1) Consider the market for each scenario below. Draw the curves i) beginning at equilibrium and then ii) show curve movement when the event(s) take place. lii) Note any changes in price P) or quantity (Q) -?, 1 or - and iv) list factor(s), if any, causing the shift(s). (6 x 3 marks-all parts must be correct and fully labeled for marks) P P P Price Price Price Q Q Q Quantity Quantity Quantity Market for Spam when the Reports that kidney beans Chocolate bars experience price of beef and pork will increase in price at the heavy competition led by skyrockets same time a beetle eats half Walmart and prices are Factor(s): the annual harvest. dropping in all stores. Factor(s): Factor(s): P P P Price Price Price Q Q Q Quantity Quantity Quantity Machinery for making gum Health concerns arise from Raw material costs drop for improves productivity while illegal "street" cannabis pasta while reports state popularity of chewing gum affecting legal cannabis. pasta is very healthy. decreases. Factor(s): Factor(s): Factor(s)