14 An improvement in equipment and technology for cereal rms. The supply of eggs, a close substitute of cereal, increases. (Analyze cereal) An increase in population leading to an increase in cereal customers In order to promote American production, the government subsidizes cereal producers. (Analyze only American rms) New rms begin to start making cereal (Analyze the entire industry). The government establishes a binding price ceiling for cereal. The popularity of the cereal increases at the same time new technology lowers nrnrlnntinn costs. . Draw and Label Equilibrium: . The Change: Supply or Demand Increase or Decrease Shifter . After: Price Quantity . Draw and Label Equilibrium: . The Change: Supply or Demand Increase or Decrease Shifter . After: Price Quantity . Draw and Label Equilibrimn: . The Change: Supply or Demand Increase or Decrease Shifter . After: Price Quantity . Draw and Label Equilibrium: . The Change: Supply or Demand Increase or Decrease Shiiter . After: Price Quantity . Draw and Label Equilibrium: . The Change: Supply or Demand Increase or Decrease Shiiter . After: Price Quantity . Draw and Label Equilibrium: . The Change: Supply or Demand Increase or Decrease Shifter . After: Price Quantity . Draw and Label Equilibrium: . The Change: Demand- Up or Down Shifter- Supply- Up or Down Shifter