Explain how the shift of the curve affects equilibrium price and quantity.

Chapter 3 (Supply and Demand) – Written Assignment Surf the web and try to find a newspaper article about the equilibrium price of a good or service changing due to a shift in the supply curve or a shift in the demand curve (please use an original example that has not already been covered in the book, power points or videos). Using supply and demand analysis and information from the newspaper articles, explain what is happening in this market that is causing prices to change. There may be shifts in supply/demand or both curves that is affecting the equilibrium price and quantity. Try to keep it simple and find an news article in which only one curve is shifting. Explain how the shift of the curve affects equilibrium price and quantity. Please include a graph of the supply and demand model, showing what is happening in the graph according to the article. (You must use the Supply and Demand model that we covered in class here: no bar graphs, pie charts or time/trend graphs allowed). If you need help with the graph, I am here to help you, just send me an e-mail at mcummins@lbcc.edu or come and see me during my student office hours and I can help you. Written Assignment Instructions Written assignments must be about one page long (250+ words). You must answer the question in detail and include a supply and demand graph which reflects the scenario happening in your newspaper article. Written assignments will be graded using the same criteria as discussion forum assignments (see Grading Rubric in Discussion Forum). You must submit your Written Assignment in a Word, PDF, RTF or TXT file (.pages files are not accepted). You will be uploading your assignment to Turnitin.com in order to verify that there is no plagiarism in your document. If you have questions/need help, please do not hesitate to contact me at mcummins@lbcc.edu. Also, the article you use must be a recent newspaper article (you may not use an encyclopedia, Investopedia, Wikipedia article or anything from an encyclopedia-type economics website). You must do the analysis yourself. You may want to have a look at this Sample Written AssignmentPreview the document, which may give you a better idea of how to complete this assignment. Click here if you need help adding a graph to your documentPreview the document.