Demand & Supply Analysis môn Kinh tế vi mô | Trường Đại học Kinh Tế Quốc Dân

Microeconomic – Individual assignment Nguyễn Hoàng Diệu Tú EBBA 13.1 Case 1:
1. An increase in the population of Baton Rouge increases the demand for
housing, shifting the demand curve to the right. The equilibrium price
increased from $130,000 (point a) to $156,000 (point b). Hurricane Katrina
generated a storm surge and levee breaks that flooded most of New Orleans
and damaged much of the city's homes, forcing 250,000 people to flee to
nearby Baton Rouge. This is a non-price factor that created rapid growth in
the population of this town, putting a strain on the needed amount, causing it
to skyrocket. As a result, the cost of a house will rise. ( The supply curve has moved to the right.) 2.
Five years after Hurricane Katrina, half of those who moved to Baton Rouge
returned to a restored New Orleans. Because the population has declined, so has
the quantity demanded. As a result, the cost of housing has decreased.
(The demand curve has shifted to the right of the preceding curve.) Case 2 Chart Title 1.4 1.2 1 0.8 0.6 0.4 0.2 0 Q1 Q2 S S' D
The decline of the bee population on the market (a non-price cause) caused the
decrease in the quantity of the supply of making ice cream. Therefore, the price of
those ingredients raised, making the price of producing ice cream increase. As a
result, the price of ice cream grew.