Attachment below:

2) For each of the following changes, draw a diagram that illustrates the likely effect on the market for eggs. In each case, state the overall impact on equilibrium price and quantity. (State whether you would expect an increase, decrease or whether the change is indeterminate.) a. The price of bacon decreases. (Assume bacon and eggs are complements in consumption.) b. The price of chicken feed increases. 0. The price of bacon decreases and the price of chicken feed increases. (1. Deviled eggs become popular at dinner parties. e. A technological innovation reduces egg breakage during packing. f. Deviled eggs become popular and egg breakage is reduced during packing. 3) What is meant by the term excess supply? What would cause excess supply in a competitive market? Use a competitive market diagram to depict this scenario. Explain why we would not expect this situation to persist in a competitive market when the market is allowed to adjust and operate freely