Answer to Question #264288 in Microeconomics for shi

Question

using supply-and-demand diagrams, show the effect of the following events on the market for sweatshirts.

a)A hurricane in South Carolina damages the cotton crop

b)The price of leather jackets falls

c)All colleges require morning exercise in appropriate attire

d)New knitting machines are invented

Answer 1

Solution:

The graphs are as below: