Answer
a) Damaged crop -> increased input prices. Supply will decrease, resulting in higher price and lower quantity of sweatshirts.
b) Leather jacket = substitute. Price of leather jacket falls -> Decrease in demand for sweatshirts and subsequently its price and quantity
c) Need for appropriate attire -> Increase in demand for sweatshirts, resulting in higher price and quantity
d) Improved technology -> Increase in productivity -> Increase in supply, lowering price and increasing quantity
Work Step by Step
Refer to diagram for effects of increase/decrease in demand/supply
