(Solved): Read the scenario, and complete the questions. Scenario: In January 2009, Vaughan-Bassett, a manufa ...

Read the scenario, and complete the questions. Scenario: In January 2009, Vaughan-Bassett, a manufacturer of bedroom furniture, suspended work at its Elkin, North Carclina, plant, kaying off 400 work sales up by \( 10 \% \), the company reopened part of the Elkin plant to finish furniture produced at its main plant at Galax. Virginia. Vaughan-Bassett easily fow reopened plant. Answer these questions: 1. How do sales of new and existing residential housing affect the demand for furniture? 2. How would the appreciation of the Chinese yuan against the U.S. doflar affect the North Carolina furniture industry? 3. In the face of falling demand, how should Vaughan-Bassett decide between suspending ('mothballing") a plant and closing it permanently? 4. Using suitable, short-run demand and supply curves, illustrate the shifts in the market equilibrium between lanuary and September 2009. Submitting Your Assignment When saving your assignment, use: YourtastName, Firstinitial Assigninent Name, WkH fex Cox M. Essay, Wk5t 1. Click the Submit Assignment button. 2. Click the Choose File button and upload file.