Changes in Market Equilibrium For the questions that follow complete the steps below in order: Read the scenario Determine if the scenario represents a change in supply (TIGERS) or demand (TIRES) Draw a supply and demand graph labeling all axis and curves Draw the correct curve shifting and label that you determined in #2 above Draw an arrow showing price increasing or decreasing in the space provided You can complete this on a separate sheet of paper or directly on the assignment and then upload to the review market equilibrium dropbox. An example has been provided for you. Example: New technology is found that increases productivity in all pizzerias across the country. How will this affect the market for pizza? This will affect the supply curve because it is technology. Technology is a determinant of supply. It will increase the supply of pizza and so the supply curve will shift to the right. In this case from the first equilibrium point to the second price decreases and quantity increases. I can see this because of the movement from P1 to P2 and Q1 to Q2 that I have drawn. The price of steel used to make Stanley tumblers rises sharply