Illustrate the following with supply and demand curves:

a. In November 2018, Edward Hopper’s iconic painting Chop Suey was sold for $91.9 million at the British auction house Christie’s.

b. In August 2015, the Global Dairy Trade (GDT) Price Index was 514, down from 880 a year before. This was primarily due to the fact that supply had increased during this period.

c. In 2017, the global demand for solar photovoltaic (PV) power was about 85 gigawatts. Its contribution to total electricity generation grew from 0.01 percent in 2004 to 0.79 percent in 2014, increasing the number of solar power plants during this period. The overall result was a drop in the average cost of solar power and an increase in the amount of electricity generated from $500 per megawatt hour (MWh) in 2010 to $200 per MWh in 2015.