Using the Data Supplied, create a supply and demand graph for the product. Add axis titles and a chart title. How to Label Figures in APA Format
Describe the relationship and state the equilibrium. Discuss the importance of equilibrium. (Research required)
Research the product from an economic standpoint. Describe what has occurred with the product over the last year and future projections for the product. Select information pertinent to economics. This section must be ¾ of a page in length. (Research required)
Describe two scenarios in which this product’s demand and supply change. How do each affect buyers and sellers? Discuss implications of shortage and surplus given the current state of the product market and future forecasts. This section must be 1½ pages in length. (Research required)
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