Consider the market for electric vehicles (EVs). Suppose OPEC (Organization of the Petroleum Exporting Countries) publishes in their annual market report that they are expecting a permanent and substantial reduction in the world oil supply in the next 2 years. Assuming the market for electric vehicles (EVs) is perfectly competitive, do the following: a) Perform a comparative statics of the short run impact of this report on the EV market using a 'typical firm' and 'market' diagram. b) Now extend the comparative statics to the long run and show and discuss the final impact on the EV market using a 'typical firm' and 'market' diagram

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