Clearly state what happened to the non-price determinants, what happened to supply and demand, and what happened to the price and quantity sold of the product as a result.
Price Elasticity of Supply & Demand: Find a newspaper/magazine article on an INDIVIDUAL PRODUCT whose PRICE and QUANTITY SOLD has changed. The summary should indicate why the price and/or quantity has changed by noting which non-price determinants of demand or supply have changed. The article must mention at least TWO non-price determinants that have … Read more