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Part 1-

Microeconomics is often described as about the “little picture” as opposed to the big picture view of macroeconomics, but that view is over simplistic.

Here is an example from microeconomics even though it is definitely big picture. Consider the pandemic, which induced huge changes in consumer behavior. Take restaurants for example. Many restaurants closed, usually temporarily. Those that remained open suffered three big problems: customers feared catching covid from eating there and waitstaff worried about catching covid from working there. Chefs worried about supply-chain disruptions to food ingredients.

Show, using supply and demand graphs if possible, how these developments affected the restaurant business.