A
ambere
Guest
Whatever info you can impart please, I will be grateful for any clarification.
In an analysis of the market for paint, an analyst discovers the following facts:
a. There have recently been some important cost-saving inventions in the technology for making paint
b. Paint is lasting longer, so that property owners need not paint as often
c. Because of severe hailstorms, many people need to repaint now
d. The hailstorms damaged several factories that make paint, and forced them to close down for several months
For each of these changes (separately) show how it affects the supply curve or the demand curve, and how it affects equilibrium price and quantity.
Please help a brother understand and solve the problem. Thanks youuuuuuuuuuuu.
In an analysis of the market for paint, an analyst discovers the following facts:
a. There have recently been some important cost-saving inventions in the technology for making paint
b. Paint is lasting longer, so that property owners need not paint as often
c. Because of severe hailstorms, many people need to repaint now
d. The hailstorms damaged several factories that make paint, and forced them to close down for several months
For each of these changes (separately) show how it affects the supply curve or the demand curve, and how it affects equilibrium price and quantity.
Please help a brother understand and solve the problem. Thanks youuuuuuuuuuuu.