1) please illustrate these events in the copper market in the demand-and supply diagram and also label.   2) also draw the new equilibrium and label it properly please

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Early in​ 2011, the world price of copper reached a record high of over ​$10,000 per tonne. Two events appeared to lie behind this high price.​ First, China's rapid economic growth and the massive building of infrastructure.​ Second, an explosion closed a major Chilean port used for shipping a substantial fraction of the​ world's copper output.

Use a​ demand-and-supply diagram to explain how each event shifts either the demand curve or the supply curve.

 

1) please illustrate these events in the copper market in the demand-and supply diagram and also label.

 

2) also draw the new equilibrium and label it properly please

Price
Copper Market
Quantity
So
Do
Transcribed Image Text:Price Copper Market Quantity So Do
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