Problem
A. A major flood this summer/fall destroys many cranberry fields in the major producing regions
B. The scientists in the University of Wisconsin - Madison Plant Genetics department discover a way to double the number of cranberries produced by each cranberry bush.
C. The American Nephrology Association announces that drinking cranberry juice can reduce the risk of kidney stones /failure among the elderly.
D. An increase the demand for Apple Cider Juice (it has chemical properties similar to Cranberry juice) raises the price of this product in the market.
E. The sub-population of the elderly population grows in the U.S. market
Identify the conditions which can result in the guiding function and the consequent impacts on equilibrium prices and output, changes in both the short run (rationing) and long-run (guiding) equilibrium prices and quantities before and after each event.