NY Gov. Reveals State Hand Sanitizer Amid Price Gouging, COVID-19 Fears.
Questions
- Who produces Corcraft Products?
- Do COVID-19 fears change the demand for hand sanitizer or the supply of hand sanitizer or both?
- Given your answer to #2, why does the price of hand sanitizer rise? Include in your answer a discussion of the change in quantity demanded and the change in quantity supplied.
- What will be the effect of the production of sanitizer by Corcraft Products on the market for hand sanitizer?
- Draw a diagram to illustrate the effect of COVID-19 and production by Corcraft Products on the market for hand sanitizer.