1. The California Water Shortage
... initial equilibrium in the market. Price and quantities are set as P1 and Q1 according to the point A demand curve insects the supply curve. The Change in Water Demand In recent years the demand for water is increasing, mainly caused by two factors. One is income. The per capita personal income of California is increasing from $43,211 in 2007 to $44,980 ... will cause an increase of demand of water. The other factor is population. A study from Wikipedia shows in recent years, the population of California has increased from 33.99 million in 2000 to 38.04 million in 2012, which naturally ...
- Word Count: 573
- Approx Pages: 2
- Has Bibliography
- Grade Level: High School