Homework Answers
The first market shift is the increase in demand for the copper and its products that causes the demand curve for copper to shift to the right. It will cause the equilibrium price of copper to increase in the market. The stated demand can increase when any research agency, can find out that use of copper, is going to decrease the health care issues. It will cause demand for copper to increase in the market. The second market shift is the negative supply shock of Copper where the supply of copper decreases and shifts to the left. It will also cause the price of copper to increase. It can happen when there is a political turbulence in the copper exporter country and it restricts the supply of copper. As a result, supply decreases and supply curve of copper shifts to the left.
Above two market shifts will cause prices of copper to increase.
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