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1. a. (3 pts. each) Use four separate supply and demand diagrams to illustrate the effects of the following possible shocks on the equilibrium price

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1. a. (3 pts. each) Use four separate supply and demand diagrams to illustrate the effects of the following possible shocks on the equilibrium price and quantity of avocados. In each diagram clearly indicate the initial equilibrium price and quantity with a P, and Q, and the new equilibrium price and quantity after the shock P, and Q,. A.) Farmers produce genetically modified avocado plants which allow for greater output without increasing costs. B.) A major scientific study shows that people who regularly consume avocados live on average seven years longer than those who don't consume avocados. C.) There is a large increase in the price of tomatoes, which is a complement of avocados. D.) There is a significant increase in the price of water in California, where most U.S. avocados are grown. 1b. (4) The following article describes recent changes in the market for avocados: https://cnb.cx/3/seXp8 (the pdf is also in the assignment folder titled "Avocados Mexican Import Ban") Which of the market changes above is

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