ProductsEventMarket forEconomic growth is expected to impro

ProductsEventMarket for:Economic growth is expected to improve in the next two quarters.AluminumFire at an oil refinery in the Gulf will not be fixed for a month.GasolineThe Japanese government has decided to subsidize its domestic automobile producers with stimulus money.AutomobilesManufacturers who use plastic as an input have access to cheaper plastic.Manufactured goods that use plastic as an inputUsing the table, for each line item, write a paragraph describing how the market for each specific product will be affected by the associated event. Describe which curve will shift (demand or supply or both), what effect it will have on price (rise or fall in price), and what will happen to quantity (rise or fall in quantity). Each line item requires a paragraph.Right here below is an example for the assignment:BA 201 Week 2 Supply and Demand AnalysisAssignment: Example.ProductsEventMarket for:The price of hamburgers has risen; thedemand curve (demand) for hot dogs has shifted to the right.Hot Dog BunsBelow is an A+ answer (with pagereferences) to the Hot Dog Bun question. Please use this format for the four questions in this assignment.First, a price change is the market response to changing marketconditions.  When these conditionschange, they will cause a shift to the left or right of a specific demand curve=a specific demand schedule=demand.These conditions that cause a shift in demand are the six conditions describedon pages 47-50 (and repeated in the Thumbnail Sketch at the top of page 51) inyour book.  Or, theywill cause a shift to the right or left of s specific supply curve=a specific supply schedule=supply. These conditions that cause a shift in supply are the four conditionsdescribed on pages 56-57 (and repeated in the Thumbnail Sketch at the top ofpage 57) in your book.Here isthe A+ answer to the above question:The market is HotDog Buns.  Begin your analysis bydrawing a supply and demand diagram similar to the one in Exhibit 11 on page 60in your book (do not include the consumer and producer surplus in yourdiagram). This will allow you to shift the correct curve as shown in your book.The price of hamburgers increases and sincehot dogs are a substitute for hamburgers, the demand curve (demand) for hot dogs increases(shifts to the right.  Since hot dog buns are a complementto hot dogs, this causes the demandcurve (demand)for hot dog buns to increase(shift to the right).This shift will result in a new equilibrium price and quantity for hot dogbuns: the price will increase and the quantity demanded and supplied willincrease.Grading Rubric for Week2 Written AssignmentNote:  Words are criticalwhen describing supply and demand analysis. My grading rubric is below:Which curve shifts?  Demand or supply?  (10 points)In which direction. Left orright?  (5 points)What happens to equilibriumprice?  Increase or decrease? (5 points)What happens to equilibriumquantity?  Increase or decrease?  (5points)Both curves NEVER shift at the same time due to a change in an economicfactor.  They are independent of eachother.  These factors are on page 51 for shifts indemand and on page 57 for shifts in supply in your book.

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