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supply or demand changes

a. Why do you think it is important for managers to understand the mechanics of supply and demand both in the short run and in the long run?
b. Give examples of companies whose business was either helped or hurt by changes in supply or demand in the markets in which they were competing.

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Econ Discussion
a. Why do you think it is important for managers to understand the mechanics of supply and demand both in the short run and in the long run?
b. Give examples of companies whose business was either helped or hurt by changes in supply or demand in the markets in which they were competing
Step 1
It is important for managers to understand the mechanics of supply and demand in the short run because during this period some of the factors of production are variable and some are fixed. For instance, it may not be possible to lay down new factories in the long ...

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