include a cover page and a reference page with at least three resources, cited using APA citations. Page length requirements: 2–3 pages, not including cover page and reference page.
1. Identify two non-price variables such as customer income or demographics, advertising, prices charged for related goods or services, or interest rates that affect the demand for the products or services you identified in your selection.
2. How does each of the variables affect the quantity demanded?
3. Identify two non-price variables, such as wages paid to workers, energy cost, price of key inputs, or technology, that affect the supply of the products or services you identified in your selection.
4. How does each of the variables affect the quantity supplied?
5. Based on your analysis, describe the current market equilibrium for the industry.
6. Based on your analysis of the non-price demand and supply factors, what external conditions should managers be monitoring in order to predict future changes?