5:51 AMM . e 59%- Microeconomics Week #2 Assignment Changes to Supply, Quantity Supplied, Demand, and Quantity Demanded Using the table, for each line item and its associated column, describe how the market for each specific product will be affected by the associated event indicating whether it will rise, fall, or no change. For example, in the rst line item for the market of corn, based upon the event of a severe drought, the price will either rise or fall or no change, demand curve will shift left (fall) or right (rise) or no change, supply curve will shift left (fall) or shift right (rise) or no change, quantity demanded will rise, fall, or no change, and quantity supplied will either rise, fall, or no change. Demand Supply Quantity Quantity Curve Curve Demanded Supplied A severe drought hits he Midwest corn Corn growers The US. government reduces taxes on NSWIZIPme imported lumber L" Ing Event Market for: Price The federal government raises the minimum Minimum wage wage from $7.25 per jobs nourto $11.00 per hour Technology improves for automobile assembly View your assignment rubric. GlQ'NTH AM Ill 0 <