Question

Synthesize Devise a fictional scenario in which advertising results in a shift in the demand curve for a product. Then, explain how the market reacted to re-establish equilibrium. I need the answer quickly please and thank you!!!!! I will give BRAINLIEST!!!!!

Answer 1

Answer:

Suppose that the product is tomatoes.

A new scientifc study from a renowned university finds that tomatoes are even healthier than thought before, and that they help prevent and treat diseases like diabetes.

Tomato producers quickly advertise these findings in new ads, which raises the demand for tomatoes, shifting the demand curve to the right.

This will cause the price of tomatoes rise as well, because demand is now higher. Suppliers will become more motivated to cultivate and produce more tomatoes than before because of the higher price, and in a relatively short time they will produce enough to meet demand, meaning that supply and demand will reach a new equilibrium under the new, higher price.

Answer 2

Let's pretend the product is tomatoes.

• Tomatoes are much healthier than previously assumed, according to a new scientific research from a prestigious institution, and they can help prevent and treat illnesses like diabetes.
• Tomato growers promptly publicize these discoveries in new advertisements, increasing tomato demand and pushing the supply curve to the right.

Because of the premium cost, suppliers will be much more motivated to plant and produce fewer tomatoes than it was before, and they will be able to fulfil demand in a relatively short period of time, implying that producers and consumers will find a new balance under the current, higher price.

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