b. What will happen to the total revenue of car makers? What happened to revenue of companies in the food service sector, hotels and motels industry in the first quarter? How do supply elasticities and demand elasticities influence your answer? Explain. (You may assume that supply and demand are linear)

c. Based on your analysis, compare the impacts of this supply-chain issue and demand waning on the following: consumers, firms, and workers in the appliances market. Who is impacted the most? (Think analytically about prices, quantities, and take into account any mitigating responses by the affected groups.)