Assume that the market for jeans is initially in equilibrium.
a)Draw a demand and supply diagram to illustrate the initial equilibrium.
b)Explain the impact on the market for jeans if consumers expect the future price for jeans to increase.
c)Graphically illustrate the impact on the diagram you prepared for part (a).

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The Answer of Assume that the market for jeans is initially in equilibrium.
a)Draw a demand and supply diagram to illustrate the initial equilibrium.
b)Explain the impact on the market for jeans if consumers expect the future price for jeans to increase.
c)Graphically illustrate the impact on the diagram you prepared for part (a).

Assume That the Market for Jeans Is Initially in Equilibrium