supply and demand project
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Jesus is selling his own brand of hats named "Gora". His plan is to start off selling them at $5.00 per hat. He starts out with a quantity of 25 hats.
On the very first day of his launch for his hats, all 25 of his hats were sold! News of his hats spread around town and people were dying to get a Gora hat!
In order to match the increasing demand, Jesus ordered 50 more hats and raised the price to $10 in order to make more money
Although his business was doing well, Jesus wanted demand to keep going up. He started to set up an advertising campaign and met with executives of other companies to even make brand deals!
Although Jesus's company did well for some time, after a while the nation's economy went into a recession and Jesus had little demand with a ton of supply. He had a surplus of Gora hats!
In order to match the current decrease in demand, Jesus lowered his price back to $5 and lowered the supply of his hats
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