Supply/demand paper
In this short paper you will analyze current Covid-related events in the context of two specific supply shifters. The first is “# of firms” and the second is “technology.” These will be considered separately. You will use tools from class and graphs in your analysis. Shutdowns, contraction of markets, and fear of infection are examples of things that affect the # of firms. As firms have adopted to the pandemic, they have transformed business models and innovated to change the way they conduct their money-making activities. This is an example of a technology change.
- Introduction.
- Summary of the #-of-firms event from a news media source. You don’t need to do a detailed summary, just what happened and why. But identify the source.
- Perform analysis of the event using a graph and predict what will happen to price and quantity at the new equilibrium relative to the initial one. The graph must be included in your paper.
- Summary of a technology event from a news media source. This can be a different event than that of 2. You don’t need to do a detailed summary, just what happened and why. But identify the source.
- Perform analysis of the event using a graph and predict what will happen to price and quantity at the new equilibrium relative to the initial one. The graph must be included in your paper.
- Summary/conclusion.
Other than identifying the media sources that cover your two events no outside research with citation and endnotes is required. This is your own original research. Writing style counts and you must use subheadings.
