5. [4 points] The following graphs come from a recent research paper by a PhD student here at Ross. The paper studies the market for a specic type of textile, which is produced and sold in a competitive market. Part of the paper analyzes a certain shock that occurred in this market in the year 2004. In PM. my Dummy The panel on the left tells us that after the shock the price fell. The right panel shows that alter the shock the quantity sold in the market increased. Given these results, which one of the following could feasibly be the shock that occurred in 2004? i. The market demand for this textile shifted inward (people wanted less of it), with no change to supply. ii. The market demand for this textile shifted outward (people wanted more of it), with no change to supply. iii. The number of suppliers of this market dramatically increased, with no change to demand. iv. The marginal cost of producing this textile increased for all producers, with no change to demand. Pick the single most feasible option and explain