Q Read the following article Chicken Shortage Sends Prices Soaring Download Chicken Shortage Sends Prices Soaringabout a shortage in the market for chicken. Pay attention to factors that have affected both Demand and Supply for chicken and how those factors have affected prices. Now, choose one of the markets* below and find a current article from a reliable news source such as The Wall Street Journal, New York Times, CNN, NPR, describing changes in the Demand and/or Supply of the product recently. • Housing • Online streaming services • Automobiles - new or used, gasoline-powered or electric • Health care • Gasoline/oil • Or choose something that interests you Using the information in the article that you found, discuss the following: 1. What factors led to the change in Demand and/or Supply? (REMEMBER! Price results in a change in Quantity Demanded or Quantity Supplied not Demand or Supply! Do not mention price as something that changed Demand or Supply unless it is the price of a related good.) 2. Did the change result in a temporary shortage or surplus? 3. Was a new equilibrium price/quantity established on the market? Note: Be sure to cite your article source in 7th Edition APA format. Need a refresher on 7th Edition APA Citation? Check out the Maryville Library Citation Help APA Style (7th Edition) Lib Guide.
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