3. Describe how each of the following will affect the supply of personal computers: (a) A rise in wage rates (b) An increase in the number of sellers of computers (c)A tax placed on the production of computers (d)A subsidy placed on the production of computers 5.Explain how the market moves to equilibrium in terms of shortages and surpluses and in terms of maximum buying prices and minimum selling prices. 7. Identify what happens to equilibrium price and quantity in each of the following cases: a. Demand rises by the same amount that supply falls: b. Demand falls by the same amount that supply rises: c. Demand falls less than supply rises:_ d. Demand rises more than supply rises: 9. When speeding tickets were $100, usually 500 speeders were on the roads each month in a given city; when ticket prices were raised to $250, usually 215 speeders were on the roads in the city each month. Can you find any economics in this observation