Draw a hypothetical demand and supply curves for “egg cups” in Canada, and then graph and explain the following events and how they affect the equilibrium price and quantity of Canadian egg cups. 1.A successful advertising campaign by egg cup producers. 2.Technological improvement that led to an increase in the production of egg cups. 3.An increase in the price of eggs a compliment in egg cup consumption 4. An increase in the price of clay the main input in egg cup production 5. An increase in the demand for waffles a substitute in consumption of eggs. 2.Unemployment (show all work)1) Suppose that country a population of 120 made up of a labour force of 100 and 20 children under the age of 15, what is the participation rate? 2) Eight members of the labour force are unemployed. What is the unemployment rate 3) Of the eight unemployed 2 worked in a factory that produced VCR’s this factor has closed down and will never reopen. Describe what type of unemployment this is and why? 4) One of the unemployed cannot find a job and gives up looking. What is the new unemployment rate?5) With regards to the two unemployed factory workers described in part 3, what policies would a responsible government enact?
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