How does this affect the demand curve for peaches?

Imagine that baby diapers have an inelastic demand yet a new seller has come into the mark Show more Scenario Imagine that baby diapers have an inelastic demand yet a new seller has come into the market and now the quantity supplied has doubled. What happens to the equilibrium price of diapers? What happens to the quantity of diapers available in the market? How does this affect the demand curve for baby diapers? The supply curve? Scenario Now imagine that peaches have a unit elastic demand. Because of a recent cold spell in the south the quantity of peaches has decreased by half. What happens to the equilibrium price of peaches given the cold spell? What happens to the quantity of peaches available in the market? How does this affect the demand curve for peaches? The supply curve? Show less

QUICK QUOTE

Approximately 250 words