(a) Consider the information only on extract 1 and only on extract 2 , use 1 to 2 sentence(s) to summarize the key information before introducing the factor affecting the automated cooking restaurant market in Hong Kong. Use a demand-and-supply analysis to explain the effect on the equilibrium price and equilibrium quantity of the automated cooking restaurant market in Hong Kong. No demand-and-supply diagram is needed but you need to describe how the curve(s) shift(s) in your written explanation. (20marks)

(b)Considering all effects identified in your answer of part (a) of both extract 1 and 2, what are the combined effect on the equilibrium price and equilibrium quantity of the automated cooking restaurant market in Hong Kong? Your analysis shows there is no change in the market price of automated cooking restaurant in Hong Kong under the market change of information extract 1 and 2. How could this observation be possible? Explain with a demand-and-supply diagram.

Automated cooking refers to the process of using robots designed for preparing food with precision, maintaining the utmost level of quality and ensuring safer and hygienic food at a quicker pace with no manual effort. As a student intern of a consultancy firm, you were assigned to assist an analyst to prepare a demand- and-supply analysis for the automated cooking restaurant market in Hong Kong. After your investigation, the following TWO pieces of information extract were collected for the analysis. in rmotion extract 1 How Automation Can Change the Game By On The Line Some restaurant people see robots as the end of the industry as we know it, stealing jobs and eliminating the human touch of hospitality. Others see it as a cost-saving revolution that could alleviate the staffing crisis. However, you feel about the emergence and existence of robots in restaurants, It's already happening, Rising labor costs coupled with an industry-wide labor shortage, skyrocketing rents and huge Issues with employee turnover have led some restaurateurs to try and automate the more tedious, repetitive restaurant tasks and systems to reduce how much they spend on labor. (Source: https:/fpos.toasttab.com}'blog}on-the-linefrobots-in-restaurantsl in rmotion extractz How to spend Hong Kong's HIi$5,Duu coronavirus voucher... By South China Morning Post, 2 July 2021 Luckily for the city's permanent residents, that's resulted in a government-run HK$5,UDD voucher scheme to spend on anything from sneakers and smartphones to bus fares, coffee and cosmetics. This free money, which will come in lnstalments, can only be spent, not saved, and you cannot collect it all in one go... The vouchers can be used for public transport, at restaurants and service outlets, in local retail stores or their online shops, and for interest classes. {source: https:{fwww.scmp.comflifestyleiarticle/3139634ihow-spend-your-hk5DOD-voucher-and-where-youll-find- special-offers]