Question

This week's City Council Scenario: Your local community is experiencing high prices for water usage. Identify one supply or demand shifting factor that the community could have some control over or do something about. Which curve would this shift and in which direction? Explain how this can achieve the goal of decreasing the price of the water

Answer 1

This question is an economics question that relates to the way demand and supply curves shift. The one factor that the community will have some control over over is their water usage.

How does water usage lead to a shift in the demand or supply curve?

When there is an abnormal increase in the use of a product, it means the demand for that product has shifted to the right.

One of the things that could be done to reduce demand and as such being down the price of water is by cutting down on waste. When wastage in relation to water is cut down, it will reduce demand.

Another factor that could lead to reduction or leftward shift in the price of water is if members of the community who can do so inward on projects that can increase water supply.

Learn more about shift in the demand and supply curve at:
brainly.com/question/12996057
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