- Evans, Pete. “We'll all be paying a lot more for food next year, says Canada's Food Price Report” CBC News, 09, December 2021, https://www.cbc.ca/news/business/food-price-report-charlebois-1.6277590
For the market of (1) Dairy and (2) Baked food, list the events that change the demand and/or supply. Apply the four-step procedure to analyze how these events change the equilibrium price and quantity in these two markets. Please show your answers graphically. (5 points)
Graphs: Explanation:
(1)
(2)
- Alyse Kotyk, “Home sales in Metro Vancouver reached record high in 2021, latest real estate report says” CTV News, January 5, 2022. https://bc.ctvnews.ca/home-sales-in-metro-vancouver-reached-record-high-in-2021-latest-real-estate-report-says-1.5728497
List the events that change the demand and/or supply of the Vancouver housing market. Apply the four-step procedure to analyze how these events change the equilibrium housing price and quantity. Please show your answers graphically. (5 points)
Graph: Explanation: - “The perils of air travel right now -- and a silver lining.” Marnie Hunter, CNN, 5th January 2022, https://www.cnn.com/travel/article/air-travel-omicron-cancellations-fares-2022/index.html.
List the events that change the demand and/or supply of air travel. Apply the four-step procedure to analyze how these events change the equilibrium price and quantity. Please show your answers graphically. (5 points)
Graph: Explanation:
- “Betting on Ethanol, Brazilian Mills Turn Sour on Sugar.” by Ana Ionova and Marcelo Teixeira Reuters, 3 December 2018, https://www.reuters.com/article/us-brazil-ethanol-insight/betting-on-ethanol-brazilian-mills-turn-sour-on-sugar-idUSKBN1O20L7
List the events that change the demand and/or supply of ethanol. Apply the four-step procedure to analyze how these events change the equilibrium ethanol price and quantity. Please show your answers graphically. (5 points)
Graph: Explanation:
Sample Solution