Describe what supply and demand graph would look like


Problem: Regarding the good or service discussed in the broadcast, describe what you think its supply and demand graph would look like (if you would like to draw the graph on paper and insert a picture of the graph that is acceptable). Critically think about this before answering, because, as they discuss in the broadcast, the market for this good or service differs from those we have discussed in class--in a very specific way. Think of all the vocabulary, concepts, principles, etc. studied in class thus far. Several of those are mentioned and described in the broadcast. Identify some of those concepts and describe how they are applied to the good or service discussed. Compare and contrast the way in which these terms and/or concepts are used in the broadcast vs. how you understand them from our class study. If a market can be described as "buyers and sellers coming together for an agreed upon exchange", is the good or service discussed in the broadcast a true market? Briefly explain. The activity described in the broadcast is legal, but if money were part of the transaction it would not be legal. What do you think would happen if it were?

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Microeconomics: Describe what supply and demand graph would look like
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