ECON 2105 Principles of Macroeconomics Module 5 Drop box Assigament 1 Learning Objective: To describe graphically how shifts in demand and supply affect market ‘outcomes. Complete the following assignment and submit using the drop bos. Feel free to print this out, complete it, sean it, and submit it a In the first paragraph of the article is states “Organic and cage free eggs are becoming popular to the ppoint that some majo grocery chains ate reporting shortages.” This is a good example of changing consumer preferences for these goods shifting the demand curve to the right. Mlustrate in a graph using supply and demand how an increase in demand could lead to a shortage. CAS Freee boos | IN \ $0 TE Dewar WoRaIsES The eH CeeaN eea Wie BS & SheeTave (ay7&,) UNTIL PCIE ADI % | Se To We Noo CHR Brave b a @) Elsewhere it states that another reason for a shortage of strawberties was poor weather. Ina sepatate graph of the strawberry marker, illustrate how this could lead to a shortage. wemes TEs Ec sare a stanraee (4,7 &s) wu ¢ z Waste Bee AWIWSTS TE THE se Pe FULL BRUM LEV &) ‘The article also states that “...as the basic theory of economics goes, less supply drives up prices.” Thustrate this in 2 graph of the cucumber market. $1 e wo r A So dareeererars Co ae ys de ke dacren: turands Veh te a? el fh. iw ses eenesol g rN © shosteye gk wit BITS gee BY RON SE v