22. How the equilibrium price and equilibrium quantity would change in the following scenarios? First answer the question, then show the answer using supply and demand curves. a. Supply chain disruption has caused shortage in computer chips, which are used to make computers (obviously). The price of computer chips skyrocketed. How the equilibrium price and equilibrium quantity for computers will change? b. Due to the pandemic, Canadians start to prefer remote working, and are moving to cities with lower cost of living such as Winnipeg. How the equilibrium price and equilibrium quantity of houses will change in Winnipeg? (Assume the supply curve of houses in Winnipeg is vertical.) c. Canada has issued staying at home order and lock downs. Airlines are also forced to cut flights. How the equilibrium price and quantity of flights will change? d. Winter is coming and is colder than ever. Canada Goose, a winter clothing maker, finds a cheaper way to make winter clothing. How the equilibrium price and quantity of winter clothing will change?
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22. How the a. Supply chain disruption has caused shortage in computer chips, which are used to make computers (obviously). The price of computer chips skyrocketed. How the equilibrium price and equilibrium quantity for computers will change? b. Due to the pandemic, Canadians start to prefer remote working, and are moving to cities with lower cost of living such as Winnipeg. How the equilibrium price and equilibrium quantity of houses will change in Winnipeg? (Assume the supply curve of houses in Winnipeg is vertical.) c. Canada has issued staying at home order and lock downs. Airlines are also forced to cut flights. How the equilibrium price and quantity of flights will change? d. Winter is coming and is colder than ever. Canada Goose, a winter clothing maker, finds a cheaper way to make winter clothing. How the equilibrium price and quantity of winter clothing will change?
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