NAME: Supply & Demand Analysis Activity For each scenarlo, show how the curve of Supply and Demand will change, the direction it would shift, and provide a detalled explanation of why the shift took...

Extracted text: NAME: Supply & Demand Analysis Activity For each scenarlo, show how the curve of Supply and Demand will change, the direction it would shift, and provide a detalled explanation of why the shift took place. Effect on Supply Effect on Demand WHY?? SCENARIO 1: Consumers hear that leather coats will double in price over the following month. What happens to the supply and demand of leather coats? SCENARIO 2: An article in the news advises travellers to avoid the Bahamas due to hurricane season. What happens to the supply and demand of vacation rentals in the Bahamas? SCENARIO 3: The price of butter goes up approximately $2.00 per 500 mL. What happens to the supply and demand for margarine? SCENARIO 4: Apple decides to discontinue ITunes in an effort to reduce piracy. What happens to the supply and demand of ITunes downioads? SCENARIO 5: Due to recent hurricanes, the price of o and gas will increase. What happens to the supply and demand of electric vehcles?