a. After a severe bout of toreclosures and detaults on home loans, banks made it harder for people to borrow. In your model, draw and label a new curve to show the effect in the market for homes when home loans became harder to get. Identify and label the new market equilibrium price and guantity. 3. Draw a supply and demand model that shows the market for automobiles. Identify and label the market equilibrium price and quantity. a. Draw and label a new curve that shows the effect in the market for automobiles when the price of auto insurance falls. Then add a new curve to show what happens in the automobile market if a technological advance lowers the cost of producing automobiles. Identify and label the new market equilibrium price and quantity. Two changes in this market