario 2: There is an increase in the price of iPhone accessories.

3.The market for blueberry muffins

Scenario 1: More people become health conscious and realize the high sugar content of muffins.

Scenario 2: The price of blueberries has increased

 

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