Sign up for FREE

The Pearl Exchange

Last updated almost 3 years ago

4 questions

1

1

1

1

Question 1

1.

What happened to demand or supply of pearls when the virus hit?

Question 2

2.

What happened to price and quantity? Draw supply and demand curves, including new supply or demand curves if necessary.

Question 3

3.

If the price stays at the original Eq, which would be greater? QD or QS? Draw the shifted curves again, label Qd and Qs, and and circle the answer.

Question 4

4.

Who competed in this situation and affected the price?