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Source A

By March 4, 2022No Comments

Source ASource BRegular physical activity benefits both theThe Covid-19 pandemic forced 151 gyms in Hongbody and mind.It can reduce high bloodKong to close last year,but 365 opened,withpressure,help manage weight and reduce theoperators taking advantage of cheaper rentsrisk of heart disease,stroke,type 2 diabetes,and catering to a surge in fitness enthusiasts.and various cancers all conditions that canincrease susceptibility to COVID-19.(a)Consider the information of source A only,use a demand and supply analysis to explain theeffects on the equilibrium price and equilibrium quantity of the fitness center market inHong Kong.No demand-and-supply diagram is needed but you need to describe how thecurve(s)shifts in your written explanation.(b)(Consider the information of source B only,use a demand and supply analysis to explain theeffects on the equilibrium price and equilibrium quantity of the fitness center market inHong Kong.No demand-and-supply diagram is needed but you need to describe how thecurve(s)shifts in your written explanation.(c)To consider both the effects in part (a)and (b)above,what are the combined effects on theequilibrium price and equilibrium quantity of the fitness center market in Hong Kong?Why does the fitness center market in Hong Kong have the observation of decreased pricebased on the two pieces of information?Illustrate with a demand and supply diagram.

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