Question

1.) Using the line drawing​ tool, depict the effect of

a sharp freeze in Florida

on the market for

orange juice

.

Draw either a shift in the supply curve or the demand curve for

orange juice

.

Label your curve.

​2.) Using the point drawing​ tool, depict the new equilibrium price and quantity. Label your point​ 'A'.

Carefully follow the instructions above and only draw the required

objects.

An appendectomy is an operation to have your appendix removed. People who need an appendectomy will pay any price for the operation. Suppose that the demand curve for appendectomies is vertical.

There is a technological breakthrough that allows surgeons to perform appendectomies at a much lower cost.

​1.) Using the line drawing​ tool, depict the effect of the technological breakthrough on the market for appendectomies. Draw either a shift in the supply curve or the demand curve for appendectomies. Label your curve.

​2.) Using the point drawing​ tool, depict the new equilibrium price and quantity. Label your point​ 'A'.

Carefully follow the instructions above and only draw the required

objects.

Answer 1