Describe the process through which equilibrium is reached in the market for a particular commodity. (S Marksy b) Analyze the effects on the market equilibrium price and quantity traded on a product of: (i) Improvements in production methods adopted by all suppliers in the market. (5 Marks) (ii) A decrease in the price of a close substitute product. (5 Marks) (iii) What would happen if the events outlined in parts (i) and (i) were to occur simultaneously