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4. Draw a market for New Cars in 2019 (basic S&D graph, no numbers needed). (a) How has the market changed since the chip shortage?

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4. Draw a market for New Cars in 2019 (basic S&D graph, no numbers needed). (a) How has the market changed since the chip shortage? Is this a change in demand, supply, quantity demanded, and/or quantity supplied? Draw, label, and briefly explain the change. (b) How has the chip shortage affected the market for Used Cars? Is this a change in demand, supply, quantity demanded, and/or quantity supplied? Draw, label, and briefly explain the before and after chip shortage market for Used Cars

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