Explain what happens to demand, supply, and the equilibrium price and quantity
for sweatshirts in each of the following:
a. A hurricane in South Carolina damages the cotton crop.
b. The price of leather jackets falls.
c. All colleges require morning exercise in the appropriate attire.
d. New knitting machines are invented.
for sweatshirts in each of the following:
a. A hurricane in South Carolina damages the cotton crop.
b. The price of leather jackets falls.
c. All colleges require morning exercise in the appropriate attire.
d. New knitting machines are invented.