The table at the end of this problem gives hypothetical data for the quantity of electric scooters demanded and supplied per month.
a. Graph the demand and supply curves.
b. Find the equilibrium price and quantity.
c. Illustrate on your graph how an increase in the wage rate paid to scooter assemblers would affect the market for electric scooters.
d. What would happen if there was an increase in the wage rate paid to scooter assemblers at the same time that tastes for electric scooters increased?