its below graph anout economics

timer Asked: Feb 2nd, 2021

Question Description

I'm working on a economics question and need a sample draft to help me understand better.

Starting from an equilibrium situation, graphically show what happens to the supply and demand curves and the equilibrium price and quantity in each of the below situations. Prepare a new graph for each of the following scenarios:

a) Consider the Florida market for the sale of sweaters. What happens when there is an unseasonably long and very cold winter?

b) Consider the Florida market for the sale of grapefruit. What happens when an unseasonably long, cold winter ruins half of the grapefruit crop?

c) Florida has returned to a normal winter pattern of mild sunny weather, but much of the rest of the United States is experiencing a brutal winter weather, including huge amounts of snow and temperatures hovering below freezing in the months of October to April. How might this scenario affect the hotel industry in Florida?

This project can be done in either a group or individually.

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