The Hudsucker Proxy

After watching The Hudsucker Proxy clip, discuss the following:

a) What shift factor was at play in this scene?
b) How did it affect the equilibrium price and quantity?
c) Think of a time in your life where your demand was impacted by a shift factor and describe it using the economics we have covered.

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*The video is in the module content.

When answering this discussion question, please ensure you answer all three parts of the question. Label each part as shown in the question as a paragraph. You don’t have to copy the question, though. In paragraph a), all I need is the name of the shift factor and why you picked that shift factor. For paragraph b), I want you to talk about how the shift factor affected the supply and/or demand curve initially and then after the boy found the hula hoop; then determine what happened to the equilibrium price and the quantity purchased initially and after the boy found the hula hoop. In paragraph c), I want you to identify a product and explain how one of the supply or demand shift factors affected the appropriate curve. Each student needs to pick a different product. Answer the following question also: did your change in demand or your change in supply affect the equilibrium market price for the product? As mentioned above, you must have three paragraphs, a), b), and c), in answering this discussion question. As usual, I will make some comments concerning your post. Make sure you spell check and reread your submissions prior to posting them to catch wrong words, spelling errors, and grammar errors