Module 2 Discussion
Background
In Module 2 you are learning how the supply and demand model can be used to predict changes in the equilibrium price and equilibrium quantity of any good or service sold in competitive markets. The 3-step approach to changes in equilibrium is the method that you will apply in this assignment to make your theoretical predictions. Furthermore, you will compare these predictions with the information referenced in your chosen article.
Instructions
Getting started
Search the Internet using a search engine (such as Google) for a recent article that discusses a change in the price of a good or service sold in a competitive market. For example, search “price increase/decrease,” “price rise/drop“. Avoid articles that refer to a large market, such as an article referring to an increase in “food” prices. Instead, focus for example on the price rise of “eggs”, or “milk”, as specific examples of the large food category. Also, avoid articles about the stock market. Copy the URL address of the website the article was found.
Answer the following questions
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