13. Supply and Demand Consider the following events: Researchers shows that eating lobsters increases the risk of heart attack, and at the same time, there is a new regulation that limit the number of lobsters people can fish. Show the effect of these two events on the market for lobsters. (? ) O Supply Demand Supply Price of Lobsters Demand Quantity of Lobsters When the demand curve and supply curve shift in the directions indicated on this graph, you can be certain about the effect on without knowing the magnitude of the shifts.Consider the market for minivans. Assume minivans are a normal good. For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the "None" option under the "Supply Determinant" column. Event Demand Determinant Supply Determinant People decide to have more children. A strike by steelworkers raises steel prices. Engineers develop new automated machinery for the production of minivans. The price of sports utility vehicles rises. A stock-market crash lowers people's wealth. Show the effect of the following event on the market for minivans: People decide to have more children. O Supply Demand Supply Price of Minivans DemandShow the effect of the following event on the market for minivans: A strike by steelworkers raises steel prices. (? Supply Demand Supply Price of Minivans Demand Quantity of Minivans Show the effect of the following event on the market for minivans: Engineers develop new automated machinery for the production of minivans. (?)minivans. (? O Supply Demand Supply Price of Minivans Demand Quantity of Minivans Show the effect of the following event on the market for minivans: The price of sports utility vehicles rises.Show the effect of the following event on the market for minivans: A stock-market crash lowers people's wealth. O Supply Demand O Supply Price of Minivans Demand Quantity of Minivans