Now use a new graph for each question below to show what happens to the equilibrium price
and quantity for each of the following events. Make sure to include the initial supply (S1) and
demand (D1) curves with their corresponding initial equilibrium price (P1) and Quantity (Q1)
and then shift the Supply (S2) or Demand (D2) curve (not both) with the change in the
Price (P2) and the Quantity (Q2). DRAW A NEW GRAPH FOR EACH QUESTION. The
following questions/graphs should be in general terms, S1, S2, D1, D2, P1, P2, Q1, Q2. Thus
the graphs do not need actual numbers, similar to the PowerPoint lectures. Email me if you any
have questions. NOTE: This is what the midterm exam questions will be like and the graphs
are worth 1/2 the points.
2) candy stops heart disease
3) the price of chocolate increases
4) Tech. advances in how candy is made
5) we tax candy.