3. Consider the market for large family saloon cars. For each of the events listed here, identify which of the determinants of supply or demand are affected. Also indicate whether supply or demand is increased or decreased. Then show the effect on the price and quantity of large family saloon cars.

a. People decide to have more children.

b. A strike by steel workers raises steel prices.

c. Engineers develop new automated machinery for the production of cars.

d. The price of estate cars rises.

e. A stock market crash lowers people’s wealth.