9. Using the following economic curve as your baseline, identify what will happen with each of the following scenarios for the candy economy in the US. Only an explanation is necessary, no need to draw anything for this question. a. A 'new' competitor enters the US market from another country. b. New technology is introduced to the industry that speeds up production. c. A tropical storm overseas destroys half of the cocoa crop this year. d. The FDA finally convinces Americans to consume less candy. e. Candy is a substitute for smoking. More Americans decide to quit smoking this year than in years past. f. Consumer incomes go down. g. To counter higher input prices, manufacturers increase the price of candy. h. Heavy competition prompts one major candy manufacturer to compete engage in the cost leadership marketing strategy. Supply Price 10 15 20 25 30 35 40 45 50 55 60 T Demand 10 20 30 40 50 60 70 80 90 100 Quantity This is editable text. Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting