Question

1. With brick-and-mortar toy stores closing, board game manufacturers expect to have trouble finding as many consumers interested in their games. How will this affect the market for board games? Explain and illustrate with a correctly-labeled graph.
2. The lyrics of what proves to be the most popular song of the year mention a previously-obscure brand of jewelry. How would this affect the market for this brand? Explain and illustrate with a correctly-labeled graph.
3. How would a severe shortage of the phosphate necessary for fertilizer affect the market for produce (fruits and vegetables)? Explain and illustrate with a correctly-labeled graph.
4. If an online video streaming service significantly increased the cost of its monthly subscription rate, how would this affect the demand for its service? Explain and illustrate with a correctly-labeled graph.

Answer 1