Name: Ambreen Murtaza Student ID: 20221-32341 Course: Business Economics (EC0408) Instructor: Syed Ammad All s Analysis Assignment Select any news which you think that may effect any product's market equilibrium, other than that product. Describe the effect of the selected news on other product market equilibrium using standard diagram of market equilibrium with explanation. Start with the News with complete Reference, properly labels the graph and mention for which market are you doing this analysis. SOLUTION: News Reference: https://tribune.com.ok; 2170996 /sanitiser-prices-rise-demand-surges Published on March 07, 2020 News: “Business > Sanitizer Prices to Rise as Demand Surges” Supply of raw material from China stops due to coronavirus threat Due to the Covid-19 and imposed restrictions on import of raw material from China, the demand of sanitizers proliferated and the price got increase in an exponential manner. ‘The price of sanitizers increased due to Covid-19 cases has increased by the day and it will lead to the shortage of the supply of sanitizers. Assuming, ial pce ofsantier Price, hange price of sanitizer “eh. Q4-= Initial quantity of sanitizer a= Change in quantity of sanitizer Qs = Demand Curve Qs = Supply Curve Shift in Supply Curve Due to the increase in price of sanitizers with demand remains constant, the supply of sanitizers has decreased and the supply curve shifts,Name: Ambreen Murtaza Student 10: 20221-32341 Course: Business Economics (ECO409) Instructor: Syed Ammad Ali Now considering, disinfectants as the substitute of sanitizers; the increase in price of sanitizers decreases the supply of sanitizers which will high the demand of disinfectants. Therefore, the decrease in supply of sanitizer will lead to the increase in demand of disinfectant and the demand curve shifts. Assuming, Qo = Initial quantity of disinfectants Pree. 4 = Change in quantity of disinfectants DieinFecland intial price of sanitizer Pi = Change price of sanitizer Qs Supply Curve Qu = Demand Curve Qe = Shift in Demand Curve wees enenesannsaanananensssonneesiThe Epttttetsoeesessessccsenssaanazeces