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consider this market for general health cheekups before and after the outbreak of covid-19 Question 3. (19 pts) Consider this market for general health checkups

consider this market for general health cheekups before and after the outbreak of covid-19

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Question 3. (19 pts) Consider this market for general health checkups before and after the outbreak of Covid-19 pandemic. S1 Price P2 SO P PO D1 DO Q2 A QO B Q1 Quantity a. Holding all else equal (ceteris paribus), show on the diagram above and briefly explain what happens in this market when the price increases. (5 pts) b. Ceteris paribus, show on the diagram above and briefly explain what happens in this market when income increases. Show the old and new equilibrium prices and quantities as PO, Q0 and P1, Q1, respectively. (5 pts) c. Ceteris paribus, show on the diagram above and briefly explain what happens in this market when energy prices increase. Show the new equilibrium price and quantity as P2, Q2, respectively. (5 pts) d. List down four factors causing demand to increase. (4 pts)

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