1. Based on the above illustrations and what you learned about supply and demand in , which graph (A, B, C, or D) represents a decrease in supply? (10 points) 2. Based on the above illustrations and what you learned about supply and demand in which graph (A, B, C, or D) represents a decrease in demand? (10 points) 3. Let's say the price of Lexus has increased significantly, which graph (A, B, C, or D) represents what would happen in the market for Mercedes Benz? (20 points) 4. Let's say the price of computer chips has increased significantly, which graph (A, B, C, or D) represents what would happen in the market for computers? (20 points) 5. If we discover that red wine causes cancer, which graph (A, B, C, or D) represents what would happen in the red wine market? (20 points) 6. Let's say the price of steel doubles, which graph (A, B, C, or D) represents what would happen in the market for automobiles? (20 points) P P A C SUPPLY & DEMAND GRAPHICALLY ******** Q a P P B D a 0