Graph and Explain the Appropriate Shape of the Supply or Demand

question 69

Essay

Graph and explain the appropriate shape of the supply or demand curve for Jimmy's Jammin Jelly Beans when:
a. there is a hurricane that destroys most sugarcane fields.
b. a new candy vendor opens a shop in town.
c. Jimmy's Jammin Jelly Beans become the hottest item to have at parties.

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Definitions:

Toxic Waste Dump

A site for the disposal of hazardous materials that can pose a threat to health, safety, or the environment.

Clean Water Act

A significant United States federal law establishing the structure for regulating water pollution and aiming to maintain and restore the cleanliness of waters.

Wetlands

Areas of land where saturation with water is the dominant factor determining the nature of soil development and the types of plant and animal communities living in the soil and on its surface.

Regulatory Taking

A situation where a government regulation limits the uses of private property to such a degree that the regulation effectively takes the property, requiring compensation.