use the supply and demand diagram to explain the impact on at least two other markets affected by the butter shortage and where the equilibrium…
use the supply and demand diagram to explain the impact on at least two other markets affected by the butter shortage and where the equilibrium outcomes are different. In your discussion specify your assumptions and explain the equilibrating process in the related market(s) in terms of the new equilibrium output and price and how they differ.
substitutePRICE a) S1 PE2 PE1D2 D1QE1 QE2 Q compliment b) PRICE S1 PE1 PE2D1 D2QE2 QE1 Q
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